Principal Financial Group Inc. lifted its position in shares of Focus Financial Partners Inc. (NASDAQ:FOCS – Get Rating) by 0.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,148,232 shares of the company’s stock after acquiring an additional 881 shares during the quarter. Principal Financial Group Inc.’s holdings in Focus Financial Partners were worth $68,572,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of FOCS. State Board of Administration of Florida Retirement System lifted its stake in shares of Focus Financial Partners by 2.3% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 8,737 shares of the company’s stock worth $458,000 after purchasing an additional 200 shares during the last quarter. Knights of Columbus Asset Advisors LLC raised its stake in Focus Financial Partners by 0.5% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 47,003 shares of the company’s stock valued at $2,462,000 after buying an additional 250 shares during the last quarter. Advisor Group Holdings Inc. raised its stake in Focus Financial Partners by 12.1% in the third quarter. Advisor Group Holdings Inc. now owns 2,353 shares of the company’s stock valued at $123,000 after buying an additional 254 shares during the last quarter. Cim LLC raised its stake in Focus Financial Partners by 7.1% in the fourth quarter. Cim LLC now owns 4,938 shares of the company’s stock valued at $237,000 after buying an additional 328 shares during the last quarter. Finally, Hancock Whitney Corp raised its stake in Focus Financial Partners by 8.8% in the fourth quarter. Hancock Whitney Corp now owns 4,972 shares of the company’s stock valued at $297,000 after buying an additional 402 shares during the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently issued reports on the company. Raymond James reduced their price objective on Focus Financial Partners from $66.00 to $60.00 and set an “outperform” rating for the company in a research note on Tuesday, April 5th. Truist Financial reduced their price objective on Focus Financial Partners from $78.00 to $65.00 in a research note on Friday. The Goldman Sachs Group reduced their price objective on Focus Financial Partners from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, March 31st. Finally, Zacks Investment Research cut Focus Financial Partners from a “hold” rating to a “sell” rating in a research note on Thursday, April 21st. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. Based on data from MarketBeat, Focus Financial Partners has a consensus rating of “Buy” and a consensus price target of $69.71.
Focus Financial Partners (NASDAQ:FOCS – Get Rating) last issued its quarterly earnings results on Thursday, May 5th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.07. Focus Financial Partners had a return on equity of 26.39% and a net margin of 2.02%. The firm had revenue of $536.57 million for the quarter, compared to analyst estimates of $515.65 million. During the same period in the previous year, the company posted $0.83 earnings per share. The business’s revenue was up 36.1% on a year-over-year basis. As a group, analysts expect that Focus Financial Partners Inc. will post 4.32 earnings per share for the current year.
Focus Financial Partners Profile (Get Rating)
Focus Financial Partners Inc provides wealth management services to primarily ultra-high and high net worth individuals, families, and business entities. Its wealth management services include investment advice, financial and tax planning, consulting, tax return preparation, family office services, and other services.
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