Principal Financial Group Inc. lowered its stake in shares of OUTFRONT Media Inc. (NYSE:OUT – Free Report) by 2.1% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 881,300 shares of the financial services provider’s stock after selling 18,630 shares during the period. Principal Financial Group Inc. owned about 0.53% of OUTFRONT Media worth $14,303,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of OUT. Versant Capital Management Inc raised its stake in shares of OUTFRONT Media by 223.9% during the 1st quarter. Versant Capital Management Inc now owns 1,629 shares of the financial services provider’s stock valued at $26,000 after buying an additional 1,126 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of OUTFRONT Media during the 1st quarter valued at about $28,000. CWM LLC raised its stake in shares of OUTFRONT Media by 86.6% during the 4th quarter. CWM LLC now owns 1,726 shares of the financial services provider’s stock valued at $29,000 after buying an additional 801 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in shares of OUTFRONT Media during the 4th quarter valued at about $33,000. Finally, Ellevest Inc. raised its stake in shares of OUTFRONT Media by 272.8% during the 1st quarter. Ellevest Inc. now owns 2,151 shares of the financial services provider’s stock valued at $35,000 after buying an additional 1,574 shares during the last quarter.
Wall Street Analyst Weigh In
A number of research firms have weighed in on OUT. StockNews.com began coverage on OUTFRONT Media in a research note on Thursday, August 17th. They set a “sell” rating for the company. Barrington Research cut their price target on OUTFRONT Media from $24.00 to $16.00 and set an “outperform” rating for the company in a research note on Friday, August 11th. Morgan Stanley cut their price target on OUTFRONT Media from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 2nd. Oppenheimer lowered OUTFRONT Media from an “outperform” rating to a “market perform” rating in a research note on Friday, August 4th. Finally, Citigroup cut their price target on OUTFRONT Media from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, August 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, OUTFRONT Media has an average rating of “Hold” and an average target price of $16.50.
Insider Buying and Selling
In related news, EVP Clive A. Punter bought 9,000 shares of the stock in a transaction dated Friday, August 18th. The shares were acquired at an average cost of $11.12 per share, for a total transaction of $100,080.00. Following the acquisition, the executive vice president now directly owns 174,647 shares in the company, valued at approximately $1,942,074.64. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.95% of the stock is currently owned by insiders.
OUTFRONT Media Trading Up 0.3 %
OUT stock opened at $11.62 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 4.21. OUTFRONT Media Inc. has a 12-month low of $10.86 and a 12-month high of $21.65. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of -4.57, a PEG ratio of 0.76 and a beta of 1.69. The business’s 50-day moving average is $14.19 and its 200 day moving average is $15.39.
OUTFRONT Media Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 10.33%. The ex-dividend date is Thursday, August 31st. OUTFRONT Media’s payout ratio is -47.24%.
OUTFRONT Media Company Profile
OUTFRONT leverages the power of technology, location and creativity to connect brands with consumers outside of their homes through one of the largest and most diverse sets of billboard, transit, and mobile assets in North America. Through its technology platform, OUTFRONT will fundamentally change the ways advertisers engage audiences on-the-go.
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