Principal Financial Group Inc. Sells 35,141 Shares of FTI Consulting, Inc. (NYSE:FCN)

Principal Financial Group Inc. lessened its holdings in FTI Consulting, Inc. (NYSE:FCN) by 30.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,679 shares of the business services provider’s stock after selling 35,141 shares during the quarter. Principal Financial Group Inc. owned 0.23% of FTI Consulting worth $18,587,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in FCN. Synovus Financial Corp grew its position in FTI Consulting by 5.5% during the third quarter. Synovus Financial Corp now owns 4,710 shares of the business services provider’s stock valued at $1,072,000 after buying an additional 246 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of FTI Consulting during the 3rd quarter valued at approximately $35,000. Sanctuary Advisors LLC increased its stake in shares of FTI Consulting by 6.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 5,891 shares of the business services provider’s stock worth $1,341,000 after purchasing an additional 333 shares during the last quarter. SkyView Investment Advisors LLC raised its holdings in shares of FTI Consulting by 2.7% in the 3rd quarter. SkyView Investment Advisors LLC now owns 8,407 shares of the business services provider’s stock worth $1,913,000 after purchasing an additional 223 shares during the period. Finally, Toronto Dominion Bank lifted its stake in FTI Consulting by 34.3% in the third quarter. Toronto Dominion Bank now owns 4,045 shares of the business services provider’s stock valued at $920,000 after purchasing an additional 1,033 shares during the last quarter. 99.36% of the stock is owned by hedge funds and other institutional investors.

FTI Consulting Price Performance

NYSE:FCN opened at $193.45 on Friday. FTI Consulting, Inc. has a 1 year low of $185.93 and a 1 year high of $243.60. The stock’s fifty day moving average price is $202.44 and its two-hundred day moving average price is $214.39. The company has a market cap of $6.95 billion, a P/E ratio of 22.24 and a beta of 0.12.

FTI Consulting (NYSE:FCN) last issued its earnings results on Thursday, October 24th. The business services provider reported $1.85 EPS for the quarter, missing the consensus estimate of $2.06 by ($0.21). FTI Consulting had a return on equity of 14.79% and a net margin of 8.37%. The company had revenue of $926.00 million during the quarter, compared to the consensus estimate of $946.16 million. During the same quarter in the prior year, the business earned $2.34 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, analysts expect that FTI Consulting, Inc. will post 8.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on FCN. StockNews.com raised FTI Consulting from a “hold” rating to a “buy” rating in a research report on Saturday, November 2nd. Truist Financial boosted their price objective on FTI Consulting from $255.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th.

FTI Consulting Profile

FTI Consulting, Inc provides business advisory services to manage change, mitigate risk, and resolve disputes worldwide. The company operates through Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology, and Strategic Communications segments. The Corporate Finance & Restructuring segment provides business transformation and strategy, transactions, and turnaround and restructuring services.