Principal Financial Group Inc. Has $18.59 Million Holdings in FTI Consulting, Inc. (NYSE:FCN)

Principal Financial Group Inc. cut its stake in FTI Consulting, Inc. (NYSE:FCN - Free Report) by 30.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,679 shares of the business services provider's stock after selling 35,141 shares during the period. Principal Financial Group Inc. owned approximately 0.23% of FTI Consulting worth $18,587,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. UMB Bank n.a. lifted its stake in FTI Consulting by 76.6% during the third quarter. UMB Bank n.a. now owns 166 shares of the business services provider's stock valued at $38,000 after purchasing an additional 72 shares during the last quarter. Signaturefd LLC grew its holdings in shares of FTI Consulting by 65.9% in the 2nd quarter. Signaturefd LLC now owns 204 shares of the business services provider's stock worth $44,000 after acquiring an additional 81 shares during the last quarter. Covestor Ltd raised its position in shares of FTI Consulting by 76.4% during the first quarter. Covestor Ltd now owns 217 shares of the business services provider's stock worth $46,000 after purchasing an additional 94 shares during the period. Versant Capital Management Inc lifted its holdings in shares of FTI Consulting by 593.8% during the second quarter. Versant Capital Management Inc now owns 222 shares of the business services provider's stock valued at $48,000 after purchasing an additional 190 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its position in shares of FTI Consulting by 284.1% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 242 shares of the business services provider's stock valued at $52,000 after purchasing an additional 179 shares during the period. Institutional investors and hedge funds own 99.36% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FCN shares. StockNews.com upgraded shares of FTI Consulting from a "hold" rating to a "buy" rating in a research report on Saturday, November 2nd. Truist Financial increased their target price on FTI Consulting from $255.00 to $275.00 and gave the company a "buy" rating in a report on Wednesday, September 25th.

FTI Consulting Stock Performance

Shares of FCN stock traded down $1.00 during trading on Friday, hitting $194.80. 341,366 shares of the company were exchanged, compared to its average volume of 178,137. The business's 50-day simple moving average is $216.57 and its 200 day simple moving average is $218.25. FTI Consulting, Inc. has a twelve month low of $185.93 and a twelve month high of $243.60. The firm has a market capitalization of $7.00 billion, a price-to-earnings ratio of 22.39 and a beta of 0.12.

FTI Consulting (NYSE:FCN - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The business services provider reported $1.85 earnings per share for the quarter, missing analysts' consensus estimates of $2.06 by ($0.21). The company had revenue of $926.00 million during the quarter, compared to analyst estimates of $946.16 million. FTI Consulting had a return on equity of 14.79% and a net margin of 8.37%. The company's revenue was up 3.7% compared to the same quarter last year. During the same period last year, the company posted $2.34 earnings per share. On average, equities analysts forecast that FTI Consulting, Inc. will post 8.1 earnings per share for the current fiscal year.

FTI Consulting Company Profile

FTI Consulting, Inc provides business advisory services to manage change, mitigate risk, and resolve disputes worldwide. The company operates through Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology, and Strategic Communications segments. The Corporate Finance & Restructuring segment provides business transformation and strategy, transactions, and turnaround and restructuring services.