Legal & General Group Plc Sells 4,282 Shares of Korn Ferry (NYSE:KFY)

Legal & General Group Plc lessened its stake in Korn Ferry (NYSE:KFY) by 2.8% in the 4th quarter, HoldingsChannel reports. The fund owned 149,136 shares of the business services provider’s stock after selling 4,282 shares during the quarter. Legal & General Group Plc’s holdings in Korn Ferry were worth $10,059,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Wellington Management Group LLP acquired a new stake in shares of Korn Ferry in the fourth quarter valued at approximately $51,454,000. Norges Bank bought a new position in Korn Ferry in the 4th quarter valued at $42,360,000. JPMorgan Chase & Co. increased its stake in shares of Korn Ferry by 193.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 425,968 shares of the business services provider’s stock valued at $32,050,000 after buying an additional 281,024 shares during the period. Thrivent Financial for Lutherans raised its position in shares of Korn Ferry by 19.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,133,548 shares of the business services provider’s stock worth $76,458,000 after acquiring an additional 184,170 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Korn Ferry during the fourth quarter worth $10,727,000. 98.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Truist Financial lowered their price objective on Korn Ferry from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday.

Korn Ferry Price Performance

KFY opened at $60.70 on Friday. The company has a fifty day moving average price of $65.44 and a two-hundred day moving average price of $69.48. The firm has a market capitalization of $3.13 billion, a PE ratio of 12.97 and a beta of 1.40. Korn Ferry has a 52 week low of $59.44 and a 52 week high of $80.64. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.07 and a current ratio of 2.07.

Korn Ferry (NYSE:KFY) last announced its quarterly earnings data on Tuesday, March 11th. The business services provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.06. Korn Ferry had a return on equity of 14.27% and a net margin of 9.03%. The business had revenue of $676.50 million during the quarter, compared to analysts’ expectations of $650.45 million. During the same period in the previous year, the firm earned $1.07 earnings per share. The firm’s quarterly revenue was down .1% compared to the same quarter last year. As a group, analysts anticipate that Korn Ferry will post 4.75 earnings per share for the current year.

Korn Ferry Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Thursday, March 27th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.16%. This is an increase from Korn Ferry’s previous quarterly dividend of $0.37. The ex-dividend date was Thursday, March 27th. Korn Ferry’s dividend payout ratio (DPR) is currently 41.29%.

Korn Ferry Profile

Korn Ferry, together with its subsidiaries, provides organizational consulting services worldwide. It operates through four segments: Consulting, Digital, Executive Search, and Recruitment Process Outsourcing (RPO) & Professional Search. The company provides executive search services to recruit board level, chief executive, other senior executive, and general management talent of organizations.