The Manufacturers Life Insurance Company Raises Stake in EVERTEC, Inc. (NYSE:EVTC)

The Manufacturers Life Insurance Company boosted its holdings in shares of EVERTEC, Inc. (NYSE:EVTC) by 2.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 31,625 shares of the business services provider’s stock after purchasing an additional 882 shares during the period. The Manufacturers Life Insurance Company’s holdings in EVERTEC were worth $1,052,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in EVERTEC by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 7,453,242 shares of the business services provider’s stock worth $305,136,000 after purchasing an additional 68,871 shares during the last quarter. American Century Companies Inc. grew its position in EVERTEC by 5.0% during the 2nd quarter. American Century Companies Inc. now owns 4,370,476 shares of the business services provider’s stock worth $145,318,000 after purchasing an additional 208,183 shares during the last quarter. Capital International Investors grew its position in EVERTEC by 0.3% during the 1st quarter. Capital International Investors now owns 3,141,051 shares of the business services provider’s stock worth $125,328,000 after purchasing an additional 9,110 shares during the last quarter. Victory Capital Management Inc. grew its position in EVERTEC by 9.0% during the 2nd quarter. Victory Capital Management Inc. now owns 2,298,373 shares of the business services provider’s stock worth $76,421,000 after purchasing an additional 189,637 shares during the last quarter. Finally, North Star Asset Management Inc. grew its position in EVERTEC by 0.7% during the 2nd quarter. North Star Asset Management Inc. now owns 740,234 shares of the business services provider’s stock worth $24,613,000 after purchasing an additional 5,475 shares during the last quarter. 96.80% of the stock is owned by hedge funds and other institutional investors.

EVERTEC Stock Up 0.6 %

EVTC stock opened at $33.16 on Friday. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 1.92. The company’s 50-day moving average price is $33.24 and its 200 day moving average price is $34.73. EVERTEC, Inc. has a 52 week low of $28.76 and a 52 week high of $42.21. The company has a market cap of $2.14 billion, a P/E ratio of 33.49, a P/E/G ratio of 1.64 and a beta of 1.15.

EVERTEC (NYSE:EVTC) last announced its quarterly earnings results on Wednesday, July 31st. The business services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.54 by $0.19. The business had revenue of $211.98 million for the quarter, compared to analyst estimates of $209.40 million. EVERTEC had a return on equity of 32.08% and a net margin of 8.84%. On average, research analysts expect that EVERTEC, Inc. will post 2.53 earnings per share for the current fiscal year.

EVERTEC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Monday, July 29th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.60%. The ex-dividend date was Monday, July 29th. EVERTEC’s dividend payout ratio (DPR) is 20.20%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on EVTC shares. Susquehanna lowered shares of EVERTEC from a “neutral” rating to a “negative” rating and dropped their price target for the stock from $38.00 to $28.00 in a research note on Thursday, September 5th. Keefe, Bruyette & Woods dropped their target price on EVERTEC from $47.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, July 8th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $34.33.

Insider Activity

In related news, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $35.10, for a total value of $1,263,600.00. Following the sale, the executive vice president now directly owns 39,370 shares in the company, valued at $1,381,887. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other EVERTEC news, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $35.10, for a total value of $1,263,600.00. Following the sale, the executive vice president now owns 39,370 shares of the company’s stock, valued at $1,381,887. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Miguel Vizcarrondo sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $34.11, for a total transaction of $1,364,400.00. Following the transaction, the executive vice president now directly owns 129,928 shares of the company’s stock, valued at approximately $4,431,844.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.83% of the company’s stock.

About EVERTEC

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.