Symantec Corporation (SYMC) Stake Increased by Stifel Financial Corp
Stifel Financial Corp grew its holdings in Symantec Corporation (NASDAQ:SYMC) by 58.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 239,422 shares of the technology company’s stock after buying an additional 88,525 shares during the period. Stifel Financial Corp’s holdings in Symantec were worth $7,853,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pinebridge Investments L.P. acquired a new stake in shares of Symantec in the third quarter valued at approximately $2,239,000. Commerzbank Aktiengesellschaft FI lifted its holdings in Symantec by 49.1% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 383,296 shares of the technology company’s stock worth $12,576,000 after purchasing an additional 126,258 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its holdings in Symantec by 26.5% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,025,638 shares of the technology company’s stock worth $33,651,000 after purchasing an additional 214,744 shares during the last quarter. KBC Group NV lifted its holdings in Symantec by 8.4% during the 3rd quarter. KBC Group NV now owns 456,579 shares of the technology company’s stock worth $14,980,000 after purchasing an additional 35,550 shares during the last quarter. Finally, MUFG Americas Holdings Corp acquired a new stake in Symantec during the 3rd quarter worth approximately $248,000. 95.02% of the stock is owned by institutional investors.
In other news, Director Anita M. Sands sold 2,000 shares of Symantec stock in a transaction on Monday, September 18th. The stock was sold at an average price of $33.51, for a total value of $67,020.00. Following the transaction, the director now owns 37,386 shares in the company, valued at approximately $1,252,804.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Nicholas R. Noviello sold 375,000 shares of Symantec stock in a transaction on Monday, November 6th. The shares were sold at an average price of $29.38, for a total value of $11,017,500.00. Following the completion of the transaction, the chief financial officer now owns 565,319 shares in the company, valued at approximately $16,609,072.22. The disclosure for this sale can be found here. Insiders sold a total of 447,225 shares of company stock valued at $13,081,030 over the last ninety days. Insiders own 1.30% of the company’s stock.
Symantec Corporation (SYMC) opened at $28.63 on Thursday. The firm has a market capitalization of $18,115.88, a price-to-earnings ratio of 46.38, a price-to-earnings-growth ratio of 2.95 and a beta of 1.08. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.72. Symantec Corporation has a fifty-two week low of $23.77 and a fifty-two week high of $34.20.
Symantec (NASDAQ:SYMC) last announced its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.14. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Symantec had a positive return on equity of 12.33% and a negative net margin of 5.29%. The company’s quarterly revenue was up 25.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.30 EPS. equities research analysts anticipate that Symantec Corporation will post 1.05 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 13th. Shareholders of record on Monday, November 20th were issued a $0.075 dividend. The ex-dividend date of this dividend was Friday, November 17th. This represents a $0.30 annualized dividend and a yield of 1.05%. Symantec’s dividend payout ratio is presently -75.00%.
SYMC has been the subject of several research reports. BidaskClub cut Symantec from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Credit Suisse Group initiated coverage on Symantec in a report on Tuesday, September 5th. They set an “outperform” rating and a $36.00 price target for the company. Moffett Nathanson initiated coverage on Symantec in a report on Wednesday, September 6th. They set a “neutral” rating and a $33.00 price target for the company. Robert W. Baird reissued a “hold” rating and set a $32.00 price target on shares of Symantec in a report on Friday, September 8th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $40.00 price target on shares of Symantec in a report on Tuesday, September 12th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $32.39.
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Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection, cyber security services and Website security. Under threat protection, it offers Advanced Threat Protection, Endpoint Protection, Endpoint Protection Cloud, IT Management Suite, Email Security.Cloud, Data Center Security and Cloud Workload Protection products.
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