Allianz Asset Management GmbH Purchases 93,591 Shares of Korn Ferry (NYSE:KFY)

Allianz Asset Management GmbH increased its position in Korn Ferry (NYSE:KFY) by 14.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 753,414 shares of the business services provider’s stock after acquiring an additional 93,591 shares during the quarter. Allianz Asset Management GmbH’s holdings in Korn Ferry were worth $50,818,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Venturi Wealth Management LLC bought a new position in shares of Korn Ferry in the fourth quarter valued at approximately $122,000. Blue Trust Inc. boosted its position in shares of Korn Ferry by 1,083.4% in the third quarter. Blue Trust Inc. now owns 2,213 shares of the business services provider’s stock valued at $167,000 after acquiring an additional 2,026 shares during the period. KBC Group NV boosted its position in shares of Korn Ferry by 68.5% in the fourth quarter. KBC Group NV now owns 2,542 shares of the business services provider’s stock valued at $171,000 after acquiring an additional 1,033 shares during the period. Highland Capital Management LLC bought a new position in shares of Korn Ferry in the fourth quarter valued at approximately $201,000. Finally, Glenmede Trust Co. NA bought a new stake in Korn Ferry during the third quarter valued at approximately $203,000. 98.82% of the stock is currently owned by institutional investors.

Korn Ferry Trading Down 2.3 %

Shares of Korn Ferry stock opened at $64.33 on Friday. The firm has a market cap of $3.32 billion, a PE ratio of 13.74 and a beta of 1.57. Korn Ferry has a 1 year low of $58.67 and a 1 year high of $80.64. The company has a 50 day simple moving average of $68.21 and a two-hundred day simple moving average of $71.10. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.07 and a quick ratio of 2.07.

Korn Ferry (NYSE:KFY) last posted its quarterly earnings results on Thursday, December 5th. The business services provider reported $1.21 EPS for the quarter, hitting the consensus estimate of $1.21. The firm had revenue of $682.00 million for the quarter, compared to the consensus estimate of $675.35 million. Korn Ferry had a net margin of 9.03% and a return on equity of 14.27%. The business’s revenue was down 4.3% compared to the same quarter last year. During the same period last year, the firm posted $0.97 earnings per share. Analysts expect that Korn Ferry will post 4.75 earnings per share for the current fiscal year.

Korn Ferry Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.30%. The ex-dividend date was Friday, December 20th. Korn Ferry’s dividend payout ratio (DPR) is presently 31.62%.

Insiders Place Their Bets

In other Korn Ferry news, CEO Mark Arian sold 20,000 shares of Korn Ferry stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $72.24, for a total transaction of $1,444,800.00. Following the transaction, the chief executive officer now directly owns 68,869 shares of the company’s stock, valued at approximately $4,975,096.56. This trade represents a 22.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

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