Principal Financial Group Inc. Has $674,000 Stock Position in Kforce Inc. (NASDAQ:KFRC)

Principal Financial Group Inc. grew its position in Kforce Inc. (NASDAQ:KFRC) by 10.9% during the 2nd quarter, Holdings Channel reports. The firm owned 10,852 shares of the business services provider’s stock after purchasing an additional 1,068 shares during the quarter. Principal Financial Group Inc.’s holdings in Kforce were worth $674,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. raised its stake in shares of Kforce by 14.6% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 732,868 shares of the business services provider’s stock worth $51,682,000 after acquiring an additional 93,180 shares during the last quarter. Franklin Resources Inc. grew its stake in Kforce by 4.2% in the fourth quarter. Franklin Resources Inc. now owns 999,557 shares of the business services provider’s stock valued at $67,530,000 after acquiring an additional 40,527 shares during the period. Wellington Management Group LLP lifted its stake in Kforce by 151.5% in the fourth quarter. Wellington Management Group LLP now owns 62,280 shares of the business services provider’s stock valued at $4,208,000 after buying an additional 37,512 shares in the last quarter. Sei Investments Co. increased its holdings in Kforce by 36.1% during the 1st quarter. Sei Investments Co. now owns 45,459 shares of the business services provider’s stock worth $3,207,000 after purchasing an additional 12,050 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Kforce in the 2nd quarter valued at approximately $718,000. 92.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Kforce from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Kforce currently has an average rating of “Hold” and a consensus price target of $68.00.

Kforce Stock Up 1.4 %

Shares of NASDAQ KFRC opened at $62.40 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.33 and a current ratio of 2.33. The company’s 50 day moving average price is $64.70 and its 200-day moving average price is $65.00. Kforce Inc. has a 52-week low of $55.55 and a 52-week high of $74.79. The company has a market capitalization of $1.21 billion, a P/E ratio of 21.51 and a beta of 0.88.

Kforce (NASDAQ:KFRC) last released its quarterly earnings data on Monday, July 29th. The business services provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.73 by $0.02. Kforce had a return on equity of 34.89% and a net margin of 3.56%. The firm had revenue of $356.32 million during the quarter, compared to the consensus estimate of $356.20 million. During the same quarter in the previous year, the company posted $0.95 earnings per share. The company’s quarterly revenue was down 8.4% on a year-over-year basis. Equities analysts forecast that Kforce Inc. will post 2.7 earnings per share for the current year.

Kforce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Friday, September 13th. Kforce’s dividend payout ratio is presently 52.60%.

Kforce Company Profile

Kforce Inc provides professional staffing services and solutions in the United States. It operates through two segments, Technology, and Finance and Accounting (FA). The Technology segment provides talent solutions to its clients primarily in the areas of information technology, such as systems/applications architecture and development, data management and analytics, business and artificial intelligence, machine learning, project and program management, and network architecture and security.