Korn Ferry (NYSE:KFY) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in shares of Korn Ferry (NYSE:KFY) by 5.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 271,969 shares of the business services provider’s stock after acquiring an additional 14,601 shares during the quarter. Principal Financial Group Inc.’s holdings in Korn Ferry were worth $20,463,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. increased its holdings in shares of Korn Ferry by 7.1% in the 3rd quarter. Franklin Resources Inc. now owns 25,133 shares of the business services provider’s stock valued at $1,824,000 after acquiring an additional 1,663 shares during the last quarter. Cim Investment Management Inc. bought a new stake in Korn Ferry during the third quarter valued at $209,000. Hohimer Wealth Management LLC bought a new stake in Korn Ferry during the third quarter valued at $228,000. Geode Capital Management LLC raised its holdings in shares of Korn Ferry by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,217,031 shares of the business services provider’s stock worth $91,587,000 after purchasing an additional 28,014 shares during the period. Finally, Vestcor Inc lifted its position in shares of Korn Ferry by 323.7% in the 3rd quarter. Vestcor Inc now owns 18,487 shares of the business services provider’s stock worth $1,391,000 after buying an additional 14,124 shares during the last quarter. Institutional investors own 98.82% of the company’s stock.

Insider Buying and Selling at Korn Ferry

In related news, CEO Gary D. Burnison sold 16,274 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $74.05, for a total transaction of $1,205,089.70. Following the transaction, the chief executive officer now owns 356,844 shares in the company, valued at $26,424,298.20. This trade represents a 4.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Arian sold 20,000 shares of the company’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 value of $1,444,800.00. Following the completion of the sale, the chief executive officer now owns 68,869 shares of the company’s stock, valued at $4,975,096.56. This trade represents a 22.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 80,280 shares of company stock valued at $5,832,156. Company insiders own 1.40% of the company’s stock.

Korn Ferry Trading Up 1.0 %

Korn Ferry stock opened at $68.26 on Friday. The firm has a 50-day moving average price of $73.20 and a two-hundred day moving average price of $71.04. Korn Ferry has a 52-week low of $54.77 and a 52-week high of $80.64. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 14.59 and a beta of 1.56. The company has a quick ratio of 2.15, a current ratio of 2.07 and a debt-to-equity ratio of 0.22.

Korn Ferry (NYSE:KFY) last issued its quarterly earnings data on Thursday, December 5th. The business services provider reported $1.21 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.21. Korn Ferry had a return on equity of 14.27% and a net margin of 9.03%. The business had revenue of $682.00 million during the quarter, compared to analyst estimates of $675.35 million. During the same period in the prior year, the company posted $0.97 EPS. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. Sell-side analysts expect that Korn Ferry will post 4.75 earnings per share for the current year.

Korn Ferry Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 20th will be given a $0.37 dividend. The ex-dividend date is Friday, December 20th. This represents a $1.48 dividend on an annualized basis and a yield of 2.17%. Korn Ferry’s dividend payout ratio is presently 31.62%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on KFY shares. StockNews.com upgraded shares of Korn Ferry from a “hold” rating to a “buy” rating in a research note on Tuesday, December 17th. Truist Financial raised their price target on Korn Ferry from $78.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, December 6th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Korn Ferry has a consensus rating of “Moderate Buy” and a consensus price target of $77.00.

Korn Ferry Company 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.