Principal Financial Group Inc. Boosts Holdings in CGI Group, Inc. (NYSE:GIB)

Principal Financial Group Inc. raised its stake in CGI Group, Inc. (NYSE:GIBFree Report) (TSE:GIB.A) by 0.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,151 shares of the technology company’s stock after acquiring an additional 500 shares during the quarter. Principal Financial Group Inc.’s holdings in CGI Group were worth $5,505,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GIB. Vontobel Holding Ltd. increased its stake in shares of CGI Group by 1.7% in the first quarter. Vontobel Holding Ltd. now owns 6,135 shares of the technology company’s stock worth $613,000 after purchasing an additional 100 shares in the last quarter. First Affirmative Financial Network boosted its holdings in CGI Group by 3.8% in the 1st quarter. First Affirmative Financial Network now owns 2,905 shares of the technology company’s stock worth $290,000 after buying an additional 106 shares during the period. Ameriprise Financial Inc. grew its stake in CGI Group by 0.9% in the 4th quarter. Ameriprise Financial Inc. now owns 12,619 shares of the technology company’s stock valued at $1,380,000 after buying an additional 115 shares in the last quarter. Manhattan West Asset Management LLC raised its holdings in CGI Group by 0.5% during the 4th quarter. Manhattan West Asset Management LLC now owns 25,425 shares of the technology company’s stock valued at $2,779,000 after acquiring an additional 126 shares during the period. Finally, Fifth Third Bancorp lifted its position in shares of CGI Group by 239.5% during the first quarter. Fifth Third Bancorp now owns 258 shares of the technology company’s stock worth $26,000 after acquiring an additional 182 shares in the last quarter. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

CGI Group Stock Up 0.8%

Shares of NYSE:GIB opened at $101.02 on Thursday. The firm has a fifty day moving average price of $106.16 and a two-hundred day moving average price of $107.17. The company has a market cap of $22.67 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 1.86 and a beta of 0.76. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 0.92. CGI Group, Inc. has a one year low of $92.85 and a one year high of $122.79.

CGI Group (NYSE:GIBGet Free Report) (TSE:GIB.A) last posted its earnings results on Wednesday, April 30th. The technology company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.50 by ($0.02). CGI Group had a return on equity of 18.86% and a net margin of 11.53%. The business had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter in the previous year, the firm earned $1.97 earnings per share. CGI Group’s quarterly revenue was up 7.6% compared to the same quarter last year. Analysts anticipate that CGI Group, Inc. will post 5.79 EPS for the current fiscal year.

CGI Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, May 16th were paid a $0.1086 dividend. This is an increase from CGI Group’s previous quarterly dividend of $0.10. This represents a $0.43 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Friday, May 16th. CGI Group’s dividend payout ratio (DPR) is currently 7.83%.

Analyst Ratings Changes

Separately, Royal Bank Of Canada reiterated an “outperform” rating and set a $192.00 price objective on shares of CGI Group in a research note on Wednesday, March 26th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, CGI Group currently has a consensus rating of “Buy” and a consensus price target of $156.75.

Get Our Latest Analysis on CGI Group

About CGI Group

(Free Report)

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services. Its services include the business and strategic IT consulting, systems integration, and software solutions. The company also provides application development, modernization and maintenance, holistic enterprise digitization, automation, hybrid and cloud management, and business process services; intellectual property-based solutions; business consulting; managed IT services; and IT infrastructure services.

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Institutional Ownership by Quarter for CGI Group (NYSE:GIB)

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