Principal Financial Group Inc. Sells 15,360 Shares of Korn Ferry (NYSE:KFY)

Principal Financial Group Inc. reduced its position in Korn Ferry (NYSE:KFY - Free Report) by 5.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 257,368 shares of the business services provider's stock after selling 15,360 shares during the period. Principal Financial Group Inc. owned 0.50% of Korn Ferry worth $17,280,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. New York State Common Retirement Fund boosted its stake in Korn Ferry by 3.7% in the fourth quarter. New York State Common Retirement Fund now owns 22,416 shares of the business services provider's stock valued at $1,330,000 after acquiring an additional 810 shares during the last quarter. M&T Bank Corp bought a new stake in Korn Ferry in the fourth quarter valued at about $238,000. Charles Schwab Investment Management Inc. lifted its stake in Korn Ferry by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 719,462 shares of the business services provider's stock valued at $42,700,000 after buying an additional 35,985 shares during the period. Teacher Retirement System of Texas boosted its holdings in Korn Ferry by 107.1% during the fourth quarter. Teacher Retirement System of Texas now owns 14,263 shares of the business services provider's stock worth $847,000 after buying an additional 7,375 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in shares of Korn Ferry during the 4th quarter worth about $220,000. Institutional investors own 98.82% of the company's stock.

Korn Ferry Stock Performance

NYSE KFY traded down $3.31 on Thursday, hitting $67.98. 467,006 shares of the stock were exchanged, compared to its average volume of 348,005. The company has a market capitalization of $3.52 billion, a PE ratio of 21.11 and a beta of 1.54. The business's fifty day moving average is $69.46 and its 200 day moving average is $65.88. Korn Ferry has a 52 week low of $44.45 and a 52 week high of $75.30. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.79 and a quick ratio of 1.83.

Korn Ferry (NYSE:KFY - Get Free Report) last posted its quarterly earnings results on Thursday, June 13th. The business services provider reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $1.13 by $0.13. The business had revenue of $690.80 million during the quarter, compared to analysts' expectations of $687.36 million. Korn Ferry had a return on equity of 13.18% and a net margin of 6.05%. Korn Ferry's quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter last year, the company posted $1.01 earnings per share. Research analysts anticipate that Korn Ferry will post 4.81 EPS for the current fiscal year.

Korn Ferry Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Thursday, September 19th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.18%. The ex-dividend date is Thursday, September 19th. Korn Ferry's dividend payout ratio is 45.96%.

Insider Buying and Selling at Korn Ferry

In related news, CEO Mark Arian sold 5,000 shares of Korn Ferry stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $66.01, for a total transaction of $330,050.00. Following the completion of the sale, the chief executive officer now owns 91,484 shares of the company's stock, valued at approximately $6,038,858.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.50% of the company's stock.

Wall Street Analyst Weigh In

KFY has been the topic of several recent analyst reports. UBS Group lifted their price objective on shares of Korn Ferry from $66.00 to $68.00 and gave the stock a "neutral" rating in a research note on Friday, June 7th. Truist Financial reissued a "buy" rating and issued a $78.00 price target (up previously from $74.00) on shares of Korn Ferry in a report on Friday, June 14th. StockNews.com raised Korn Ferry from a "hold" rating to a "buy" rating in a research note on Thursday, June 20th. Finally, Robert W. Baird increased their price objective on shares of Korn Ferry from $72.00 to $79.00 and gave the stock an "outperform" rating in a research report on Friday, June 14th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Korn Ferry has an average rating of "Moderate Buy" and a consensus price target of $75.00.

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.