Principal Financial Group Inc. Trims Position in IDT Co. (NYSE:IDT)

Principal Financial Group Inc. trimmed its stake in IDT Co. (NYSE:IDT) by 23.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,620 shares of the utilities provider’s stock after selling 1,712 shares during the period. Principal Financial Group Inc.’s holdings in IDT were worth $215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. New York State Teachers Retirement System purchased a new stake in shares of IDT in the third quarter valued at approximately $54,000. CWM LLC lifted its holdings in shares of IDT by 53.2% in the 2nd 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. Point72 Asset Management L.P. grew its position in shares of IDT by 176.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 3,600 shares of the utilities provider’s stock worth $129,000 after buying an additional 2,300 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of IDT during the second quarter valued at $203,000. Finally, SG Americas Securities LLC bought a new stake in shares of IDT in the third quarter valued at about $265,000. 59.34% of the stock is currently owned by institutional investors.

IDT Price Performance

Shares of IDT stock opened at $51.17 on Tuesday. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 20.15 and a beta of 0.77. The firm’s 50-day moving average is $45.13 and its two-hundred day moving average is $40.12. IDT Co. has a 1 year low of $27.09 and a 1 year high of $52.35.

IDT (NYSE:IDT) last released its quarterly earnings data on Tuesday, October 8th. The utilities provider reported $0.51 earnings per share (EPS) for the quarter. The firm had revenue of $308.83 million for the quarter. IDT had a net margin of 5.35% and a return on equity of 19.44%.

IDT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend was Monday, September 30th. IDT’s payout ratio is 7.87%.

Insider Buying and Selling

In related news, CFO Marcelo Fischer sold 600 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $48.57, for a total transaction of $29,142.00. Following the completion of the sale, the chief financial officer now owns 37,573 shares of the company’s stock, valued at $1,824,920.61. This represents a 1.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Bill Pereira sold 29,175 shares of IDT stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $47.24, for a total transaction of $1,378,227.00. Following the completion of the transaction, the chief operating officer now directly owns 40,000 shares in the company, valued at $1,889,600. This represents a 42.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,582 shares of company stock worth $1,632,568 in the last three months. 25.32% of the stock is owned by 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.