Russell Investments Group Ltd. Has $7.15 Million Stock Holdings in IDT Co. (NYSE:IDT)

Russell Investments Group Ltd. reduced its holdings in IDT Co. (NYSE:IDT - Free Report) by 3.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 150,539 shares of the utilities provider's stock after selling 5,895 shares during the period. Russell Investments Group Ltd. owned approximately 0.60% of IDT worth $7,154,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IDT. Proficio Capital Partners LLC acquired a new position in shares of IDT in the 4th quarter valued at $1,018,000. JPMorgan Chase & Co. lifted its stake in IDT by 10.7% in the third quarter. JPMorgan Chase & Co. now owns 55,876 shares of the utilities provider's stock valued at $2,133,000 after buying an additional 5,417 shares during the period. Barclays PLC grew its position in shares of IDT by 240.3% during the 3rd quarter. Barclays PLC now owns 27,066 shares of the utilities provider's stock worth $1,034,000 after buying an additional 19,112 shares during the period. FMR LLC increased its stake in shares of IDT by 26.8% in the 3rd quarter. FMR LLC now owns 83,868 shares of the utilities provider's stock valued at $3,201,000 after acquiring an additional 17,725 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of IDT by 6.5% in the 3rd quarter. Geode Capital Management LLC now owns 421,096 shares of the utilities provider's stock valued at $16,077,000 after acquiring an additional 25,541 shares during the period. 59.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of IDT from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, March 18th.

Insiders Place Their Bets

In related news, CTO David Wartell sold 10,735 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $48.99, for a total transaction of $525,907.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 25.32% of the company's stock.

IDT Stock Performance

NYSE:IDT traded up $0.30 on Friday, reaching $49.30. The company's stock had a trading volume of 99,056 shares, compared to its average volume of 93,304. IDT Co. has a 1-year low of $33.84 and a 1-year high of $58.77. The business's 50-day moving average price is $49.24 and its two-hundred day moving average price is $48.30. The firm has a market cap of $1.24 billion, a PE ratio of 16.88 and a beta of 0.58.

IDT (NYSE:IDT - Get Free Report) last posted its earnings results on Thursday, March 6th. The utilities provider reported $0.81 earnings per share (EPS) for the quarter. IDT had a return on equity of 22.18% and a net margin of 6.10%. The business had revenue of $303.35 million during the quarter.

IDT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 17th were given a $0.06 dividend. This is a boost from IDT's previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Monday, March 17th. IDT's payout ratio is currently 7.62%.

IDT Profile

IDT Corporation provides communications and payment services in the United States, the United Kingdom, and internationally. It operates through Fintech, National Retail Solutions, net2phone, and Traditional Communications segments. The company operates point of sale, a terminal-based platform which provides independent retailers store management software, electronic payment processing, and other ancillary merchant services; and provides marketers with digital out-of-home advertising and transaction data.