Principal Financial Group Inc. Has $11.98 Million Stock Position in OUTFRONT Media Inc. (NYSE:OUT)

Principal Financial Group Inc. cut its holdings in shares of OUTFRONT Media Inc. (NYSE:OUT) by 9.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 651,513 shares of the financial services provider’s stock after selling 70,922 shares during the quarter. Principal Financial Group Inc. owned about 0.39% of OUTFRONT Media worth $11,975,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of OUT. Franklin Resources Inc. boosted its stake in OUTFRONT Media by 653.3% during the third quarter. Franklin Resources Inc. now owns 229,872 shares of the financial services provider’s stock worth $4,260,000 after buying an additional 199,356 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of OUTFRONT Media during the 3rd quarter worth about $318,000. Vestcor Inc boosted its position in shares of OUTFRONT Media by 846.4% during the 3rd quarter. Vestcor Inc now owns 113,572 shares of the financial services provider’s stock valued at $2,087,000 after acquiring an additional 101,572 shares in the last quarter. M&T Bank Corp bought a new stake in OUTFRONT Media in the third quarter valued at about $204,000. Finally, Barclays PLC raised its position in OUTFRONT Media by 43.0% in the third quarter. Barclays PLC now owns 501,439 shares of the financial services provider’s stock worth $9,218,000 after purchasing an additional 150,669 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages have weighed in on OUT. StockNews.com cut OUTFRONT Media from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Wolfe Research lowered shares of OUTFRONT Media from an “outperform” rating to a “peer perform” rating in a report on Thursday, October 24th. Barrington Research reissued an “outperform” rating and set a $21.00 price target on shares of OUTFRONT Media in a report on Wednesday, November 13th. Morgan Stanley boosted their price target on shares of OUTFRONT Media from $17.00 to $18.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company assumed coverage on shares of OUTFRONT Media in a report on Thursday, September 19th. They set an “overweight” rating and a $22.00 price objective for the company. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, OUTFRONT Media presently has a consensus rating of “Hold” and an average price target of $19.00.

OUTFRONT Media Stock Performance

Shares of OUT stock opened at $17.69 on Monday. The company has a fifty day moving average price of $18.52 and a two-hundred day moving average price of $16.99. OUTFRONT Media Inc. has a one year low of $12.27 and a one year high of $19.50. The stock has a market cap of $2.94 billion, a P/E ratio of 12.91, a P/E/G ratio of 1.20 and a beta of 1.96. The company has a debt-to-equity ratio of 4.00, a current ratio of 0.65 and a quick ratio of 0.65.

OUTFRONT Media (NYSE:OUT) last announced its quarterly earnings results on Tuesday, November 12th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.20). The business had revenue of $451.90 million for the quarter, compared to analyst estimates of $456.38 million. OUTFRONT Media had a net margin of 13.30% and a return on equity of 40.33%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.46 EPS. As a group, equities analysts predict that OUTFRONT Media Inc. will post 1.56 EPS for the current year.

OUTFRONT Media Cuts Dividend

The company also recently disclosed a special dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, November 15th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, November 15th. OUTFRONT Media’s dividend payout ratio is 87.59%.

OUTFRONT Media Company Profile

OUTFRONT leverages the power of technology, location, and creativity to connect brands with consumers outside of their homes through one of the largest and most diverse sets of billboard, transit, and mobile assets in North America. Through its technology platform, OUTFRONT will fundamentally change the ways advertisers engage audiences on-the-go.