Charles Schwab Investment Management Inc. Sells 108,891 Shares of OUTFRONT Media Inc. $OUT

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in OUTFRONT Media by 3.6%, selling 108,891 shares, and now holds 1.76% of the company worth approximately $47.54 million.
• OUTFRONT Media recently announced a quarterly dividend of $0.30 per share, resulting in an annualized dividend yield of 6.4% with a current payout ratio of 206.90%.
• Analysts have varied outlooks on OUTFRONT Media, with price targets ranging from $19.00 to $21.00 and an average rating of "Hold."

Charles Schwab Investment Management Inc. cut its stake in OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 3.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,945,440 shares of the financial services provider's stock after selling 108,891 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.76% of OUTFRONT Media worth $47,539,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its position in OUTFRONT Media by 9.1% in the fourth quarter. Wellington Management Group LLP now owns 4,115,268 shares of the financial services provider's stock valued at $73,005,000 after purchasing an additional 342,413 shares during the period. Lasalle Investment Management Securities LLC raised its position in OUTFRONT Media by 2.1% in the fourth quarter. Lasalle Investment Management Securities LLC now owns 3,146,553 shares of the financial services provider's stock valued at $55,820,000 after purchasing an additional 64,072 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in OUTFRONT Media by 7.3% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,248,114 shares of the financial services provider's stock valued at $36,285,000 after purchasing an additional 153,617 shares during the period. Northern Trust Corp raised its position in OUTFRONT Media by 8.2% in the fourth quarter. Northern Trust Corp now owns 2,119,006 shares of the financial services provider's stock valued at $37,591,000 after purchasing an additional 159,848 shares during the period. Finally, LSV Asset Management raised its position in OUTFRONT Media by 25.7% in the first quarter. LSV Asset Management now owns 2,005,448 shares of the financial services provider's stock valued at $32,368,000 after purchasing an additional 410,086 shares during the period.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Morgan Stanley lifted their target price on OUTFRONT Media from $17.00 to $19.00 and gave the stock an "equal weight" rating in a research report on Monday, August 4th. Citigroup reaffirmed a "buy" rating and set a $19.00 price target (up previously from $17.00) on shares of OUTFRONT Media in a report on Thursday, May 29th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of OUTFRONT Media in a report on Sunday, July 20th. JPMorgan Chase & Co. dropped their target price on OUTFRONT Media from $20.00 to $19.00 and set a "neutral" rating on the stock in a report on Wednesday, May 21st. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $21.00 price target on shares of OUTFRONT Media in a report on Wednesday, August 6th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, OUTFRONT Media presently has an average rating of "Moderate Buy" and an average price target of $19.00.

Insider Activity at OUTFRONT Media

In other news, EVP Richard H. Sauer sold 29,891 shares of the business's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $15.79, for a total transaction of $471,978.89. Following the transaction, the executive vice president directly owned 90,945 shares in the company, valued at $1,436,021.55. The trade was a 24.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.47% of the stock is currently owned by corporate insiders.

OUTFRONT Media Trading Down 0.6%

NYSE OUT traded down $0.1190 on Thursday, hitting $18.8810. 1,070,332 shares of the stock were exchanged, compared to its average volume of 1,544,105. OUTFRONT Media Inc. has a 52-week low of $12.95 and a 52-week high of $19.50. The company has a debt-to-equity ratio of 4.60, a current ratio of 0.61 and a quick ratio of 0.61. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of 32.30, a P/E/G ratio of 1.13 and a beta of 1.89. The company's 50-day moving average price is $17.34 and its two-hundred day moving average price is $16.73.

OUTFRONT Media (NYSE:OUT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.03. OUTFRONT Media had a net margin of 5.99% and a return on equity of 18.07%. The firm had revenue of $460.20 million for the quarter, compared to analysts' expectations of $463.16 million. During the same period in the previous year, the company posted $0.50 EPS. The company's quarterly revenue was down 3.6% compared to the same quarter last year. Research analysts predict that OUTFRONT Media Inc. will post 1.59 EPS for the current year.

OUTFRONT Media Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 6.4%. The ex-dividend date is Friday, September 5th. OUTFRONT Media's payout ratio is currently 206.90%.

OUTFRONT Media Profile

OUTFRONT Media, Inc leases advertising space on out-of-home advertising structures and sites. Its inventory consists of billboard displays, which are primarily located on the most heavily traveled highways & roadways, and transit advertising displays operated under exclusive multi-year contracts with municipalities in large cities across the U.S.