Principal Financial Group Inc. Decreases Stock Position in Kforce Inc. (NASDAQ:KFRC)

Principal Financial Group Inc. reduced its holdings in shares of Kforce Inc. (NASDAQ:KFRCFree Report) by 4.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,784 shares of the business services provider’s stock after selling 488 shares during the quarter. Principal Financial Group Inc. owned 0.05% of Kforce worth $690,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in KFRC. Vaughan Nelson Investment Management L.P. lifted its stake in Kforce by 14.6% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 732,868 shares of the business services provider’s stock worth $51,682,000 after purchasing an additional 93,180 shares during the last quarter. Access Investment Management LLC bought a new position in Kforce during the fourth quarter worth $3,103,000. Franklin Resources Inc. lifted its stake in Kforce by 4.2% during the fourth quarter. Franklin Resources Inc. now owns 999,557 shares of the business services provider’s stock worth $67,530,000 after purchasing an additional 40,527 shares during the last quarter. Wellington Management Group LLP lifted its stake in Kforce by 151.5% during the fourth quarter. Wellington Management Group LLP now owns 62,280 shares of the business services provider’s stock worth $4,208,000 after purchasing an additional 37,512 shares during the last quarter. Finally, Alps Advisors Inc. bought a new position in Kforce during the third quarter worth $722,000. 92.77% of the stock is currently owned by hedge funds and other institutional investors.

Kforce Price Performance

Shares of KFRC opened at $61.22 on Friday. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 19.10 and a beta of 0.89. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.32 and a current ratio of 2.32. Kforce Inc. has a one year low of $53.75 and a one year high of $74.79. The stock’s fifty day moving average is $62.36 and its 200-day moving average is $65.89.

Kforce (NASDAQ:KFRCGet Free Report) last issued its quarterly earnings results on Monday, April 29th. The business services provider reported $0.58 EPS for the quarter, meeting analysts’ consensus estimates of $0.58. The company had revenue of $351.89 million for the quarter, compared to analyst estimates of $354.92 million. Kforce had a return on equity of 36.39% and a net margin of 3.78%. The company’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same period last year, the company earned $0.82 earnings per share. Equities analysts anticipate that Kforce Inc. will post 2.82 EPS for the current year.

Kforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend was Friday, June 14th. Kforce’s payout ratio is currently 52.60%.

Insider Buying and Selling

In related news, CEO Joseph J. Liberatore sold 6,638 shares of Kforce stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $62.02, for a total transaction of $411,688.76. Following the transaction, the chief executive officer now directly owns 213,689 shares of the company’s stock, valued at $13,252,991.78. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Andrew G. Thomas sold 4,801 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $61.43, for a total value of $294,925.43. Following the completion of the transaction, the insider now owns 94,095 shares in the company, valued at approximately $5,780,255.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joseph J. Liberatore sold 6,638 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $62.02, for a total value of $411,688.76. Following the completion of the transaction, the chief executive officer now owns 213,689 shares of the company’s stock, valued at approximately $13,252,991.78. The disclosure for this sale can be found here. Insiders have sold a total of 16,439 shares of company stock valued at $1,015,114 over the last three months. Company insiders own 5.30% of the company’s stock.

Analyst Ratings Changes

Separately, Robert W. Baird dropped their target price on Kforce from $72.00 to $71.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 30th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $68.00.

Get Our Latest Analysis on KFRC

Kforce Company Profile

(Free Report)

Kforce Inc provides professional staffing services and solutions in the United States. It operates through two segments, Technology, and Finance and Accounting (FA). The Technology segment provides talent solutions to its clients primarily in the areas of information technology, such as systems/applications architecture and development, data management and analytics, business and artificial intelligence, machine learning, project and program management, and network architecture and security.

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Institutional Ownership by Quarter for Kforce (NASDAQ:KFRC)

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