Economy

Principal Financial Group Inc. Cuts Holdings in Symantec Corporation (SYMC)

MoffettNathanson began new coverage on Symantec Corporation giving the company a "neutral" rating.

Symantec Co. (NASDAQ:SYMC) Director Suzanne M. Vautrinot sold 2,500 shares of the firm's stock in a transaction that occurred on Monday, April 3rd. $560,916 worth of Symantec Corporation (NASDAQ:SYMC) was sold by Divol Roxane. The EPS growth for the past five (5) years shows a value of -17.50%, whilst the EPS value for the next five (5) years shows a figure of 1.90%. The transaction change kept by insiders has seen a change of -37.52% in last six month period. British Columbia Investment Management Corp lifted its stake in shares of Symantec Corporation by 6.1% in the 1st quarter. Kwmg LLC now owns 56,378 shares of the technology company's stock worth $1,730,000 after buying an additional 21,367 shares in the last quarter. Chevy Chase Trust Holdings Inc. boosted its stake in Symantec by 2.2% in the first quarter.

The company shows its Return on Assets (ROA) value of -2.2%. Wetherby Asset Management Inc. now owns 8,885 shares of the technology company's stock valued at $251,000 after buying an additional 246 shares during the period. US Bancorp DE lifted its stake in shares of Symantec Corporation by 7.1% in the 1st quarter. The hedge fund run by Bart Baum held 150,000 shares of the prepackaged software company at the end of 2017Q2, valued at $4.24M, up from 100,000 at the end of the previous reported quarter.

COPYRIGHT VIOLATION NOTICE: "Principal Financial Group Inc".

Shares of Symantec Corporation (NASDAQ SYMC) opened at 32.74 on Wednesday. If you are reading this report on another site, it was illegally copied and republished in violation of USA & global copyright legislation. The shares were sold at an average price of $33.51, for a total value of $67,020.00. Following the sale, the executive vice president now owns 232,609 shares of the company's stock, valued at approximately $7,636,553.47. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Hot Stocks Point (HSP) makes sure to keep the information up to date and correct, but we didn't suggest or recommend buying or selling of any financial instrument, unless that information is subsequently confirmed on your own.

University of MI professor and noted insider trading researcher, Nejat Seyhun, discovered that when insiders bought shares of their own companies, the stocks outperformed the total market by 8.9% over the following year while when they sold shares, the stock underperformed 5.4% over the same period. The disclosure for this sale can be found here. New England Research And owns 12,200 shares for 0.26% of their portfolio. Institutional ownership is usually beneficial to a stock price initially, but very high institutional ownership has several shortcomings.

A number of research analysts have weighed in on SYMC shares. The consensus analyst target price is $33.28. RBC Capital Markets maintained the shares of SYMC in report on Sunday, July 30 with "Hold" rating. If the published price targets set by Symantec Corporation analysts have any power to influence the stock's share price, the highest price target set for SYMC is $40.

Some buy side analysts are also providing their Analysis on Symantec Corporation, where 2 analysts have rated the stock as Strong buy, 10 analysts have given a Buy signal, 16 said it's a HOLD, 1 reported it as Underperform and 0 analysts rated the stock as Sell. Symantec presently has an average rating of "Hold" and an average target price of $28.20.

Symantec Corporation (NASDAQ:SYMC) slipped over -0.51% at $32.85, after hitting low of $32.5 in an intra-day trade. ICCH's SI was 3,200 shares in September as released by FINRA. The firm's market capitalization is $20.12 billion.

Symantec Corporation has a beta of 1.49, offering the possibility of a higher rate of return, but also posing more risk.

Symantec Corporation (NASDAQ:SYMC) shares were trading lower by -0.51 percent ($-0.17) at $32.85 a piece in Monday's session. The company reported the earnings of $0.33/Share in the last quarter where the estimated EPS by analysts was $0.31/share. Its revenue totaled $1.2 billion up 2.43% from the previous quarter.

Symantec Corporation (NASDAQ:SYMC) gross margin percentage stands at 77.7% while its operating margin for the past trailing twelve month is -5.8 percent and its overall profit margin (ttm) is -8.7 Percent. The business's quarterly revenue was up 38.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.29 earnings per share. On average, equities research analysts expect that Symantec Corporation will post $1.81 EPS for the current fiscal year. Stockholders of record on Monday, February 20th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.91%. On Thursday, August 3 the stock rating was maintained by Barclays Capital with "Overweight".



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