Korn Ferry (NYSE:KFY) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in shares of Korn Ferry (NYSE:KFY) by 5.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 271,969 shares of the business services provider’s stock after buying an additional 14,601 shares during the quarter. Principal Financial Group Inc. owned about 0.53% of Korn Ferry worth $20,463,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Pacer Advisors Inc. acquired a new position in shares of Korn Ferry in the third quarter valued at approximately $103,546,000. Thrivent Financial for Lutherans grew its stake in Korn Ferry by 1,846.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 886,993 shares of the business services provider’s stock worth $59,553,000 after acquiring an additional 841,413 shares during the period. Blair William & Co. IL lifted its stake in shares of Korn Ferry by 377.6% during the 2nd quarter. Blair William & Co. IL now owns 239,823 shares of the business services provider’s stock worth $16,102,000 after purchasing an additional 189,607 shares during the period. Barclays PLC lifted its stake in shares of Korn Ferry by 129.0% during the 3rd quarter. Barclays PLC now owns 239,937 shares of the business services provider’s stock worth $18,053,000 after purchasing an additional 135,148 shares during the period. Finally, Jennison Associates LLC boosted its holdings in shares of Korn Ferry by 13.2% during the third quarter. Jennison Associates LLC now owns 988,005 shares of the business services provider’s stock worth $74,337,000 after purchasing an additional 115,523 shares during the last quarter. 98.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Korn Ferry

In other Korn Ferry news, CEO Gary D. Burnison sold 38,726 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $72.18, for a total value of $2,795,242.68. Following the completion of the sale, the chief executive officer now owns 273,118 shares of the company’s stock, valued at $19,713,657.24. This trade represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Debra J. Perry sold 5,280 shares of Korn Ferry stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $73.30, for a total transaction of $387,024.00. Following the sale, the director now owns 46,180 shares in the company, valued at $3,384,994. This represents a 10.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 80,280 shares of company stock valued at $5,832,156 over the last three months. 1.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on KFY. Truist Financial upped their target price on Korn Ferry from $78.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, December 6th. StockNews.com upgraded shares of Korn Ferry from a “hold” rating to a “buy” rating in a report on Tuesday, December 17th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $77.00.

Korn Ferry Stock Performance

Shares of NYSE:KFY opened at $68.26 on Friday. The firm has a market capitalization of $3.52 billion, a PE ratio of 14.59 and a beta of 1.56. Korn Ferry has a 12 month low of $54.77 and a 12 month high of $80.64. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.07 and a quick ratio of 2.15. The business has a 50-day moving average of $73.20 and a two-hundred day moving average of $71.04.

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, meeting the consensus estimate of $1.21. Korn Ferry had a net margin of 9.03% and a return on equity of 14.27%. The firm had revenue of $682.00 million for the quarter, compared to analyst estimates of $675.35 million. During the same quarter last year, the firm posted $0.97 earnings per share. Korn Ferry’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, research analysts forecast that Korn Ferry will post 4.75 earnings per share for the current year.

Korn Ferry Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 20th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.48 annualized dividend and a yield of 2.17%. Korn Ferry’s dividend payout ratio is currently 31.62%.

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.