Algert Global LLC Trims Position in Premier Financial Corp. (NASDAQ:PFC)

Algert Global LLC lowered its position in Premier Financial Corp. (NASDAQ:PFC) by 69.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,206 shares of the company’s stock after selling 62,679 shares during the quarter. Algert Global LLC’s holdings in Premier Financial were worth $662,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Citigroup Inc. grew its stake in shares of Premier Financial by 2,017.1% in the 3rd quarter. Citigroup Inc. now owns 751,923 shares of the company’s stock valued at $17,655,000 after buying an additional 716,406 shares during the period. AQR Capital Management LLC grew its position in Premier Financial by 66.0% in the second quarter. AQR Capital Management LLC now owns 326,667 shares of the company’s stock worth $6,684,000 after acquiring an additional 129,913 shares during the period. American Century Companies Inc. increased its stake in Premier Financial by 18.0% during the second quarter. American Century Companies Inc. now owns 656,177 shares of the company’s stock worth $13,425,000 after acquiring an additional 100,198 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Premier Financial by 61.1% in the second quarter. Assenagon Asset Management S.A. now owns 211,456 shares of the company’s stock valued at $4,326,000 after purchasing an additional 80,217 shares during the period. Finally, Versor Investments LP lifted its stake in shares of Premier Financial by 538.1% in the 3rd quarter. Versor Investments LP now owns 68,431 shares of the company’s stock valued at $1,607,000 after purchasing an additional 57,707 shares during the last quarter. 66.14% of the stock is currently owned by institutional investors and hedge funds.

Premier Financial Stock Down 0.6 %

Shares of NASDAQ:PFC opened at $27.71 on Friday. The company has a market capitalization of $993.13 million, a price-to-earnings ratio of 14.07 and a beta of 1.25. Premier Financial Corp. has a 12-month low of $18.63 and a 12-month high of $29.63. The business has a 50-day moving average price of $25.37 and a 200 day moving average price of $23.35. The company has a current ratio of 0.95, a quick ratio of 0.93 and a debt-to-equity ratio of 0.42.

Premier Financial (NASDAQ:PFC) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). The company had revenue of $112.74 million during the quarter, compared to analysts’ expectations of $64.55 million. Premier Financial had a net margin of 16.06% and a return on equity of 7.43%. During the same period last year, the firm posted $0.69 earnings per share. Sell-side analysts expect that Premier Financial Corp. will post 2 EPS for the current year.

Premier Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were given a dividend of $0.31 per share. The ex-dividend date was Friday, November 8th. This represents a $1.24 annualized dividend and a dividend yield of 4.47%. Premier Financial’s dividend payout ratio is currently 62.94%.

Insider Activity

In other news, EVP Dennis E. Rose, Jr. sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $27.98, for a total value of $55,960.00. Following the completion of the transaction, the executive vice president now owns 36,144 shares of the company’s stock, valued at approximately $1,011,309.12. This trade represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.22% of the company’s stock.

About Premier Financial

Premier Financial Corp., through its subsidiaries, provides various banking services. It offers demand, checking, money market, and savings accounts, as well as certificates of deposits and certificates of deposit account registry service; and investment products. The company also provides residential and commercial real estate, commercial, construction, home improvement and home equity, installment, and consumer loans.