Northern Trust Corp Boosts Position in FTI Consulting, Inc. (NYSE:FCN)

Northern Trust Corp grew its stake in FTI Consulting, Inc. (NYSE:FCN - Free Report) by 20.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 357,614 shares of the business services provider's stock after acquiring an additional 61,278 shares during the period. Northern Trust Corp owned about 1.00% of FTI Consulting worth $68,351,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in shares of FTI Consulting by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 438,808 shares of the business services provider's stock valued at $83,869,000 after acquiring an additional 8,032 shares during the period. Isthmus Partners LLC purchased a new stake in FTI Consulting during the 4th quarter worth approximately $447,000. Ieq Capital LLC increased its stake in FTI Consulting by 214.4% during the 4th quarter. Ieq Capital LLC now owns 6,074 shares of the business services provider's stock worth $1,161,000 after buying an additional 4,142 shares during the period. California Public Employees Retirement System increased its stake in FTI Consulting by 3.4% during the 4th quarter. California Public Employees Retirement System now owns 146,858 shares of the business services provider's stock worth $28,069,000 after buying an additional 4,853 shares during the period. Finally, Dakota Wealth Management increased its stake in FTI Consulting by 570.2% during the 4th quarter. Dakota Wealth Management now owns 6,521 shares of the business services provider's stock worth $1,246,000 after buying an additional 5,548 shares during the period. 99.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at FTI Consulting

In related news, CFO Ajay Sabherwal sold 5,236 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $164.60, for a total value of $861,845.60. Following the sale, the chief financial officer now directly owns 24,777 shares of the company's stock, valued at approximately $4,078,294.20. This represents a 17.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.51% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group cut their target price on shares of FTI Consulting from $194.00 to $173.00 and set a "neutral" rating on the stock in a research note on Friday, February 21st. StockNews.com cut shares of FTI Consulting from a "buy" rating to a "hold" rating in a report on Thursday, April 3rd. William Blair reiterated an "outperform" rating on shares of FTI Consulting in a research note on Friday, April 25th. Finally, Truist Financial cut shares of FTI Consulting from a "buy" rating to a "hold" rating and decreased their price target for the stock from $225.00 to $178.00 in a research note on Wednesday, April 2nd.

FTI Consulting Trading Down 1.1%

Shares of FCN traded down $1.82 during trading hours on Friday, reaching $165.00. The company had a trading volume of 241,726 shares, compared to its average volume of 241,298. The firm has a 50 day simple moving average of $163.51 and a 200-day simple moving average of $182.87. The company has a market capitalization of $5.66 billion, a price-to-earnings ratio of 21.15 and a beta of 0.18. FTI Consulting, Inc. has a 12-month low of $151.75 and a 12-month high of $243.60.

FTI Consulting (NYSE:FCN - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.29 EPS for the quarter, beating analysts' consensus estimates of $1.79 by $0.50. The firm had revenue of $898.28 million for the quarter, compared to analysts' expectations of $906.93 million. FTI Consulting had a net margin of 7.57% and a return on equity of 13.15%. The firm's revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.23 EPS. Sell-side analysts forecast that FTI Consulting, Inc. will post 8.55 earnings per share for the current year.

FTI Consulting announced that its board has initiated a stock buyback program on Thursday, April 24th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the business services provider to purchase up to 6.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

FTI Consulting Company Profile

FTI Consulting, Inc provides business advisory services to manage change, mitigate risk, and resolve disputes worldwide. The company operates through Corporate Finance & Restructuring, Forensic and Litigation Consulting, Economic Consulting, Technology, and Strategic Communications segments. The Corporate Finance & Restructuring segment provides business transformation and strategy, transactions, and turnaround and restructuring services.