American Century Companies Inc. Invests $30.85 Million in Triumph Group, Inc. (NYSE:TGI)

American Century Companies Inc. purchased a new position in Triumph Group, Inc. (NYSE:TGI) during the 4th quarter, Holdings Channel reports. The fund purchased 1,652,975 shares of the aerospace company’s stock, valued at approximately $30,845,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Centiva Capital LP purchased a new position in shares of Triumph Group during the third quarter worth approximately $255,000. Cornerstone Wealth Management LLC grew its stake in Triumph Group by 3.8% in the fourth quarter. Cornerstone Wealth Management LLC now owns 15,964 shares of the aerospace company’s stock worth $298,000 after purchasing an additional 580 shares in the last quarter. Intech Investment Management LLC increased its holdings in Triumph Group by 61.2% during the 3rd quarter. Intech Investment Management LLC now owns 34,152 shares of the aerospace company’s stock worth $440,000 after purchasing an additional 12,965 shares during the period. The Manufacturers Life Insurance Company raised its position in Triumph Group by 7.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 37,864 shares of the aerospace company’s stock valued at $488,000 after purchasing an additional 2,524 shares in the last quarter. Finally, MetLife Investment Management LLC grew its position in shares of Triumph Group by 5.3% during the 3rd quarter. MetLife Investment Management LLC now owns 40,780 shares of the aerospace company’s stock worth $526,000 after buying an additional 2,043 shares in the last quarter. Institutional investors own 94.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on TGI shares. StockNews.com assumed coverage on Triumph Group in a report on Tuesday. They issued a “hold” rating for the company. TD Cowen raised shares of Triumph Group to a “hold” rating in a research report on Thursday, December 19th. Truist Financial boosted their price objective on shares of Triumph Group from $19.00 to $26.00 and gave the stock a “hold” rating in a research note on Tuesday, February 4th. Barclays lowered Triumph Group from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $21.00 to $26.00 in a report on Thursday, February 6th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $26.00 price target (up from $20.00) on shares of Triumph Group in a research report on Tuesday, February 4th. Two equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to MarketBeat, Triumph Group presently has an average rating of “Hold” and a consensus target price of $18.88.

Insiders Place Their Bets

In other news, CAO Jennifer H. Allen sold 35,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $25.32, for a total value of $886,200.00. Following the transaction, the chief accounting officer now directly owns 51,696 shares of the company’s stock, valued at approximately $1,308,942.72. This represents a 40.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.31% of the company’s stock.

Triumph Group Price Performance

Shares of TGI stock opened at $25.44 on Friday. The stock’s fifty day moving average price is $24.05 and its 200 day moving average price is $19.04. Triumph Group, Inc. has a 1-year low of $11.01 and a 1-year high of $25.52. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 3.53 and a beta of 2.53.

Triumph Group (NYSE:TGI) last posted its quarterly earnings data on Monday, February 10th. The aerospace company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.03. Triumph Group had a net margin of 45.08% and a negative return on equity of 55.18%. As a group, equities research analysts anticipate that Triumph Group, Inc. will post 0.68 earnings per share for the current year.

Triumph Group Company Profile

Triumph Group, Inc designs, engineers, manufactures, repairs, overhauls, and distributes aircraft, aircraft components, accessories, subassemblies, and systems worldwide. It operates in two segments, Triumph Systems & Support, and Triumph Interiors. The company offers aircraft and engine-mounted accessory drives, thermal control systems and components, cargo hooks, high lift actuations, cockpit control levers, hydraulic systems and components, control system valve bodies, landing gear actuation systems, electronic engine controls, landing gear components and assemblies, cyber protected process controllers, main engine gearbox assemblies, geared transmissions and drive train components, main fuel pumps, fuel-metering units, primary and secondary flight control systems, and vibration absorbers.