Principal Financial Group Inc. Trims Stock Position in IDT Co. (NYSE:IDT)

Principal Financial Group Inc. trimmed its holdings in IDT Co. (NYSE:IDT) by 23.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 5,620 shares of the utilities provider’s stock after selling 1,712 shares during the period. Principal Financial Group Inc.’s holdings in IDT were worth $215,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New York State Teachers Retirement System purchased a new stake in shares of IDT in the third quarter worth about $54,000. CWM LLC boosted its position in IDT by 53.2% in the 2nd quarter. CWM LLC now owns 1,797 shares of the utilities provider’s stock worth $65,000 after purchasing an additional 624 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of IDT by 176.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,600 shares of the utilities provider’s stock worth $129,000 after purchasing an additional 2,300 shares during the period. XTX Topco Ltd purchased a new position in shares of IDT during the 2nd quarter valued at approximately $203,000. Finally, SG Americas Securities LLC acquired a new position in shares of IDT in the 3rd quarter valued at $265,000. 59.34% of the stock is owned by institutional investors and hedge funds.

IDT Stock Performance

IDT stock opened at $51.17 on Tuesday. The firm’s fifty day moving average is $45.13 and its 200 day moving average is $40.12. The firm has a market cap of $1.29 billion, a PE ratio of 20.15 and a beta of 0.77. IDT Co. has a one year low of $27.09 and a one year high of $52.35.

IDT (NYSE:IDT) last posted its earnings results on Tuesday, October 8th. The utilities provider reported $0.51 EPS for the quarter. The firm had revenue of $308.83 million for the quarter. IDT had a return on equity of 19.44% and a net margin of 5.35%.

IDT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.39%. The ex-dividend date was Monday, September 30th. IDT’s payout ratio is 7.87%.

Insider Activity

In other IDT news, EVP Joyce J. Mason sold 2,094 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $46.18, for a total value of $96,700.92. Following the transaction, the executive vice president now owns 21,878 shares in the company, valued at approximately $1,010,326.04. This trade represents a 8.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Marcelo Fischer sold 600 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $48.57, for a total value of $29,142.00. Following the transaction, the chief financial officer now owns 37,573 shares in the company, valued at approximately $1,824,920.61. This represents a 1.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,582 shares of company stock worth $1,632,568 in the last quarter. Corporate insiders own 25.32% of the company’s stock.

About IDT

IDT Corporation provides communications and payment services in the United States, the United Kingdom, and internationally. It operates through Fintech, National Retail Solutions, net2phone, and Traditional Communications segments. The company operates point of sale, a terminal-based platform which provides independent retailers store management software, electronic payment processing, and other ancillary merchant services; and provides marketers with digital out-of-home advertising and transaction data.