The Manufacturers Life Insurance Company Has $223,000 Holdings in IDT Co. (NYSE:IDT)

The Manufacturers Life Insurance Company trimmed its holdings in IDT Co. (NYSE:IDT) by 4.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,852 shares of the utilities provider’s stock after selling 253 shares during the period. The Manufacturers Life Insurance Company’s holdings in IDT were worth $223,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC raised its holdings in IDT by 121.7% in the 3rd quarter. Cerity Partners LLC now owns 95,700 shares of the utilities provider’s stock valued at $3,653,000 after acquiring an additional 52,532 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of IDT by 2.7% during the second quarter. Renaissance Technologies LLC now owns 1,106,606 shares of the utilities provider’s stock worth $39,749,000 after buying an additional 29,100 shares in the last quarter. Marshall Wace LLP bought a new stake in IDT in the 2nd quarter valued at about $976,000. Americana Partners LLC acquired a new position in shares of IDT during the 2nd quarter worth approximately $898,000. Finally, Summit Global Investments bought a new position in shares of IDT during the third quarter worth approximately $637,000. 59.34% of the stock is owned by institutional investors.

Insider Transactions at IDT

In other news, CFO Marcelo Fischer sold 600 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $48.57, for a total value of $29,142.00. Following the sale, the chief financial officer now directly owns 37,573 shares of the company’s stock, valued at approximately $1,824,920.61. This represents a 1.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Nadine Shea sold 1,000 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $53.74, for a total value of $53,740.00. Following the sale, the executive vice president now owns 4,775 shares of the company’s stock, valued at approximately $256,608.50. The trade was a 17.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,582 shares of company stock worth $1,686,308. Insiders own 25.32% of the company’s stock.

IDT Stock Performance

NYSE:IDT opened at $49.50 on Tuesday. IDT Co. has a fifty-two week low of $32.08 and a fifty-two week high of $58.77. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 16.95 and a beta of 0.78. The stock has a fifty day moving average price of $49.06 and a 200-day moving average price of $41.33.

IDT (NYSE:IDT) last released its earnings results on Tuesday, October 8th. The utilities provider reported $0.51 earnings per share for the quarter. IDT had a return on equity of 22.18% and a net margin of 6.10%. The firm had revenue of $308.83 million during the quarter.

IDT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Monday, September 30th. IDT’s dividend payout ratio (DPR) is 6.85%.

About IDT

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.