Principal Financial Group Inc. Raises Stock Holdings in Korn/Ferry International (NYSE:KFY)

Principal Financial Group Inc. raised its stake in Korn/Ferry International (NYSE:KFY - Free Report) by 1.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 284,607 shares of the business services provider's stock after acquiring an additional 5,128 shares during the period. Principal Financial Group Inc. owned approximately 0.55% of Korn/Ferry International worth $19,305,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its stake in shares of Korn/Ferry International by 4.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,388,500 shares of the business services provider's stock worth $95,001,000 after acquiring an additional 62,779 shares during the last quarter. Artemis Investment Management LLP grew its stake in shares of Korn/Ferry International by 64.7% in the first quarter. Artemis Investment Management LLP now owns 620,521 shares of the business services provider's stock worth $42,090,000 after acquiring an additional 243,759 shares during the last quarter. Institute for Wealth Management LLC. purchased a new stake in shares of Korn/Ferry International in the first quarter worth $223,000. QRG Capital Management Inc. grew its stake in shares of Korn/Ferry International by 4.7% in the first quarter. QRG Capital Management Inc. now owns 14,158 shares of the business services provider's stock worth $960,000 after acquiring an additional 630 shares during the last quarter. Finally, Ritholtz Wealth Management lifted its holdings in shares of Korn/Ferry International by 311.6% during the first quarter. Ritholtz Wealth Management now owns 13,545 shares of the business services provider's stock valued at $919,000 after purchasing an additional 10,254 shares in the last quarter. 98.82% of the stock is owned by hedge funds and other institutional investors.

Korn/Ferry International Stock Performance

Shares of NYSE:KFY traded down $1.24 during midday trading on Friday, reaching $73.56. 428,901 shares of the company's stock traded hands, compared to its average volume of 401,291. The company has a market cap of $3.79 billion, a price-to-earnings ratio of 15.92 and a beta of 1.42. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.83 and a current ratio of 1.83. Korn/Ferry International has a one year low of $59.23 and a one year high of $80.64. The stock has a 50 day moving average of $69.81 and a 200 day moving average of $67.43.

Korn/Ferry International (NYSE:KFY - Get Free Report) last posted its earnings results on Wednesday, June 18th. The business services provider reported $1.32 earnings per share for the quarter, beating analysts' consensus estimates of $1.26 by $0.06. Korn/Ferry International had a return on equity of 14.49% and a net margin of 8.91%. The company had revenue of $712.05 million for the quarter, compared to the consensus estimate of $690.07 million. During the same quarter in the prior year, the company earned $1.26 earnings per share. Korn/Ferry International's revenue was up 3.1% on a year-over-year basis. As a group, equities research analysts anticipate that Korn/Ferry International will post 4.75 EPS for the current fiscal year.

Korn/Ferry International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Thursday, July 3rd. Korn/Ferry International's dividend payout ratio is 41.56%.

Analysts Set New Price Targets

KFY has been the topic of a number of research analyst reports. UBS Group lowered their price target on Korn/Ferry International from $75.00 to $74.00 and set a "neutral" rating on the stock in a report on Tuesday, May 27th. Wall Street Zen downgraded Korn/Ferry International from a "strong-buy" rating to a "buy" rating in a report on Wednesday. Finally, Truist Financial upped their price target on Korn/Ferry International from $80.00 to $88.00 and gave the company a "buy" rating in a report on Friday, June 20th.

Korn/Ferry International Company Profile

Korn Ferry, together with its subsidiaries, provides organizational consulting services worldwide. It operates through four segments: Consulting, Digital, Executive Search, and Recruitment Process Outsourcing (RPO) & Professional Search. The company provides executive search services to recruit board level, chief executive, other senior executive, and general management talent of organizations.