Principal Financial Group Inc. Cuts Stock Position in OUTFRONT Media Inc. $OUT

Principal Financial Group Inc. trimmed its holdings in shares of OUTFRONT Media Inc. (NYSE:OUT) by 6.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 883,381 shares of the financial services provider’s stock after selling 58,058 shares during the quarter. Principal Financial Group Inc. owned approximately 0.50% of OUTFRONT Media worth $23,410,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in OUT. Burney Co. acquired a new stake in OUTFRONT Media during the 4th quarter worth $735,000. BTC Capital Management Inc. acquired a new stake in shares of OUTFRONT Media in the fourth quarter valued at about $3,625,000. Pensionfund PDN purchased a new position in shares of OUTFRONT Media in the fourth quarter worth about $1,027,000. Vanguard Group Inc. lifted its stake in shares of OUTFRONT Media by 5.3% in the fourth quarter. Vanguard Group Inc. now owns 22,654,899 shares of the financial services provider’s stock worth $545,983,000 after buying an additional 1,131,954 shares in the last quarter. Finally, Gabelli Funds LLC boosted its position in OUTFRONT Media by 30.3% during the fourth quarter. Gabelli Funds LLC now owns 333,440 shares of the financial services provider’s stock worth $8,036,000 after acquiring an additional 77,545 shares during the last quarter.

OUTFRONT Media Price Performance

OUT stock opened at $32.66 on Tuesday. OUTFRONT Media Inc. has a 52-week low of $16.64 and a 52-week high of $34.96. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 3.90. The stock has a market cap of $5.75 billion, a price-to-earnings ratio of 31.10, a price-to-earnings-growth ratio of 1.57 and a beta of 1.48. The business has a fifty day moving average of $32.24 and a two-hundred day moving average of $28.90.

OUTFRONT Media (NYSE:OUT) last announced 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. The business had revenue of $429.60 million for the quarter, compared to analyst estimates of $431.44 million. OUTFRONT Media had a return on equity of 30.36% and a net margin of 9.98%.The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.14 EPS. As a group, research analysts anticipate that OUTFRONT Media Inc. will post 2.12 earnings per share for the current 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 paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Friday, June 5th. OUTFRONT Media’s dividend payout ratio (DPR) is 114.29%.

Insider Activity

In other news, EVP Richard H. Sauer sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $32.08, for a total value of $160,400.00. Following the transaction, the executive vice president directly owned 56,947 shares in the company, valued at approximately $1,826,859.76. This represents a 8.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP James Michael Norton acquired 4,130 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average cost of $30.81 per share, with a total value of $127,245.30. Following the transaction, the executive vice president directly owned 4,130 shares in the company, valued at $127,245.30. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have sold 20,000 shares of company stock valued at $629,600. 0.47% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on OUT. Morgan Stanley set a $37.00 price objective on shares of OUTFRONT Media in a research note on Friday, May 8th. Wall Street Zen upgraded OUTFRONT Media from a “buy” rating to a “strong-buy” rating in a report on Saturday. Barrington Research set a $38.00 price target on OUTFRONT Media in a research report on Tuesday, May 12th. Finally, TD Cowen restated a “buy” rating and issued a $38.00 price target (up from $32.00) on shares of OUTFRONT Media in a research report on Tuesday, May 12th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $30.71.

OUTFRONT Media Company 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.