Corebridge Financial Inc. Trims Stake in EVERTEC, Inc. (NYSE:EVTC)

Corebridge Financial Inc. decreased its holdings in shares of EVERTEC, Inc. (NYSE:EVTC) by 7.3% in the fourth quarter, HoldingsChannel reports. The fund owned 34,306 shares of the business services provider’s stock after selling 2,691 shares during the quarter. Corebridge Financial Inc.’s holdings in EVERTEC were worth $1,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of EVTC. Raymond James Financial Inc. bought a new stake in EVERTEC during the fourth quarter valued at about $5,356,000. Intech Investment Management LLC lifted its position in shares of EVERTEC by 589.5% during the 4th quarter. Intech Investment Management LLC now owns 125,559 shares of the business services provider’s stock valued at $4,336,000 after buying an additional 107,349 shares in the last quarter. DF Dent & Co. Inc. grew its stake in shares of EVERTEC by 27.5% during the 3rd quarter. DF Dent & Co. Inc. now owns 455,454 shares of the business services provider’s stock valued at $15,435,000 after acquiring an additional 98,341 shares during the period. Barclays PLC increased its holdings in EVERTEC by 385.6% in the 3rd quarter. Barclays PLC now owns 115,398 shares of the business services provider’s stock worth $3,910,000 after acquiring an additional 91,632 shares in the last quarter. Finally, Sei Investments Co. raised its stake in EVERTEC by 13.4% during the 4th quarter. Sei Investments Co. now owns 575,261 shares of the business services provider’s stock worth $19,864,000 after acquiring an additional 67,956 shares during the period. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

EVERTEC Trading Down 4.1 %

Shares of EVTC opened at $33.88 on Friday. The firm has a market cap of $2.15 billion, a P/E ratio of 26.47, a price-to-earnings-growth ratio of 1.43 and a beta of 1.11. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.97 and a quick ratio of 1.97. EVERTEC, Inc. has a 1 year low of $28.76 and a 1 year high of $39.50. The company has a 50 day simple moving average of $35.10 and a two-hundred day simple moving average of $34.39.

EVERTEC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 3rd were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Monday, March 3rd. EVERTEC’s dividend payout ratio (DPR) is presently 11.56%.

Insider Buying and Selling at EVERTEC

In other news, EVP Paola Perez-Surillo sold 14,585 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $37.15, for a total transaction of $541,832.75. Following the completion of the transaction, the executive vice president now directly owns 35,203 shares in the company, valued at approximately $1,307,791.45. This represents a 29.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Morgan M. Schuessler sold 80,000 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $37.45, for a total transaction of $2,996,000.00. Following the completion of the sale, the chief executive officer now owns 282,172 shares in the company, valued at $10,567,341.40. This represents a 22.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,170 shares of company stock valued at $7,149,206 in the last 90 days. Insiders own 0.83% of the company’s stock.

Wall Street Analysts Forecast Growth

EVTC has been the subject of a number of analyst reports. William Blair reissued an “outperform” rating on shares of EVERTEC in a research note on Thursday, February 27th. Susquehanna raised EVERTEC from a “negative” rating to a “neutral” rating and raised their price target for the company from $28.00 to $30.00 in a report on Thursday, February 27th.

EVERTEC Company Profile

EVERTEC, Inc engages in transaction processing business and financial technology in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean; Latin America Payments and Solutions; Merchant Acquiring; and Business Solutions. It provides merchant acquiring services, which enable point of sales and e-commerce merchants to accept and process electronic methods of payment, such as debit, credit, prepaid, and electronic benefit transfer (EBT) cards.