Principal Financial Group Inc. Lowers Stock Position in FTI Consulting, Inc. (NYSE:FCN)

Principal Financial Group Inc. lessened its stake in FTI Consulting, Inc. (NYSE:FCN) by 30.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,679 shares of the business services provider’s stock after selling 35,141 shares during the period. Principal Financial Group Inc.’s holdings in FTI Consulting were worth $18,587,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its stake in FTI Consulting by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 299,670 shares of the business services provider’s stock valued at $64,588,000 after acquiring an additional 2,094 shares during the last quarter. Whittier Trust Co. raised its holdings in shares of FTI Consulting by 12.0% during the 2nd quarter. Whittier Trust Co. now owns 1,280 shares of the business services provider’s stock valued at $276,000 after buying an additional 137 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of FTI Consulting by 7.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,634 shares of the business services provider’s stock valued at $1,645,000 after buying an additional 514 shares in the last quarter. Signaturefd LLC boosted its stake in FTI Consulting by 65.9% in the second quarter. Signaturefd LLC now owns 204 shares of the business services provider’s stock worth $44,000 after buying an additional 81 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in FTI Consulting by 31.3% during the second quarter. Van ECK Associates Corp now owns 15,892 shares of the business services provider’s stock valued at $3,425,000 after acquiring an additional 3,786 shares during the last quarter. Institutional investors own 99.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on FCN shares. StockNews.com upgraded shares of FTI Consulting from a “hold” rating to a “buy” rating in a report on Saturday, November 2nd. Truist Financial upped their price target on shares of FTI Consulting from $255.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th.

FTI Consulting Stock Performance

Shares of FCN stock opened at $193.45 on Friday. The company has a market capitalization of $6.95 billion, a P/E ratio of 22.24 and a beta of 0.12. FTI Consulting, Inc. has a fifty-two week low of $185.93 and a fifty-two week high of $243.60. The stock has a 50 day moving average price of $202.44 and a two-hundred day moving average price of $214.39.

FTI Consulting (NYSE:FCN) last announced its quarterly earnings results on Thursday, October 24th. The business services provider reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.06 by ($0.21). FTI Consulting had a net margin of 8.37% and a return on equity of 14.79%. The firm had revenue of $926.00 million for the quarter, compared to analysts’ expectations of $946.16 million. During the same period in the previous year, the company earned $2.34 EPS. The company’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, equities analysts predict that FTI Consulting, Inc. will post 8.1 earnings per share for the current year.

About FTI Consulting

FTI Consulting, Inc provides business advisory services to manage change, mitigate risk, and resolve disputes worldwide. The company operates through Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology, and Strategic Communications segments. The Corporate Finance & Restructuring segment provides business transformation and strategy, transactions, and turnaround and restructuring services.