Principal Financial Group Inc. Has $10.72 Million Stake in EVERTEC, Inc. (NYSE:EVTC)

Principal Financial Group Inc. increased its position in EVERTEC, Inc. (NYSE:EVTC) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 310,524 shares of the business services provider’s stock after buying an additional 7,342 shares during the period. Principal Financial Group Inc. owned 0.49% of EVERTEC worth $10,722,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC boosted its stake in shares of EVERTEC by 36.6% during the 3rd quarter. FMR LLC now owns 9,114,244 shares of the business services provider’s stock worth $308,882,000 after acquiring an additional 2,440,680 shares in the last quarter. State Street Corp boosted its position in EVERTEC by 1.4% during the third quarter. State Street Corp now owns 2,494,349 shares of the business services provider’s stock worth $84,533,000 after purchasing an additional 34,410 shares during the period. River Road Asset Management LLC grew its holdings in EVERTEC by 0.3% during the third quarter. River Road Asset Management LLC now owns 1,966,626 shares of the business services provider’s stock valued at $66,649,000 after purchasing an additional 5,899 shares during the last quarter. Natixis Advisors LLC grew its holdings in EVERTEC by 9.9% during the third quarter. Natixis Advisors LLC now owns 582,608 shares of the business services provider’s stock valued at $19,745,000 after purchasing an additional 52,586 shares during the last quarter. Finally, DF Dent & Co. Inc. raised its position in shares of EVERTEC by 27.5% in the third quarter. DF Dent & Co. Inc. now owns 455,454 shares of the business services provider’s stock valued at $15,435,000 after purchasing an additional 98,341 shares during the period. Institutional investors own 96.80% of the company’s stock.

Insider Transactions at EVERTEC

In other EVERTEC news, CFO Joaquin A. Castrillo-Salgado sold 48,453 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $36.08, for a total value of $1,748,184.24. Following the sale, the chief financial officer now owns 54,998 shares of the company’s stock, valued at $1,984,327.84. The trade was a 46.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Daniel Brignardello sold 3,842 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $36.00, for a total transaction of $138,312.00. Following the transaction, the executive vice president now directly owns 32,481 shares of the company’s stock, valued at $1,169,316. The trade was a 10.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,308 shares of company stock worth $2,440,112. 0.83% of the stock is currently owned by company insiders.

EVERTEC Trading Down 0.5 %

Shares of EVERTEC stock opened at $37.37 on Friday. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 29.20, a PEG ratio of 1.43 and a beta of 1.15. EVERTEC, Inc. has a 1 year low of $28.76 and a 1 year high of $40.67. The company’s fifty day simple moving average is $33.36 and its 200-day simple moving average is $33.73. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 1.84.

EVERTEC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.20 annualized dividend and a dividend yield of 0.54%. EVERTEC’s payout ratio is 11.56%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Susquehanna upgraded shares of EVERTEC from a “negative” rating to a “neutral” rating and raised their target price for the company from $28.00 to $30.00 in a research note on Thursday. William Blair restated an “outperform” rating on shares of EVERTEC in a report on Thursday. Finally, Morgan Stanley upgraded EVERTEC from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $33.00 to $35.00 in a research note on Thursday, November 21st.

EVERTEC Company 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.