Symantec Corp. (SYMC) Shares Sold by Principal Financial Group Inc.
Principal Financial Group Inc. decreased its stake in Symantec Corp. (NASDAQ:SYMC) by 26.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 905,570 shares of the company’s stock after selling 328,129 shares during the period. Principal Financial Group Inc. owned about 0.15% of Symantec Corp. worth $18,601,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of SYMC. Charter Trust Co. boosted its position in Symantec Corp. by 0.5% in the second quarter. Charter Trust Co. now owns 17,824 shares of the company’s stock valued at $366,000 after buying an additional 93 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of Symantec Corp. by 0.4% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 50,848 shares of the company’s stock worth $1,044,000 after buying an additional 183 shares during the period. Capstone Asset Management Co. raised its stake in shares of Symantec Corp. by 0.4% in the second quarter. Capstone Asset Management Co. now owns 52,031 shares of the company’s stock worth $1,069,000 after buying an additional 193 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Symantec Corp. by 1.9% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 22,870 shares of the company’s stock worth $470,000 after buying an additional 427 shares during the period. Finally, Shufro Rose & Co. LLC raised its stake in shares of Symantec Corp. by 0.8% in the first quarter. Shufro Rose & Co. LLC now owns 68,790 shares of the company’s stock worth $1,264,000 after buying an additional 550 shares during the period. Hedge funds and other institutional investors own 94.93% of the company’s stock.
Shares of Symantec Corp. (NASDAQ:SYMC) traded down 0.060% during mid-day trading on Monday, reaching $25.085. 857,776 shares of the company’s stock traded hands. The stock has a market cap of $15.44 billion, a PE ratio of 6.543 and a beta of 1.10. Symantec Corp. has a 12 month low of $16.14 and a 12 month high of $25.37. The firm has a 50 day moving average price of $24.32 and a 200-day moving average price of $20.22.
Symantec Corp. (NASDAQ:SYMC) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. Symantec Corp. had a net margin of 60.18% and a return on equity of 13.56%. The firm had revenue of $884 million for the quarter, compared to the consensus estimate of $876.96 million. During the same period in the prior year, the firm posted $0.40 earnings per share. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, analysts predict that Symantec Corp. will post $1.12 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 14th. Stockholders of record on Monday, August 22nd were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Thursday, August 18th. Symantec Corp.’s payout ratio is 7.79%.
A number of brokerages have issued reports on SYMC. Goldman Sachs Group Inc. reissued a “buy” rating and set a $26.00 target price on shares of Symantec Corp. in a research note on Monday, August 15th. Guggenheim began coverage on shares of Symantec Corp. in a research note on Wednesday, September 14th. They set a “buy” rating and a $30.00 target price for the company. Piper Jaffray Cos. reissued an “overweight” rating and set a $27.00 target price (up previously from $24.00) on shares of Symantec Corp. in a research note on Monday, August 8th. Raymond James Financial Inc. reaffirmed a “market perform” rating on shares of Symantec Corp. in a research note on Wednesday, June 15th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $20.00 price objective (up previously from $17.00) on shares of Symantec Corp. in a research note on Tuesday, August 2nd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $24.53.
In related news, Director Suzanne M. Vautrinot sold 3,750 shares of the firm’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $20.39, for a total value of $76,462.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Amy L. Cappellanti-Wolf sold 15,474 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $24.88, for a total transaction of $384,993.12. Following the completion of the sale, the senior vice president now directly owns 112,103 shares in the company, valued at $2,789,122.64. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by insiders.
Symantec Corp. Company Profile
Symantec Corporation provides security and information management solutions. The Company operates its business on a global civilian cyber intelligence threat network and tracks various threats across the Internet from mobile devices, endpoints, and servers across the world. It is developing solutions for cloud, threat protection, information protection and cyber security services.
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