State Board of Administration of Florida Retirement System increased its position in shares of KAR Auction Services, Inc (NYSE:KAR) by 3.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 118,270 shares of the specialty retailer’s stock after buying an additional 4,360 shares during the period. State Board of Administration of Florida Retirement System owned 0.09% of KAR Auction Services worth $5,646,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of KAR Auction Services by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 11,344,446 shares of the specialty retailer’s stock worth $476,126,000 after buying an additional 57,704 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of KAR Auction Services by 18.6% during the 2nd quarter. Principal Financial Group Inc. now owns 5,867,365 shares of the specialty retailer’s stock worth $246,255,000 after buying an additional 918,735 shares during the period. BlackRock Inc. boosted its holdings in shares of KAR Auction Services by 1.9% during the 2nd quarter. BlackRock Inc. now owns 5,726,037 shares of the specialty retailer’s stock worth $240,320,000 after buying an additional 107,601 shares during the period. Bessemer Group Inc. boosted its holdings in shares of KAR Auction Services by 43.0% during the 2nd quarter. Bessemer Group Inc. now owns 3,115,698 shares of the specialty retailer’s stock worth $130,767,000 after buying an additional 937,368 shares during the period. Finally, Schroder Investment Management Group boosted its holdings in shares of KAR Auction Services by 5.0% during the 2nd quarter. Schroder Investment Management Group now owns 2,730,979 shares of the specialty retailer’s stock worth $114,045,000 after buying an additional 130,936 shares during the period.

Several research firms recently issued reports on KAR. Zacks Investment Research raised shares of KAR Auction Services from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Wednesday, November 8th. Gabelli downgraded shares of KAR Auction Services from a “buy” rating to a “hold” rating and set a $53.00 price objective for the company. in a report on Thursday, November 2nd. J P Morgan Chase & Co upped their price objective on shares of KAR Auction Services from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, October 30th. Jefferies Group LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of KAR Auction Services in a report on Tuesday, September 12th. Finally, Stephens downgraded shares of KAR Auction Services from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $51.00 to $48.00 in a report on Thursday, September 7th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $52.20.

Shares of KAR Auction Services, Inc (NYSE:KAR) opened at $48.25 on Tuesday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. KAR Auction Services, Inc has a 1-year low of $39.53 and a 1-year high of $49.38. The firm has a market cap of $6,559.00, a price-to-earnings ratio of 21.17, a price-to-earnings-growth ratio of 1.52 and a beta of 1.08.

KAR Auction Services (NYSE:KAR) last issued its quarterly earnings results on Tuesday, October 31st. The specialty retailer reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. KAR Auction Services had a net margin of 6.94% and a return on equity of 22.37%. The firm had revenue of $843.00 million during the quarter, compared to the consensus estimate of $846.42 million. During the same period in the prior year, the firm earned $0.50 EPS. The business’s revenue was up 6.8% on a year-over-year basis. equities research analysts predict that KAR Auction Services, Inc will post 2.37 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Wednesday, December 20th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, December 19th. This is an increase from KAR Auction Services’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 2.90%. KAR Auction Services’s dividend payout ratio is 75.29%.

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About KAR Auction Services

KAR Auction Services, Inc is a provider of whole car auction services in North America, and salvage auction services in North America and the United Kingdom. The Company operates through three segments: ADESA, Inc (ADESA Auctions or ADESA), Insurance Auto Auctions, Inc (IAA) and Automotive Finance Corporation (AFC).

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Institutional Ownership by Quarter for KAR Auction Services (NYSE:KAR)

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