Amalgamated Bank Cuts Stock Holdings in Korn Ferry (NYSE:KFY)

Amalgamated Bank trimmed its position in shares of Korn Ferry (NYSE:KFY) by 1.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,238 shares of the business services provider’s stock after selling 240 shares during the period. Amalgamated Bank’s holdings in Korn Ferry were worth $1,028,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in shares of Korn Ferry by 193.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 425,968 shares of the business services provider’s stock worth $32,050,000 after purchasing an additional 281,024 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of Korn Ferry by 7.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 949,378 shares of the business services provider’s stock valued at $71,431,000 after acquiring an additional 62,385 shares in the last quarter. Vestcor Inc raised its position in Korn Ferry by 323.7% in the third quarter. Vestcor Inc now owns 18,487 shares of the business services provider’s stock valued at $1,391,000 after purchasing an additional 14,124 shares during the period. Seizert Capital Partners LLC lifted its stake in shares of Korn Ferry by 21.9% during the third quarter. Seizert Capital Partners LLC now owns 72,496 shares of the business services provider’s stock worth $5,455,000 after purchasing an additional 13,017 shares in the last quarter. Finally, Pacer Advisors Inc. acquired a new stake in shares of Korn Ferry in the third quarter valued at about $103,546,000. Institutional investors and hedge funds own 98.82% of the company’s stock.

Korn Ferry Stock Performance

Shares of KFY opened at $63.60 on Tuesday. The stock has a market capitalization of $3.28 billion, a PE ratio of 13.59 and a beta of 1.57. The business’s fifty day moving average price is $67.85 and its 200 day moving average price is $71.00. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.07 and a quick ratio of 2.07. Korn Ferry has a 12-month low of $59.78 and a 12-month high of $80.64.

Korn Ferry (NYSE:KFY) last issued its earnings results on Thursday, December 5th. The business services provider reported $1.21 EPS for the quarter, meeting analysts’ consensus estimates of $1.21. The company had revenue of $682.00 million during the quarter, compared to the consensus estimate of $675.35 million. Korn Ferry had a return on equity of 14.27% and a net margin of 9.03%. Korn Ferry’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.97 earnings per share. Equities research analysts forecast that Korn Ferry will post 4.75 EPS for the current year.

Korn Ferry Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.33%. The ex-dividend date was Friday, December 20th. Korn Ferry’s dividend payout ratio (DPR) is 31.62%.

Wall Street Analyst Weigh In

KFY has been the subject of several analyst reports. StockNews.com upgraded shares of Korn Ferry from a “hold” rating to a “buy” rating in a research note on Tuesday, December 17th. Truist Financial lifted their price objective on Korn Ferry from $78.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, December 6th.

Insider Transactions at Korn Ferry

In related news, CEO Mark Arian sold 20,000 shares of Korn Ferry stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $72.24, for a total transaction of $1,444,800.00. Following the transaction, the chief executive officer now directly owns 68,869 shares of the company’s stock, valued at $4,975,096.56. The trade was a 22.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.40% of the company’s stock.

About Korn Ferry

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.