Sumitomo Mitsui Trust Group Inc. Sells 235,462 Shares of OUTFRONT Media Inc. $OUT

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 11.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,737,042 shares of the financial services provider's stock after selling 235,462 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.99% of OUTFRONT Media worth $46,032,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Balyasny Asset Management L.P. increased its stake in OUTFRONT Media by 226.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,310,195 shares of the financial services provider's stock worth $55,676,000 after purchasing an additional 1,603,315 shares during the period. Vanguard Group Inc. boosted its stake in shares of OUTFRONT Media by 5.3% during the fourth quarter. Vanguard Group Inc. now owns 22,654,899 shares of the financial services provider's stock valued at $545,983,000 after purchasing an additional 1,131,954 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of OUTFRONT Media by 85.2% during the second quarter. Ameriprise Financial Inc. now owns 1,788,695 shares of the financial services provider's stock valued at $29,192,000 after purchasing an additional 822,845 shares during the period. Woodline Partners LP bought a new position in shares of OUTFRONT Media in the third quarter worth about $13,705,000. Finally, Federated Hermes Inc. grew its holdings in shares of OUTFRONT Media by 199.9% in the fourth quarter. Federated Hermes Inc. now owns 905,641 shares of the financial services provider's stock worth $21,826,000 after purchasing an additional 603,694 shares during the last quarter.

OUTFRONT Media Stock Down 0.3%

NYSE:OUT opened at $32.93 on Monday. The company has a debt-to-equity ratio of 3.90, a current ratio of 0.82 and a quick ratio of 0.82. OUTFRONT Media Inc. has a 1-year low of $16.64 and a 1-year high of $34.96. The company has a 50-day moving average of $32.11 and a 200 day moving average of $28.51. The firm has a market cap of $5.80 billion, a PE ratio of 31.36, a price-to-earnings-growth ratio of 1.56 and a beta of 1.48.

OUTFRONT Media (NYSE:OUT - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.34 EPS for the quarter, beating the consensus estimate of $0.28 by $0.06. OUTFRONT Media had a net margin of 9.98% and a return on equity of 30.36%. The business had revenue of $429.60 million during the quarter, compared to analyst estimates of $431.44 million. During the same quarter in the previous year, the business posted $0.14 EPS. The company's quarterly revenue was up 10.0% compared to the same quarter last year. As a group, research analysts anticipate that OUTFRONT Media Inc. will post 2.12 EPS for the current fiscal year.

OUTFRONT Media Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Friday, June 5th. OUTFRONT Media's dividend payout ratio (DPR) is 114.29%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wall Street Zen cut shares of OUTFRONT Media from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 20th. TD Cowen reaffirmed a "buy" rating and set a $38.00 target price (up from $32.00) on shares of OUTFRONT Media in a research report on Tuesday, May 12th. Morgan Stanley set a $37.00 price target on shares of OUTFRONT Media in a research note on Friday, May 8th. Finally, Barrington Research set a $38.00 price target on OUTFRONT Media in a report on Tuesday, May 12th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $30.71.

Insiders Place Their Bets

In other news, EVP James Michael Norton bought 4,130 shares of OUTFRONT Media stock in a transaction on Thursday, June 11th. The stock was acquired at an average cost of $30.81 per share, for a total transaction of $127,245.30. Following the completion of the acquisition, the executive vice president owned 4,130 shares of the company's stock, valued at $127,245.30. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Richard H. Sauer sold 5,000 shares of the business's stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $32.08, for a total transaction of $160,400.00. Following the completion of the transaction, the executive vice president owned 56,947 shares of the company's stock, valued at $1,826,859.76. This represents a 8.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 20,000 shares of company stock worth $629,600 over the last quarter. Company insiders own 0.47% of the company's stock.

OUTFRONT Media Profile

OUTFRONT Media Inc is a leading out-of-home (OOH) advertising company offering a broad range of billboard, transit and digital display solutions across major urban markets in the United States and Canada. Its portfolio encompasses traditional static billboards, high-resolution digital signage, transit media on buses, trains and taxis, as well as street furniture placements such as bus shelters, kiosks and urban panels. The company partners with brand marketers to deliver high-impact campaigns that engage consumers outside the home environment.

Through an extensive network of assets in key metropolitan areas, OUTFRONT provides advertisers with premium visibility along highways, city streets and transit corridors.

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