OUTFRONT Media Inc. (NYSE:OUT) Shares Purchased by Vestcor Inc

Key Points

• Vestcor Inc significantly increased its stake in OUTFRONT Media by 320.1% in Q1, holding approximately 177,119 shares valued at $2.86 million as of their latest SEC filing.
• OUTFRONT Media reported a net margin of 14.60% and a return on equity of 42.24% for the quarter, with earnings of $0.14 per share, missing analysts' estimates.
• The company recently announced a quarterly dividend of $0.30 per share, resulting in an annual yield of 6.8%, with a payout ratio of 78.95%.

Vestcor Inc lifted its stake in OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 320.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 177,119 shares of the financial services provider's stock after purchasing an additional 134,954 shares during the period. Vestcor Inc owned approximately 0.11% of OUTFRONT Media worth $2,859,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in OUT. Principal Financial Group Inc. raised its stake in shares of OUTFRONT Media by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 687,300 shares of the financial services provider's stock worth $11,093,000 after buying an additional 16,470 shares during the last quarter. GAMMA Investing LLC grew its stake in OUTFRONT Media by 1,484.2% in the 1st quarter. GAMMA Investing LLC now owns 60,138 shares of the financial services provider's stock valued at $971,000 after acquiring an additional 56,342 shares during the last quarter. SG Americas Securities LLC increased its holdings in OUTFRONT Media by 429.8% during the 1st quarter. SG Americas Securities LLC now owns 32,760 shares of the financial services provider's stock valued at $529,000 after acquiring an additional 26,577 shares in the last quarter. Pacific Heights Asset Management LLC raised its position in OUTFRONT Media by 122.2% during the first quarter. Pacific Heights Asset Management LLC now owns 500,000 shares of the financial services provider's stock worth $8,070,000 after acquiring an additional 275,000 shares during the last quarter. Finally, Penserra Capital Management LLC acquired a new position in OUTFRONT Media during the first quarter worth about $929,000.

Analysts Set New Price Targets

OUT has been the topic of several research reports. Wall Street Zen lowered shares of OUTFRONT Media from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. JPMorgan Chase & Co. reduced their target price on OUTFRONT Media from $20.00 to $19.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 21st. Wells Fargo & Company reissued an "overweight" rating on shares of OUTFRONT Media in a research report on Sunday, July 20th. Citigroup reissued a "buy" rating and issued a $19.00 price target (up from $17.00) on shares of OUTFRONT Media in a report on Thursday, May 29th. Finally, Morgan Stanley decreased their price objective on OUTFRONT Media from $18.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $18.60.

Insider Activity

In related news, EVP Richard H. Sauer sold 20,109 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $15.88, for a total transaction of $319,330.92. Following the completion of the transaction, the executive vice president owned 70,836 shares of the company's stock, valued at approximately $1,124,875.68. This represents a 22.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.47% of the company's stock.

OUTFRONT Media Trading Down 1.7%

Shares of OUT stock traded down $0.30 during mid-day trading on Friday, hitting $17.23. 1,770,081 shares of the company's stock were exchanged, compared to its average volume of 1,194,303. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 1.06 and a beta of 1.89. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 4.37. OUTFRONT Media Inc. has a fifty-two week low of $12.95 and a fifty-two week high of $19.50. The stock has a 50-day simple moving average of $16.85 and a two-hundred day simple moving average of $16.76.

OUTFRONT Media (NYSE:OUT - Get Free Report) last released its earnings results on Thursday, May 8th. The financial services provider reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). OUTFRONT Media had a return on equity of 42.24% and a net margin of 14.60%. The business had revenue of $390.70 million for the quarter, compared to analysts' expectations of $396.17 million. Equities analysts expect that OUTFRONT Media Inc. will post 1.59 EPS for the current fiscal year.

OUTFRONT Media Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, June 6th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.20 annualized dividend and a dividend yield of 7.0%. OUTFRONT Media's dividend payout ratio (DPR) is currently 78.95%.

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.