ZWJ Investment Counsel Inc. Boosts Position in OUTFRONT Media Inc. $OUT

Key Points

• ZWJ Investment Counsel Inc. increased its stake in OUTFRONT Media by 2.4%, owning 1,477,099 shares valued at approximately $24.1 million as of the latest SEC filing.
• OUTFRONT Media's stock recently reported a 0.5% decline, with its current price at $18.19 and a market capitalization of $3.04 billion.
• The company issued a quarterly dividend of $0.30 on September 30th, resulting in an annualized dividend yield of 6.6%, though it currently shows a high payout ratio of 206.90%.

ZWJ Investment Counsel Inc. increased its stake in OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 2.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,477,099 shares of the financial services provider's stock after buying an additional 34,041 shares during the period. ZWJ Investment Counsel Inc. owned 0.88% of OUTFRONT Media worth $24,106,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. GraniteShares Advisors LLC increased its stake in OUTFRONT Media by 6.7% in the 2nd quarter. GraniteShares Advisors LLC now owns 155,984 shares of the financial services provider's stock worth $2,546,000 after buying an additional 9,746 shares during the period. State of Alaska Department of Revenue increased its stake in OUTFRONT Media by 2.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 150,001 shares of the financial services provider's stock worth $2,445,000 after buying an additional 3,908 shares during the period. GAMMA Investing LLC increased its stake in OUTFRONT Media by 113.7% in the 2nd quarter. GAMMA Investing LLC now owns 7,964 shares of the financial services provider's stock worth $130,000 after buying an additional 4,238 shares during the period. Moody National Bank Trust Division purchased a new position in OUTFRONT Media in the 2nd quarter worth about $295,000. Finally, Pensionfund DSM Netherlands increased its position in OUTFRONT Media by 29.6% during the 2nd quarter. Pensionfund DSM Netherlands now owns 30,617 shares of the financial services provider's stock valued at $500,000 after purchasing an additional 7,000 shares during the period.

OUTFRONT Media Stock Down 0.5%

Shares of OUTFRONT Media stock opened at $18.19 on Friday. The firm's 50 day moving average price is $18.38 and its 200-day moving average price is $16.85. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 4.60. OUTFRONT Media Inc. has a 52-week low of $12.95 and a 52-week high of $19.80. The company has a market cap of $3.04 billion, a P/E ratio of 31.11, a PEG ratio of 1.07 and a beta of 1.84.

OUTFRONT Media (NYSE:OUT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.03. OUTFRONT Media had a net margin of 5.99% and a return on equity of 18.07%. The firm had revenue of $460.20 million for the quarter, compared to the consensus estimate of $463.16 million. During the same quarter in the previous year, the firm earned $0.50 EPS. The company's quarterly revenue was down 3.6% compared to the same quarter last year. On average, sell-side analysts predict that OUTFRONT Media Inc. will post 1.59 EPS for the current fiscal year.

OUTFRONT Media Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.6%. OUTFRONT Media's payout ratio is presently 206.90%.

Insider Buying and Selling

In other news, major shareholder Pep Viii Gp Llc sold 8,400,000 shares of OUTFRONT Media stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $18.06, for a total value of $151,704,000.00. Following the transaction, the insider owned 8,913,813 shares of the company's stock, valued at $160,983,462.78. The trade was a 48.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark Emilio Bonanni sold 4,126 shares of OUTFRONT Media stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $19.38, for a total transaction of $79,961.88. Following the completion of the transaction, the executive vice president directly owned 4,170 shares in the company, valued at approximately $80,814.60. The trade was a 49.73% decrease in their position. The disclosure for this sale can be found here. 0.47% of the stock is owned by insiders.

Wall Street Analyst Weigh In

OUT has been the topic of a number of research reports. Wells Fargo & Company reissued an "overweight" rating on shares of OUTFRONT Media in a research report on Sunday, July 20th. Barrington Research reissued an "outperform" rating and set a $21.00 target price on shares of OUTFRONT Media in a research report on Tuesday, September 23rd. Morgan Stanley raised their target price on shares of OUTFRONT Media from $17.00 to $19.00 and gave the company an "equal weight" rating in a research report on Monday, August 4th. Finally, Wall Street Zen raised shares of OUTFRONT Media from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, OUTFRONT Media has a consensus rating of "Moderate Buy" and an average price target of $19.00.

OUTFRONT Media Company 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.

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