Principal Financial Group Inc. Has $15.06 Million Holdings in EVERTEC, Inc. (NYSE:EVTC)

Principal Financial Group Inc. lessened its holdings in EVERTEC, Inc. (NYSE:EVTCGet Rating) by 9.7% during the second quarter, HoldingsChannel reports. The fund owned 408,446 shares of the business services provider’s stock after selling 44,024 shares during the quarter. Principal Financial Group Inc.’s holdings in EVERTEC were worth $15,064,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. WINTON GROUP Ltd grew its position in EVERTEC by 21.5% in the 2nd quarter. WINTON GROUP Ltd now owns 43,796 shares of the business services provider’s stock worth $1,615,000 after purchasing an additional 7,739 shares in the last quarter. Lazard Asset Management LLC grew its position in EVERTEC by 138.4% in the 2nd quarter. Lazard Asset Management LLC now owns 18,199 shares of the business services provider’s stock worth $671,000 after purchasing an additional 10,565 shares in the last quarter. Shell Asset Management Co. grew its position in EVERTEC by 31.6% in the 2nd quarter. Shell Asset Management Co. now owns 10,598 shares of the business services provider’s stock worth $391,000 after purchasing an additional 2,544 shares in the last quarter. Clifford Capital Partners LLC bought a new stake in EVERTEC in the 2nd quarter worth about $9,813,000. Finally, Willis Investment Counsel grew its position in EVERTEC by 63.6% in the 2nd quarter. Willis Investment Counsel now owns 66,347 shares of the business services provider’s stock worth $2,447,000 after purchasing an additional 25,787 shares in the last quarter. Institutional investors and hedge funds own 98.84% of the company’s stock.

EVERTEC Stock Performance

NYSE EVTC opened at $32.95 on Friday. EVERTEC, Inc. has a 1 year low of $30.72 and a 1 year high of $51.06. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.22 and a quick ratio of 2.22. The stock has a market capitalization of $2.15 billion, a PE ratio of 9.10 and a beta of 0.99. The company’s 50 day simple moving average is $33.11 and its two-hundred day simple moving average is $35.13.

EVERTEC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Tuesday, November 1st will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Monday, October 31st. EVERTEC’s dividend payout ratio is presently 5.52%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on EVTC shares. TheStreet downgraded shares of EVERTEC from a “b-” rating to a “c+” rating in a research report on Monday, September 19th. Morgan Stanley reduced their target price on shares of EVERTEC from $31.00 to $29.00 and set an “underweight” rating for the company in a research report on Thursday, November 3rd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of EVERTEC from $43.00 to $33.00 in a research report on Thursday, November 3rd. Raymond James reduced their target price on shares of EVERTEC from $45.00 to $41.00 and set an “outperform” rating for the company in a research report on Thursday, November 3rd. Finally, StockNews.com initiated coverage on shares of EVERTEC in a report on Wednesday, October 12th. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, EVERTEC presently has a consensus rating of “Hold” and an average target price of $38.50.

EVERTEC Profile

(Get Rating)

EVERTEC, Inc engages in transaction processing business in Latin America and the Caribbean. The company operates through Payment Services – Puerto Rico & Caribbean; Payment Services – Latin America; Merchant Acquiring; Business Solutions, and Corporate and Other segments. It provides merchant acquiring services, which enable point of sales and e-commerce merchants to accept and process electronic methods of payment, such as debit, credit, prepaid, and electronic benefit transfer (EBT) cards.

Further Reading

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Institutional Ownership by Quarter for EVERTEC (NYSE:EVTC)

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