The Manufacturers Life Insurance Company Has $1.96 Million Stake in Korn Ferry (NYSE:KFY)

The Manufacturers Life Insurance Company trimmed its holdings in Korn Ferry (NYSE:KFY) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,114 shares of the business services provider’s stock after selling 789 shares during the period. The Manufacturers Life Insurance Company’s holdings in Korn Ferry were worth $1,964,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KFY. Barclays PLC raised its position in shares of Korn Ferry by 129.0% in the third quarter. Barclays PLC now owns 239,937 shares of the business services provider’s stock valued at $18,053,000 after buying an additional 135,148 shares in the last quarter. Franklin Resources Inc. increased its stake in Korn Ferry by 7.1% in the third quarter. Franklin Resources Inc. now owns 25,133 shares of the business services provider’s stock valued at $1,824,000 after acquiring an additional 1,663 shares during the last quarter. Principal Financial Group Inc. increased its stake in Korn Ferry by 5.7% in the third quarter. Principal Financial Group Inc. now owns 271,969 shares of the business services provider’s stock valued at $20,463,000 after acquiring an additional 14,601 shares during the last quarter. Heritage Family Offices LLP increased its stake in Korn Ferry by 7.2% in the fourth quarter. Heritage Family Offices LLP now owns 3,860 shares of the business services provider’s stock valued at $260,000 after acquiring an additional 259 shares during the last quarter. Finally, Ritholtz Wealth Management bought a new position in Korn Ferry in the fourth quarter valued at approximately $222,000. 98.82% of the stock is currently owned by institutional investors and hedge funds.

Korn Ferry Stock Performance

NYSE KFY opened at $66.07 on Monday. The firm’s fifty day moving average price is $64.49 and its two-hundred day moving average price is $68.45. The stock has a market cap of $3.41 billion, a PE ratio of 14.12 and a beta of 1.41. Korn Ferry has a fifty-two week low of $59.23 and a fifty-two week high of $80.64. 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 posted its earnings results on Tuesday, March 11th. The business services provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.06. The firm had revenue of $676.50 million for the quarter, compared to analysts’ expectations of $650.45 million. Korn Ferry had a net margin of 9.03% and a return on equity of 14.27%. The company’s revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.07 earnings per share. On average, equities analysts expect that Korn Ferry will post 4.75 EPS for the current fiscal year.

Korn Ferry Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Thursday, March 27th were paid a $0.48 dividend. This is a boost from Korn Ferry’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Thursday, March 27th. This represents a $1.92 annualized dividend and a dividend yield of 2.91%. Korn Ferry’s payout ratio is currently 41.29%.

Wall Street Analyst Weigh In

Separately, Truist Financial decreased their price objective on shares of Korn Ferry from $84.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th.

Korn Ferry Company 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.