Principal Financial Group Inc. Has $11.98 Million Position in OUTFRONT Media Inc. (NYSE:OUT)

Principal Financial Group Inc. reduced its stake in OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 9.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 651,513 shares of the financial services provider's stock after selling 70,922 shares during the period. Principal Financial Group Inc. owned approximately 0.39% of OUTFRONT Media worth $11,975,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Quarry LP lifted its position in shares of OUTFRONT Media by 258.8% during the 2nd quarter. Quarry LP now owns 1,837 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 1,325 shares during the period. National Bank of Canada FI bought a new stake in OUTFRONT Media during the second quarter worth about $28,000. Harbor Capital Advisors Inc. acquired a new stake in OUTFRONT Media during the third quarter worth about $32,000. Virtus Fund Advisers LLC bought a new position in OUTFRONT Media in the 3rd quarter valued at about $49,000. Finally, Quest Partners LLC increased its holdings in OUTFRONT Media by 30.0% in the 2nd quarter. Quest Partners LLC now owns 4,311 shares of the financial services provider's stock valued at $62,000 after buying an additional 994 shares during the period.

Wall Street Analyst Weigh In

OUT has been the topic of several analyst reports. Wells Fargo & Company assumed coverage on shares of OUTFRONT Media in a research report on Thursday, September 19th. They set an "overweight" rating and a $22.00 price target on the stock. Wolfe Research downgraded OUTFRONT Media from an "outperform" rating to a "peer perform" rating in a report on Thursday, October 24th. Morgan Stanley boosted their price target on OUTFRONT Media from $17.00 to $18.00 and gave the stock an "equal weight" rating in a report on Wednesday, December 18th. StockNews.com lowered OUTFRONT Media from a "buy" rating to a "hold" rating in a research note on Monday, October 28th. Finally, Barrington Research reiterated an "outperform" rating and issued a $21.00 target price on shares of OUTFRONT Media in a research report on Wednesday, November 13th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $19.00.

OUTFRONT Media Price Performance

Shares of NYSE OUT traded down $0.21 during mid-day trading on Monday, hitting $17.48. 932,314 shares of the stock traded hands, compared to its average volume of 1,785,906. OUTFRONT Media Inc. has a twelve month low of $12.27 and a twelve month high of $19.50. The firm has a 50 day simple moving average of $18.49 and a two-hundred day simple moving average of $17.02. The company has a debt-to-equity ratio of 4.00, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market cap of $2.90 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 1.20 and a beta of 1.96.

OUTFRONT Media (NYSE:OUT - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The financial services provider reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.20). OUTFRONT Media had a net margin of 13.30% and a return on equity of 40.33%. The firm had revenue of $451.90 million for the quarter, compared to analyst estimates of $456.38 million. During the same period in the previous year, the business posted $0.46 earnings per share. The business's revenue for the quarter was down .6% compared to the same quarter last year. As a group, equities research analysts forecast that OUTFRONT Media Inc. will post 1.56 EPS for the current fiscal year.

OUTFRONT Media Cuts Dividend

The firm also recently declared a special dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 15th will be given a $0.75 dividend. The ex-dividend date is Friday, November 15th. OUTFRONT Media's dividend payout ratio (DPR) is currently 87.59%.

About OUTFRONT Media

OUTFRONT leverages the power of technology, location, and creativity to connect brands with consumers outside of their homes through one of the largest and most diverse sets of billboard, transit, and mobile assets in North America. Through its technology platform, OUTFRONT will fundamentally change the ways advertisers engage audiences on-the-go.