OUTFRONT Media Inc. $OUT Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its position in shares of OUTFRONT Media Inc. (NYSE:OUT) by 6.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 883,381 shares of the financial services provider’s stock after selling 58,058 shares during the quarter. Principal Financial Group Inc.’s holdings in OUTFRONT Media were worth $23,410,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of OUT. Teachers Retirement System of The State of Kentucky increased its stake in OUTFRONT Media by 199.5% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 109,420 shares of the financial services provider’s stock worth $2,900,000 after purchasing an additional 72,891 shares during the period. Diversify Wealth Management LLC purchased a new position in shares of OUTFRONT Media in the first quarter valued at approximately $1,802,000. Barnett & Company Inc. boosted its stake in shares of OUTFRONT Media by 46.8% in the first quarter. Barnett & Company Inc. now owns 97,300 shares of the financial services provider’s stock valued at $2,578,000 after purchasing an additional 31,000 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of OUTFRONT Media in the first quarter valued at approximately $344,000. Finally, Resona Asset Management Co. Ltd. grew its holdings in shares of OUTFRONT Media by 6.3% in the first quarter. Resona Asset Management Co. Ltd. now owns 64,544 shares of the financial services provider’s stock valued at $1,661,000 after purchasing an additional 3,843 shares in the last quarter.

OUTFRONT Media Stock Down 1.7%

Shares of NYSE:OUT opened at $32.66 on Tuesday. The company has a market capitalization of $5.75 billion, a PE ratio of 31.10, a P/E/G ratio of 1.57 and a beta of 1.48. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 3.90. OUTFRONT Media Inc. has a twelve month low of $16.64 and a twelve month high of $34.96. The firm has a 50 day simple moving average of $32.24 and a 200-day simple moving average of $28.90.

OUTFRONT Media (NYSE:OUT) last posted its earnings results on Thursday, May 7th. The financial services provider reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.06. OUTFRONT Media had a net margin of 9.98% and a return on equity of 30.36%. The firm had revenue of $429.60 million for the quarter, compared to the consensus estimate of $431.44 million. During the same period last year, the firm posted $0.14 EPS. The company’s revenue was up 10.0% on a year-over-year basis. On average, equities analysts predict that OUTFRONT Media Inc. will post 2.12 EPS for the current fiscal year.

OUTFRONT Media Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.20 annualized dividend and a dividend yield of 3.7%. OUTFRONT Media’s dividend payout ratio (DPR) is presently 114.29%.

Insider Activity

In other news, EVP Richard H. Sauer sold 5,000 shares of OUTFRONT Media stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $32.08, for a total transaction of $160,400.00. Following the sale, the executive vice president owned 56,947 shares in the company, valued at approximately $1,826,859.76. The trade was a 8.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James Michael Norton bought 4,130 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were purchased at an average price of $30.81 per share, for a total transaction of $127,245.30. Following the transaction, the executive vice president directly owned 4,130 shares of the company’s stock, valued at approximately $127,245.30. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have sold 20,000 shares of company stock worth $629,600. Corporate insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on OUT. Morgan Stanley set a $37.00 target price on shares of OUTFRONT Media in a report on Friday, May 8th. Wall Street Zen upgraded shares of OUTFRONT Media from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Barrington Research set a $38.00 price objective on OUTFRONT Media in a research report on Tuesday, May 12th. Finally, TD Cowen reiterated a “buy” rating and issued a $38.00 price objective (up from $32.00) on shares of OUTFRONT Media in a research note on Tuesday, May 12th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $30.71.

OUTFRONT Media Company Profile

OUTFRONT Media Inc is a leading out-of-home (OOH) advertising company offering a broad range of billboard, transit and digital display solutions across major urban markets in the United States and Canada. Its portfolio encompasses traditional static billboards, high-resolution digital signage, transit media on buses, trains and taxis, as well as street furniture placements such as bus shelters, kiosks and urban panels. The company partners with brand marketers to deliver high-impact campaigns that engage consumers outside the home environment.

Through an extensive network of assets in key metropolitan areas, OUTFRONT provides advertisers with premium visibility along highways, city streets and transit corridors.