Principal Financial Group Inc. lifted its stake in EVERTEC, Inc. (NYSE:EVTC - Free Report) by 2.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 310,524 shares of the business services provider's stock after buying an additional 7,342 shares during the period. Principal Financial Group Inc. owned approximately 0.49% of EVERTEC worth $10,722,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fifth Third Bancorp increased its stake in EVERTEC by 52.1% in the fourth quarter. Fifth Third Bancorp now owns 1,174 shares of the business services provider's stock valued at $41,000 after purchasing an additional 402 shares during the last quarter. Blue Trust Inc. boosted its position in EVERTEC by 55.2% during the 4th quarter. Blue Trust Inc. now owns 2,148 shares of the business services provider's stock valued at $73,000 after purchasing an additional 764 shares during the period. KBC Group NV raised its holdings in shares of EVERTEC by 34.8% during the fourth quarter. KBC Group NV now owns 3,188 shares of the business services provider's stock valued at $110,000 after buying an additional 823 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of EVERTEC during the 3rd quarter worth about $28,000. Finally, XTX Topco Ltd raised its position in EVERTEC by 13.2% in the third quarter. XTX Topco Ltd now owns 11,515 shares of the business services provider's stock worth $390,000 after acquiring an additional 1,343 shares in the last quarter. Hedge funds and other institutional investors own 96.80% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on EVTC shares. Susquehanna upgraded shares of EVERTEC from a "negative" rating to a "neutral" rating and increased their target price for the stock from $28.00 to $30.00 in a research report on Thursday, February 27th. William Blair restated an "outperform" rating on shares of EVERTEC in a research note on Thursday, February 27th. Finally, Morgan Stanley raised shares of EVERTEC from an "underweight" rating to an "equal weight" rating and raised their price target for the company from $33.00 to $35.00 in a report on Thursday, November 21st.
View Our Latest Research Report on EVTC
EVERTEC Price Performance
Shares of EVTC traded down $0.60 during midday trading on Tuesday, hitting $37.32. 178,720 shares of the company traded hands, compared to its average volume of 322,177. EVERTEC, Inc. has a one year low of $28.76 and a one year high of $40.67. The stock has a 50-day moving average of $33.52 and a 200-day moving average of $33.81. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.97 and a quick ratio of 1.97. The firm has a market cap of $2.37 billion, a P/E ratio of 29.17, a PEG ratio of 1.43 and a beta of 1.15.
EVERTEC Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 3rd will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Monday, March 3rd. EVERTEC's dividend payout ratio is presently 11.56%.
Insider Activity at EVERTEC
In other news, EVP Miguel Vizcarrondo sold 8,123 shares of the company's stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $34.09, for a total transaction of $276,913.07. Following the transaction, the executive vice president now owns 113,915 shares of the company's stock, valued at approximately $3,883,362.35. This represents a 6.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.83% of the stock is currently owned by insiders.
About EVERTEC
(
Free Report)
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.
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