ZWJ Investment Counsel Inc. Cuts Stock Holdings in OUTFRONT Media Inc. $OUT

Key Points

• ZWJ Investment Counsel cut its stake in OUTFRONT Media by 17.7%, selling 258,258 shares and now holds 1,199,223 shares (0.72% of the company) worth about $28.9 million.
• OUTFRONT recently missed quarterly EPS ($0.55 vs. $0.71) while revenue slightly beat expectations. It pays a $0.30 quarterly dividend (4.1% yield) with a 150% payout ratio, and analysts are mostly bullish (six Buys, consensus target $27.86).

ZWJ Investment Counsel Inc. decreased its holdings in shares of OUTFRONT Media Inc. (NYSE:OUT - Free Report) by 17.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,199,223 shares of the financial services provider's stock after selling 258,258 shares during the period. ZWJ Investment Counsel Inc. owned 0.72% of OUTFRONT Media worth $28,901,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of OUT. AQR Capital Management LLC increased its holdings in OUTFRONT Media by 9.3% during the first quarter. AQR Capital Management LLC now owns 130,411 shares of the financial services provider's stock valued at $2,105,000 after buying an additional 11,073 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of OUTFRONT Media by 2.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 85,971 shares of the financial services provider's stock valued at $1,388,000 after acquiring an additional 1,739 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of OUTFRONT Media by 9.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,980,994 shares of the financial services provider's stock valued at $80,393,000 after acquiring an additional 448,993 shares during the period. Empowered Funds LLC increased its holdings in shares of OUTFRONT Media by 12.4% in the 1st quarter. Empowered Funds LLC now owns 21,399 shares of the financial services provider's stock valued at $345,000 after acquiring an additional 2,357 shares during the period. Finally, Woodline Partners LP increased its holdings in shares of OUTFRONT Media by 45.6% in the 1st quarter. Woodline Partners LP now owns 36,888 shares of the financial services provider's stock valued at $595,000 after acquiring an additional 11,559 shares during the period.

OUTFRONT Media Stock Down 0.5%

Shares of OUT stock opened at $29.11 on Wednesday. OUTFRONT Media Inc. has a 1-year low of $13.99 and a 1-year high of $29.53. The stock's fifty day moving average price is $27.10 and its 200 day moving average price is $23.66. The company has a debt-to-equity ratio of 3.63, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market cap of $5.12 billion, a price-to-earnings ratio of 36.39, a price-to-earnings-growth ratio of 1.41 and a beta of 1.51.

OUTFRONT Media (NYSE:OUT - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The financial services provider reported $0.55 earnings per share for the quarter, missing analysts' consensus estimates of $0.71 by ($0.16). OUTFRONT Media had a return on equity of 24.86% and a net margin of 8.03%.The business had revenue of $513.30 million for the quarter, compared to analysts' expectations of $511.61 million. On average, research analysts expect that OUTFRONT Media Inc. will post 1.59 earnings per share for the current fiscal year.

OUTFRONT Media Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Friday, March 6th. OUTFRONT Media's payout ratio is currently 150.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on OUT shares. TD Cowen lifted their target price on OUTFRONT Media from $24.00 to $32.00 and gave the company a "buy" rating in a research note on Thursday, February 26th. Morgan Stanley raised shares of OUTFRONT Media from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $20.00 to $28.00 in a research report on Tuesday, December 16th. Wells Fargo & Company lifted their price objective on shares of OUTFRONT Media from $27.00 to $30.00 and gave the stock an "overweight" rating in a research report on Friday, February 27th. Zacks Research downgraded shares of OUTFRONT Media from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 3rd. Finally, Barrington Research lifted their price target on shares of OUTFRONT Media from $27.00 to $33.00 and gave the stock an "outperform" rating in a report on Monday, March 2nd. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $27.86.

Insider Activity at OUTFRONT Media

In other news, Director Manuel A. Diaz sold 11,271 shares of the business's stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $26.93, for a total transaction of $303,528.03. Following the sale, the director directly owned 36,244 shares of the company's stock, valued at $976,050.92. The trade was a 23.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Matthew Siegel sold 50,000 shares of the business's stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $25.79, for a total transaction of $1,289,500.00. Following the sale, the executive vice president directly owned 289,925 shares in the company, valued at $7,477,165.75. This trade represents a 14.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 72,542 shares of company stock worth $1,869,055. 0.47% of the stock is owned by insiders.

About OUTFRONT Media

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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