Pzena Investment Management LLC Trims Stock Position in Korn Ferry (NYSE:KFY)

Pzena Investment Management LLC cut its stake in shares of Korn Ferry (NYSE:KFY) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,001,715 shares of the business services provider’s stock after selling 20,497 shares during the quarter. Pzena Investment Management LLC owned approximately 1.94% of Korn Ferry worth $67,566,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Korn Ferry by 13.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,933 shares of the business services provider’s stock valued at $872,000 after buying an additional 1,490 shares during the period. Amundi increased its holdings in Korn Ferry by 181.7% during the fourth quarter. Amundi now owns 29,984 shares of the business services provider’s stock valued at $1,983,000 after buying an additional 19,341 shares during the period. Raymond James Financial Inc. purchased a new position in Korn Ferry during the fourth quarter valued at approximately $10,727,000. Arizona State Retirement System increased its holdings in Korn Ferry by 1.2% during the fourth quarter. Arizona State Retirement System now owns 15,094 shares of the business services provider’s stock valued at $1,018,000 after buying an additional 176 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in Korn Ferry during the fourth quarter valued at approximately $685,000. 98.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Korn Ferry

In other news, CEO Mark Arian sold 20,000 shares of Korn Ferry stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $72.24, for a total transaction of $1,444,800.00. Following the completion of the sale, the chief executive officer now directly owns 68,869 shares in the company, valued at approximately $4,975,096.56. The trade was a 22.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.40% of the stock is owned by insiders.

Korn Ferry Price Performance

Shares of KFY opened at $62.42 on Tuesday. The company has a market cap of $3.22 billion, a price-to-earnings ratio of 13.34 and a beta of 1.57. Korn Ferry has a twelve month low of $59.78 and a twelve month high of $80.64. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.22. The company has a 50 day moving average of $67.53 and a two-hundred day moving average of $70.81.

Korn Ferry Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Thursday, March 27th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 3.08%. This is an increase from Korn Ferry’s previous quarterly dividend of $0.37. Korn Ferry’s dividend payout ratio (DPR) is 31.62%.

Analyst Ratings Changes

Several brokerages recently issued reports on KFY. StockNews.com raised shares of Korn Ferry from a “hold” rating to a “buy” rating in a report on Tuesday, December 17th. Truist Financial lifted their price objective on shares of Korn Ferry from $78.00 to $84.00 and gave the company a “buy” rating in a report on Friday, December 6th.

Korn Ferry Company Profile

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.