Russell Investments Group Ltd. Acquires 10,135 Shares of IDT Corporation $IDT

Key Points

• Russell Investments Group Ltd. increased its ownership of IDT Corporation by 6.7%, holding a total of 160,674 shares worth approximately $8.25 million.
• A majority of IDT's stock, approximately 59.34%, is now owned by institutional investors and hedge funds, with notable increases from several firms.
• IDT recently reported earnings of $0.87 EPS and declared a quarterly dividend of $0.06 per share, which translates to an annual yield of 0.4%.

Russell Investments Group Ltd. increased its position in IDT Corporation (NYSE:IDT - Free Report) by 6.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 160,674 shares of the utilities provider's stock after acquiring an additional 10,135 shares during the period. Russell Investments Group Ltd. owned about 0.64% of IDT worth $8,245,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of IDT. Wells Fargo & Company MN grew its holdings in shares of IDT by 66.8% in the fourth quarter. Wells Fargo & Company MN now owns 13,271 shares of the utilities provider's stock worth $631,000 after acquiring an additional 5,313 shares during the period. Invesco Ltd. grew its holdings in shares of IDT by 5.9% in the fourth quarter. Invesco Ltd. now owns 28,627 shares of the utilities provider's stock worth $1,360,000 after acquiring an additional 1,594 shares during the period. Raymond James Financial Inc. bought a new stake in shares of IDT in the fourth quarter worth $201,000. Barclays PLC grew its holdings in shares of IDT by 78.4% in the fourth quarter. Barclays PLC now owns 48,283 shares of the utilities provider's stock worth $2,294,000 after acquiring an additional 21,217 shares during the period. Finally, MetLife Investment Management LLC grew its holdings in shares of IDT by 7.4% in the fourth quarter. MetLife Investment Management LLC now owns 9,294 shares of the utilities provider's stock worth $442,000 after acquiring an additional 643 shares during the period. Institutional investors own 59.34% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered IDT from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 14th.

IDT Stock Down 0.5%

NYSE:IDT traded down $0.29 during mid-day trading on Monday, hitting $63.03. 114,324 shares of the company traded hands, compared to its average volume of 136,073. The stock's fifty day moving average price is $62.27 and its 200-day moving average price is $56.25. IDT Corporation has a one year low of $36.12 and a one year high of $71.12. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 16.63 and a beta of 0.74.

IDT (NYSE:IDT - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The utilities provider reported $0.87 earnings per share (EPS) for the quarter. IDT had a return on equity of 26.38% and a net margin of 7.85%.The business had revenue of $301.98 million during the quarter.

IDT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, June 9th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.4%. IDT's dividend payout ratio (DPR) is 6.33%.

IDT Company Profile

IDT Corporation provides communications and payment services in the United States, the United Kingdom, and internationally. It operates through Fintech, National Retail Solutions, net2phone, and Traditional Communications segments. The company operates point of sale, a terminal-based platform which provides independent retailers store management software, electronic payment processing, and other ancillary merchant services; and provides marketers with digital out-of-home advertising and transaction data.