Principal Financial Group Inc. Has $35,251,000 Position in Cullen/Frost Bankers Inc. (CFR)
Principal Financial Group Inc. reduced its position in shares of Cullen/Frost Bankers Inc. (NYSE:CFR) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 553,143 shares of the company’s stock after selling 1,028 shares during the period. Principal Financial Group Inc. owned approximately 0.89% of Cullen/Frost Bankers worth $35,251,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. Fisher Asset Management LLC raised its stake in Cullen/Frost Bankers by 2.1% in the first quarter. Fisher Asset Management LLC now owns 241,010 shares of the company’s stock worth $14,012,000 after buying an additional 5,041 shares during the last quarter. First Manhattan Co. raised its stake in Cullen/Frost Bankers by 56.7% in the first quarter. First Manhattan Co. now owns 64,153 shares of the company’s stock worth $3,535,000 after buying an additional 23,200 shares during the last quarter. Sanders Morris Harris Inc. bought a new stake in Cullen/Frost Bankers during the first quarter worth approximately $796,000. Commonwealth Equity Services Inc raised its stake in Cullen/Frost Bankers by 23.5% in the first quarter. Commonwealth Equity Services Inc now owns 17,562 shares of the company’s stock worth $968,000 after buying an additional 3,344 shares during the last quarter. Finally, Nisa Investment Advisors L.L.C. raised its stake in Cullen/Frost Bankers by 4.5% in the first quarter. Nisa Investment Advisors L.L.C. now owns 51,310 shares of the company’s stock worth $2,828,000 after buying an additional 2,200 shares during the last quarter. 84.81% of the stock is owned by institutional investors and hedge funds.
Shares of Cullen/Frost Bankers Inc. (NYSE:CFR) traded up 1.22% during mid-day trading on Wednesday, reaching $70.63. The company had a trading volume of 54,987 shares. Cullen/Frost Bankers Inc. has a one year low of $42.41 and a one year high of $73.99. The stock has a market capitalization of $4.39 billion, a P/E ratio of 16.69 and a beta of 1.13. The firm has a 50 day moving average of $70.49 and a 200-day moving average of $64.03.
Cullen/Frost Bankers (NYSE:CFR) last released its quarterly earnings results on Wednesday, July 27th. The company reported $1.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.06. Cullen/Frost Bankers had a return on equity of 9.67% and a net margin of 24.81%. During the same quarter last year, the firm earned $1.11 earnings per share. Analysts forecast that Cullen/Frost Bankers Inc. will post $4.56 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend was Monday, August 29th. Cullen/Frost Bankers’s dividend payout ratio is presently 50.82%.
A number of research analysts have issued reports on the company. Compass Point assumed coverage on Cullen/Frost Bankers in a research note on Tuesday, June 7th. They issued a “neutral” rating and a $65.00 price objective for the company. Evercore ISI upgraded Cullen/Frost Bankers from a “sell” rating to a “hold” rating and upped their price objective for the company from $52.00 to $67.00 in a research note on Thursday, June 9th. Zacks Investment Research downgraded Cullen/Frost Bankers from a “hold” rating to a “sell” rating in a research note on Tuesday, June 28th. Vetr downgraded Cullen/Frost Bankers from a “strong-buy” rating to a “buy” rating and set a $66.00 price objective for the company. in a research note on Tuesday, June 28th. Finally, JPMorgan Chase & Co. upped their price objective on Cullen/Frost Bankers from $55.00 to $58.00 and gave the company an “underweight” rating in a research note on Thursday, July 7th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. Cullen/Frost Bankers currently has a consensus rating of “Hold” and an average target price of $66.38.
In other Cullen/Frost Bankers news, Chairman Phillip D. Green sold 13,500 shares of the business’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $69.42, for a total transaction of $937,170.00. Following the completion of the sale, the chairman now owns 49,763 shares of the company’s stock, valued at $3,454,547.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Richard Kardys sold 25,500 shares of the business’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $69.54, for a total value of $1,773,270.00. Following the sale, the insider now directly owns 128,078 shares of the company’s stock, valued at approximately $8,906,544.12. The disclosure for this sale can be found here. Company insiders own 8.03% of the company’s stock.
Cullen/Frost Bankers Company Profile
Cullen/Frost Bankers, Inc is a financial holding and bank holding company. The Company, through its subsidiaries, offers commercial and consumer banking services, as well as trust and investment management, insurance, brokerage, mutual funds, leasing, treasury management, capital markets advisory and item processing services.
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