Principal Financial Group Inc. Has $12.07 Million Holdings in Evertec, Inc. $EVTC

Key Points

• Principal Financial Group increased its stake in Evertec by 16.5% in the first quarter, ending with 427,560 shares valued at about $12.07 million. Institutional investors now own 96.8% of the company.
• Evertec shares were up 2.2% to $29.72, and the stock trades at a market cap of $1.83 billion with a P/E ratio of 14.36. The company’s latest quarter missed earnings and revenue estimates by a small margin, though revenue still rose 8.4% year over year.
• The company declared a quarterly dividend of $0.05 per share, while insiders recently bought shares, including a director and the COO. Analysts currently have a Hold consensus rating on EVTC with a target price of $32.75.

Principal Financial Group Inc. grew its position in shares of Evertec, Inc. (NYSE:EVTC - Free Report) by 16.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 427,560 shares of the business services provider's stock after purchasing an additional 60,403 shares during the quarter. Principal Financial Group Inc. owned about 0.69% of Evertec worth $12,066,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Millennium Management LLC boosted its stake in shares of Evertec by 731.6% in the 3rd quarter. Millennium Management LLC now owns 686,281 shares of the business services provider's stock valued at $23,183,000 after purchasing an additional 603,753 shares during the last quarter. Voloridge Investment Management LLC raised its stake in Evertec by 151.5% during the fourth quarter. Voloridge Investment Management LLC now owns 285,693 shares of the business services provider's stock worth $8,311,000 after buying an additional 172,101 shares during the last quarter. Qube Research & Technologies Ltd raised its stake in Evertec by 422.5% during the second quarter. Qube Research & Technologies Ltd now owns 208,037 shares of the business services provider's stock worth $7,500,000 after buying an additional 168,225 shares during the last quarter. Boston Partners lifted its holdings in Evertec by 45.0% in the third quarter. Boston Partners now owns 526,864 shares of the business services provider's stock valued at $17,656,000 after buying an additional 163,398 shares during the period. Finally, Clark Capital Management Group Inc. lifted its holdings in Evertec by 44.8% in the fourth quarter. Clark Capital Management Group Inc. now owns 525,235 shares of the business services provider's stock valued at $15,279,000 after buying an additional 162,512 shares during the period. Institutional investors own 96.80% of the company's stock.

Evertec Stock Up 2.2%

Shares of NYSE EVTC opened at $29.72 on Friday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 1.56. The firm has a market cap of $1.83 billion, a PE ratio of 14.36, a P/E/G ratio of 0.99 and a beta of 0.71. The company's fifty day simple moving average is $26.66 and its 200 day simple moving average is $27.68. Evertec, Inc. has a 12-month low of $21.81 and a 12-month high of $37.71.

Evertec (NYSE:EVTC - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The business services provider reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.01). The company had revenue of $247.92 million during the quarter, compared to the consensus estimate of $248.99 million. Evertec had a net margin of 13.95% and a return on equity of 31.40%. The company's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period last year, the firm posted $0.87 earnings per share. Evertec has set its FY 2026 guidance at 3.860-3.980 EPS. As a group, sell-side analysts forecast that Evertec, Inc. will post 3.34 earnings per share for the current fiscal year.

Evertec Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Monday, August 3rd will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, August 3rd. Evertec's dividend payout ratio is 9.66%.

Insider Buying and Selling

In other news, Director Brian John Smith purchased 16,202 shares of the business's stock in a transaction on Friday, June 12th. The shares were acquired at an average price of $26.42 per share, for a total transaction of $428,056.84. Following the completion of the acquisition, the director owned 88,222 shares in the company, valued at approximately $2,330,825.24. The trade was a 22.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Joaquin A. Castrillo-Salgado acquired 20,000 shares of Evertec stock in a transaction on Friday, May 8th. The stock was purchased at an average cost of $22.74 per share, with a total value of $454,800.00. Following the purchase, the chief operating officer directly owned 143,987 shares of the company's stock, valued at approximately $3,274,264.38. This trade represents a 16.13% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have bought 53,202 shares of company stock valued at $1,292,557. 1.13% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on EVTC shares. Morgan Stanley decreased their price target on Evertec from $29.00 to $25.00 and set an "equal weight" rating for the company in a report on Tuesday, May 19th. Weiss Ratings downgraded Evertec from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, May 22nd. Wall Street Zen lowered Evertec from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $34.00 target price on shares of Evertec in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Evertec presently has a consensus rating of "Hold" and a consensus target price of $32.75.

About Evertec

Evertec, Inc NYSE: EVTC is a leading full‐service transaction processor in Puerto Rico, Latin America and the Caribbean. The company delivers integrated technology solutions for electronic payments, providing financial institutions, merchants and governments with secure and scalable platforms to accept, process and settle transactions across card, ATM, debit and digital channels. Headquartered in San Juan, Puerto Rico, Evertec supports both domestic and cross‐border payment flows, enabling clients to streamline operations and expand their digital commerce capabilities.

Evertec's suite of services includes merchant acquiring, payment gateway connectivity, ATM and point‐of‐sale network management, and fraud prevention solutions.

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