Principal Financial Group Inc. Boosts Stake in IDT Co. (NYSE:IDT)

Principal Financial Group Inc. increased its holdings in shares of IDT Co. (NYSE:IDT) by 9.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,332 shares of the utilities provider’s stock after acquiring an additional 625 shares during the period. Principal Financial Group Inc.’s holdings in IDT were worth $263,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its stake in shares of IDT by 7.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 78,361 shares of the utilities provider’s stock worth $2,815,000 after purchasing an additional 5,454 shares during the period. CWM LLC grew its position in IDT by 53.2% during the second quarter. CWM LLC now owns 1,797 shares of the utilities provider’s stock worth $65,000 after buying an additional 624 shares during the period. Harbor Capital Advisors Inc. increased its holdings in IDT by 35.5% in the second quarter. Harbor Capital Advisors Inc. now owns 7,648 shares of the utilities provider’s stock valued at $275,000 after buying an additional 2,002 shares in the last quarter. Aristides Capital LLC acquired a new stake in shares of IDT during the 1st quarter valued at approximately $268,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of IDT by 5.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,647 shares of the utilities provider’s stock worth $479,000 after acquiring an additional 635 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised IDT from a “buy” rating to a “strong-buy” rating in a report on Friday, July 19th.

IDT Stock Up 2.4 %

NYSE:IDT opened at $37.70 on Friday. The company has a market capitalization of $955.32 million, a PE ratio of 26.93 and a beta of 0.79. IDT Co. has a 52-week low of $21.64 and a 52-week high of $41.58. The stock has a fifty day simple moving average of $36.98 and a 200-day simple moving average of $37.36.

Insider Buying and Selling at IDT

In related news, EVP Joyce J. Mason sold 7,570 shares of IDT stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $37.25, for a total transaction of $281,982.50. Following the completion of the transaction, the executive vice president now directly owns 12,996 shares in the company, valued at approximately $484,101. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Joyce J. Mason sold 7,570 shares of IDT stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $37.25, for a total transaction of $281,982.50. Following the completion of the sale, the executive vice president now owns 12,996 shares in the company, valued at approximately $484,101. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eric F. Cosentino sold 800 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $37.24, for a total transaction of $29,792.00. Following the completion of the transaction, the director now owns 551 shares in the company, valued at $20,519.24. The disclosure for this sale can be found here. In the last three months, insiders sold 8,870 shares of company stock worth $329,880. 15.00% of the stock is owned by corporate insiders.

IDT Profile

IDT Corporation provides communications and payment services in the United States, the United Kingdom, and internationally. It operates through Fintech, National Retail Solutions, net2phone, and Traditional Communications segments. The company operates point of sale, a terminal-based platform which provides independent retailers store management software, electronic payment processing, and other ancillary merchant services; and provides marketers with digital out-of-home advertising and transaction data.