Ameriprise Financial Inc. Grows Position in FTI Consulting, Inc. (NYSE:FCN)

Ameriprise Financial Inc. lifted its holdings in FTI Consulting, Inc. (NYSE:FCN - Free Report) by 30.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 276,702 shares of the business services provider's stock after acquiring an additional 64,431 shares during the period. Ameriprise Financial Inc. owned approximately 0.77% of FTI Consulting worth $52,886,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. CIBC Asset Management Inc increased its position in FTI Consulting by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 1,083 shares of the business services provider's stock valued at $207,000 after acquiring an additional 55 shares during the period. GeoWealth Management LLC boosted its stake in shares of FTI Consulting by 46.0% in the 4th quarter. GeoWealth Management LLC now owns 181 shares of the business services provider's stock valued at $35,000 after purchasing an additional 57 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in FTI Consulting by 2.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 3,435 shares of the business services provider's stock valued at $657,000 after buying an additional 85 shares during the period. Sequoia Financial Advisors LLC lifted its stake in FTI Consulting by 3.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 2,389 shares of the business services provider's stock valued at $457,000 after buying an additional 89 shares during the period. Finally, UMB Bank n.a. lifted its stake in FTI Consulting by 59.6% in the fourth quarter. UMB Bank n.a. now owns 265 shares of the business services provider's stock valued at $51,000 after buying an additional 99 shares during the period. Institutional investors and hedge funds own 99.36% of the company's stock.

Insider Buying and Selling at FTI Consulting

In other FTI Consulting news, CFO Ajay Sabherwal sold 5,236 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $164.60, for a total value of $861,845.60. Following the sale, the chief financial officer now directly owns 24,777 shares in the company, valued at $4,078,294.20. This represents a 17.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.51% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on FCN shares. The Goldman Sachs Group lowered their target price on FTI Consulting from $194.00 to $173.00 and set a "neutral" rating on the stock in a research report on Friday, February 21st. StockNews.com lowered shares of FTI Consulting from a "buy" rating to a "hold" rating in a report on Thursday, April 3rd. Truist Financial downgraded FTI Consulting from a "buy" rating to a "hold" rating and cut their price target for the company from $225.00 to $178.00 in a research note on Wednesday, April 2nd. Finally, William Blair reissued an "outperform" rating on shares of FTI Consulting in a research note on Friday, April 25th.

FTI Consulting Stock Performance

FCN traded down $0.96 during mid-day trading on Wednesday, reaching $161.95. 484,168 shares of the stock were exchanged, compared to its average volume of 243,930. FTI Consulting, Inc. has a 1 year low of $151.75 and a 1 year high of $243.60. The stock has a market capitalization of $5.55 billion, a PE ratio of 20.76 and a beta of 0.18. The company has a 50 day moving average price of $163.13 and a two-hundred day moving average price of $182.35.

FTI Consulting (NYSE:FCN - Get Free Report) last posted its earnings results on Thursday, April 24th. The business services provider reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.50. FTI Consulting had a net margin of 7.57% and a return on equity of 13.15%. The firm had revenue of $898.28 million during the quarter, compared to analyst estimates of $906.93 million. During the same quarter in the prior year, the business posted $2.23 EPS. The business's revenue was down 3.3% compared to the same quarter last year. Sell-side analysts expect that FTI Consulting, Inc. will post 8.55 EPS for the current fiscal year.

FTI Consulting announced that its board has authorized a stock repurchase plan on Thursday, April 24th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the business services provider to reacquire up to 6.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

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.