Principal Financial Group Inc. Purchases 7,510 Shares of Korn Ferry (NYSE:KFY)

Principal Financial Group Inc. raised its holdings in shares of Korn Ferry (NYSE:KFY) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 279,479 shares of the business services provider’s stock after acquiring an additional 7,510 shares during the quarter. Principal Financial Group Inc.’s holdings in Korn Ferry were worth $18,851,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in KFY. State Street Corp raised its stake in Korn Ferry by 2.0% during the 3rd quarter. State Street Corp now owns 2,069,906 shares of the business services provider’s stock valued at $156,503,000 after purchasing an additional 40,240 shares during the period. Pacer Advisors Inc. bought a new position in Korn Ferry in the 3rd quarter worth approximately $103,546,000. Geode Capital Management LLC grew its holdings in Korn Ferry by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,217,031 shares of the business services provider’s stock valued at $91,587,000 after buying an additional 28,014 shares in the last quarter. Jennison Associates LLC raised its position in shares of Korn Ferry by 8.1% during the fourth quarter. Jennison Associates LLC now owns 1,067,813 shares of the business services provider’s stock valued at $72,024,000 after buying an additional 79,808 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Korn Ferry by 7.0% in the third quarter. Thrivent Financial for Lutherans now owns 949,378 shares of the business services provider’s stock worth $71,431,000 after buying an additional 62,385 shares in the last quarter. 98.82% of the stock is currently owned by hedge funds and other institutional investors.

Korn Ferry Trading Up 1.1 %

KFY stock opened at $65.10 on Tuesday. The firm has a fifty day moving average price of $68.11 and a 200 day moving average price of $71.12. Korn Ferry has a fifty-two week low of $59.12 and a fifty-two week high of $80.64. The firm has a market cap of $3.36 billion, a PE ratio of 13.91 and a beta of 1.57. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.07 and a current ratio of 2.07.

Korn Ferry (NYSE:KFY) last issued its quarterly earnings data on Thursday, December 5th. The business services provider reported $1.21 EPS for the quarter, hitting analysts’ consensus estimates of $1.21. Korn Ferry had a net margin of 9.03% and a return on equity of 14.27%. The business had revenue of $682.00 million during the quarter, compared to analysts’ expectations of $675.35 million. During the same period last year, the company posted $0.97 EPS. The business’s revenue was down 4.3% on a year-over-year basis. Sell-side analysts anticipate that Korn Ferry will post 4.75 earnings per share for the current fiscal year.

Korn Ferry Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were given a dividend of $0.37 per share. The ex-dividend date was Friday, December 20th. This represents a $1.48 dividend on an annualized basis and a yield of 2.27%. Korn Ferry’s dividend payout ratio (DPR) is presently 31.62%.

Insider Activity

In other news, CEO Mark Arian sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $72.24, for a total transaction of $1,444,800.00. Following the transaction, the chief executive officer now owns 68,869 shares of the company’s stock, valued at approximately $4,975,096.56. The trade was a 22.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on KFY shares. StockNews.com raised shares of Korn Ferry from a “hold” rating to a “buy” rating in a research note on Tuesday, December 17th. Truist Financial raised their price objective on Korn Ferry from $78.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, December 6th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Korn Ferry has an average rating of “Moderate Buy” and an average price target of $77.00.

Korn Ferry Profile

Korn Ferry, together with its subsidiaries, provides organizational consulting services worldwide. It operates through four segments: Consulting, Digital, Executive Search, and Recruitment Process Outsourcing (RPO) & Professional Search. The company provides executive search services to recruit board level, chief executive, other senior executive, and general management talent of organizations.