Principal Financial Group Inc. Lowers Stock Position in Cable One, Inc. (NYSE:CABO)

Principal Financial Group Inc. lessened its stake in shares of Cable One, Inc. (NYSE:CABO - Free Report) by 6.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 55,782 shares of the company's stock after selling 4,098 shares during the period. Principal Financial Group Inc. owned 0.99% of Cable One worth $31,048,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CABO. Markel Group Inc. grew its stake in Cable One by 41.2% in the third quarter. Markel Group Inc. now owns 37,700 shares of the company's stock valued at $23,210,000 after acquiring an additional 11,000 shares during the period. Jump Financial LLC grew its position in Cable One by 386.8% in the 3rd quarter. Jump Financial LLC now owns 1,845 shares of the company's stock valued at $1,136,000 after purchasing an additional 1,466 shares during the period. Chartwell Investment Partners LLC increased its stake in Cable One by 37.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 4,324 shares of the company's stock valued at $2,662,000 after purchasing an additional 1,187 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC raised its holdings in Cable One by 3.7% during the third quarter. J.P. Morgan Private Wealth Advisors LLC now owns 1,754 shares of the company's stock worth $1,080,000 after buying an additional 62 shares during the last quarter. Finally, Heartland Advisors Inc. lifted its stake in shares of Cable One by 34.8% in the third quarter. Heartland Advisors Inc. now owns 18,932 shares of the company's stock valued at $11,655,000 after buying an additional 4,887 shares in the last quarter. 89.92% of the stock is owned by institutional investors.

Cable One Stock Performance

Shares of NYSE CABO traded down $7.92 during midday trading on Friday, reaching $387.44. The company's stock had a trading volume of 103,330 shares, compared to its average volume of 155,141. The stock has a market capitalization of $2.18 billion, a P/E ratio of 8.87 and a beta of 0.80. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.86 and a quick ratio of 1.86. The firm has a 50 day moving average price of $409.41 and a 200-day moving average price of $486.06. Cable One, Inc. has a 12-month low of $369.13 and a 12-month high of $749.00.

Cable One (NYSE:CABO - Get Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $8.11 earnings per share for the quarter, missing the consensus estimate of $10.78 by ($2.67). Cable One had a return on equity of 12.76% and a net margin of 15.50%. The business had revenue of $404.30 million during the quarter, compared to analysts' expectations of $408.79 million. During the same period in the prior year, the firm posted $9.62 EPS. The firm's revenue for the quarter was down 4.2% on a year-over-year basis. As a group, equities analysts predict that Cable One, Inc. will post 32.41 earnings per share for the current year.

Cable One Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Tuesday, May 28th will be issued a dividend of $2.95 per share. The ex-dividend date of this dividend is Friday, May 24th. This represents a $11.80 dividend on an annualized basis and a yield of 3.05%. Cable One's dividend payout ratio (DPR) is presently 27.02%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Moffett Nathanson upgraded shares of Cable One from a "neutral" rating to a "buy" rating and set a $615.00 target price on the stock in a report on Tuesday, March 5th. TD Cowen lowered their price objective on Cable One from $650.00 to $456.00 and set a "hold" rating for the company in a research note on Friday, May 3rd. Wells Fargo & Company dropped their target price on Cable One from $400.00 to $350.00 and set an "underweight" rating on the stock in a report on Friday, May 3rd. Finally, KeyCorp decreased their price target on Cable One from $900.00 to $881.00 and set an "overweight" rating for the company in a report on Thursday, April 4th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Cable One presently has an average rating of "Hold" and a consensus target price of $590.83.

Insiders Place Their Bets

In other news, insider Christopher D. Boone sold 204 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $460.00, for a total transaction of $93,840.00. Following the completion of the transaction, the insider now directly owns 1,854 shares of the company's stock, valued at approximately $852,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.70% of the company's stock.

Cable One Company Profile

Cable One, Inc, together with its subsidiaries, provides data, video, and voice services in the United States. The company offers residential data services, a service to enhance Wi-Fi signal throughout the home. It also provides various residential video services from basic video service to digital services with access to hundreds of channels; and provides a cloud-based DVR feature that does not require the use of a set-top boxes.