Principal Financial Group Inc. Has $10.28 Million Holdings in EVERTEC, Inc. (NYSE:EVTC)

Principal Financial Group Inc. decreased its position in shares of EVERTEC, Inc. (NYSE:EVTC) by 13.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 303,182 shares of the business services provider’s stock after selling 47,667 shares during the period. Principal Financial Group Inc. owned about 0.47% of EVERTEC worth $10,275,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Bank of Montreal Can lifted its position in EVERTEC by 1.1% during the 2nd quarter. Bank of Montreal Can now owns 35,084 shares of the business services provider’s stock worth $1,191,000 after buying an additional 381 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of EVERTEC by 1.3% during the second quarter. Louisiana State Employees Retirement System now owns 32,400 shares of the business services provider’s stock worth $1,077,000 after purchasing an additional 400 shares in the last quarter. nVerses Capital LLC grew its stake in shares of EVERTEC by 12.5% during the third quarter. nVerses Capital LLC now owns 3,600 shares of the business services provider’s stock valued at $122,000 after purchasing an additional 400 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of EVERTEC by 3.2% in the second quarter. Arizona State Retirement System now owns 18,323 shares of the business services provider’s stock valued at $609,000 after purchasing an additional 561 shares in the last quarter. Finally, Blair William & Co. IL raised its position in EVERTEC by 2.2% in the 2nd quarter. Blair William & Co. IL now owns 31,918 shares of the business services provider’s stock worth $1,061,000 after purchasing an additional 679 shares during the last quarter. Institutional investors own 96.80% of the company’s stock.

Insider Transactions at EVERTEC

In related news, EVP Miguel Vizcarrondo sold 40,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $34.11, for a total transaction of $1,364,400.00. Following the completion of the transaction, the executive vice president now directly owns 129,928 shares of the company’s stock, valued at approximately $4,431,844.08. This represents a 23.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.83% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Susquehanna cut EVERTEC from a “neutral” rating to a “negative” rating and dropped their price objective for the stock from $38.00 to $28.00 in a report on Thursday, September 5th.

EVERTEC Stock Up 0.6 %

Shares of EVERTEC stock opened at $34.86 on Tuesday. EVERTEC, Inc. has a 1 year low of $28.76 and a 1 year high of $42.21. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.97 and a quick ratio of 1.82. The company has a market capitalization of $2.22 billion, a P/E ratio of 27.25, a price-to-earnings-growth ratio of 1.58 and a beta of 1.15. The business has a 50-day moving average of $33.49 and a two-hundred day moving average of $33.87.

EVERTEC (NYSE:EVTC) last issued its quarterly earnings data on Wednesday, November 6th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.13. The company had revenue of $211.80 million during the quarter, compared to the consensus estimate of $211.51 million. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. The firm’s revenue was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.72 earnings per share. As a group, equities analysts predict that EVERTEC, Inc. will post 2.55 EPS for the current year.

EVERTEC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, October 28th will be issued a $0.05 dividend. The ex-dividend date is Monday, October 28th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.57%. EVERTEC’s dividend payout ratio (DPR) is presently 15.63%.

EVERTEC Profile

EVERTEC, Inc engages in transaction processing business and financial technology in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean; Latin America Payments and Solutions; Merchant Acquiring; and Business Solutions. It provides merchant acquiring services, which enable point of sales and e-commerce merchants to accept and process electronic methods of payment, such as debit, credit, prepaid, and electronic benefit transfer (EBT) cards.