Trust Point Inc. Lowers Holdings in Korn Ferry (NYSE:KFY)

Trust Point Inc. lessened its stake in shares of Korn Ferry (NYSE:KFY - Free Report) by 41.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 9,742 shares of the business services provider's stock after selling 6,849 shares during the period. Trust Point Inc.'s holdings in Korn Ferry were worth $657,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. JPMorgan Chase & Co. grew its holdings in Korn Ferry by 193.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 425,968 shares of the business services provider's stock valued at $32,050,000 after buying an additional 281,024 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in Korn Ferry by 7.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 949,378 shares of the business services provider's stock valued at $71,431,000 after buying an additional 62,385 shares in the last quarter. Vestcor Inc grew its holdings in Korn Ferry by 323.7% during the 3rd quarter. Vestcor Inc now owns 18,487 shares of the business services provider's stock valued at $1,391,000 after buying an additional 14,124 shares in the last quarter. Seizert Capital Partners LLC grew its holdings in Korn Ferry by 21.9% during the 3rd quarter. Seizert Capital Partners LLC now owns 72,496 shares of the business services provider's stock valued at $5,455,000 after buying an additional 13,017 shares in the last quarter. Finally, Pacer Advisors Inc. bought a new stake in shares of Korn Ferry in the 3rd quarter valued at approximately $103,546,000. Hedge funds and other institutional investors own 98.82% of the company's stock.

Insiders Place Their Bets

In other Korn Ferry news, CEO Mark Arian sold 20,000 shares of the business's stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $72.24, for a total transaction of $1,444,800.00. Following the completion of the sale, the chief executive officer now directly owns 68,869 shares in the company, valued at approximately $4,975,096.56. The trade was a 22.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.40% of the stock is owned by company insiders.

Korn Ferry Stock Performance

KFY traded down $1.28 on Friday, reaching $66.94. 243,994 shares of the stock were exchanged, compared to its average volume of 273,930. The company's 50-day moving average price is $69.60 and its 200 day moving average price is $71.40. Korn Ferry has a fifty-two week low of $57.80 and a fifty-two week high of $80.64. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.07 and a quick ratio of 2.07. The firm has a market capitalization of $3.45 billion, a PE ratio of 14.30 and a beta of 1.57.

Korn Ferry (NYSE:KFY - Get Free Report) last issued its quarterly earnings data on Thursday, December 5th. The business services provider reported $1.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.21. The business had revenue of $682.00 million during the quarter, compared to analysts' expectations of $675.35 million. Korn Ferry had a return on equity of 14.27% and a net margin of 9.03%. The company's revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.97 EPS. As a group, sell-side analysts forecast that Korn Ferry will post 4.75 EPS for the current fiscal year.

Korn Ferry Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were issued a $0.37 dividend. The ex-dividend date was Friday, December 20th. This represents a $1.48 dividend on an annualized basis and a yield of 2.21%. Korn Ferry's payout ratio is 31.62%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on KFY. Truist Financial raised their price objective on Korn Ferry from $78.00 to $84.00 and gave the company a "buy" rating in a research note on Friday, December 6th. StockNews.com upgraded Korn Ferry from a "hold" rating to a "buy" rating in a report on Tuesday, December 17th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $77.00.

Korn Ferry 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.