Principal Financial Group Inc. Sells 47,667 Shares of EVERTEC, Inc. (NYSE:EVTC)

Principal Financial Group Inc. cut its stake in EVERTEC, Inc. (NYSE:EVTC) by 13.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 303,182 shares of the business services provider’s stock after selling 47,667 shares during the period. Principal Financial Group Inc.’s holdings in EVERTEC were worth $10,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Edgestream Partners L.P. acquired a new position in EVERTEC in the 2nd quarter valued at $8,143,000. Aptus Capital Advisors LLC increased its position in EVERTEC by 24.8% during the second quarter. Aptus Capital Advisors LLC now owns 88,055 shares of the business services provider’s stock worth $2,928,000 after acquiring an additional 17,475 shares during the period. Invenomic Capital Management LP bought a new position in EVERTEC during the first quarter worth about $2,407,000. ProShare Advisors LLC raised its stake in EVERTEC by 7.2% in the 1st quarter. ProShare Advisors LLC now owns 13,163 shares of the business services provider’s stock worth $525,000 after purchasing an additional 882 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in shares of EVERTEC by 7.9% in the second quarter. Sei Investments Co. now owns 480,616 shares of the business services provider’s stock valued at $15,981,000 after buying an additional 35,118 shares during the period. 96.80% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Miguel Vizcarrondo sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $34.11, for a total transaction of $1,364,400.00. Following the completion of the transaction, the executive vice president now directly owns 129,928 shares in the company, valued at $4,431,844.08. This represents a 23.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.83% of the stock is owned by corporate insiders.

EVERTEC Price Performance

EVTC stock opened at $34.86 on Tuesday. The company’s 50-day moving average price is $33.49 and its two-hundred day moving average price is $33.87. The firm has a market cap of $2.22 billion, a P/E ratio of 27.25, a P/E/G ratio of 1.58 and a beta of 1.15. The company has a quick ratio of 1.82, a current ratio of 1.97 and a debt-to-equity ratio of 1.84. EVERTEC, Inc. has a 12 month low of $28.76 and a 12 month high of $42.21.

EVERTEC (NYSE:EVTC) last announced its quarterly earnings data on Wednesday, November 6th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. The business had revenue of $211.80 million for the quarter, compared to analysts’ expectations of $211.51 million. During the same period last year, the firm posted $0.72 earnings per share. The firm’s quarterly revenue was up 22.3% compared to the same quarter last year. On average, analysts anticipate that EVERTEC, Inc. will post 2.55 earnings per share for the current fiscal year.

EVERTEC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, October 28th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, October 28th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.57%. EVERTEC’s dividend payout ratio (DPR) is currently 15.63%.

Wall Street Analyst Weigh In

Separately, Susquehanna lowered EVERTEC from a “neutral” rating to a “negative” rating and lowered their price objective for the stock from $38.00 to $28.00 in a research note on Thursday, September 5th.

EVERTEC Profile

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.