Principal Financial Group Inc. Reduces Position in Equinix, Inc. (EQIX)
Principal Financial Group Inc. decreased its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,892,423 shares of the financial services provider’s stock after selling 16,864 shares during the period. Equinix makes up approximately 0.8% of Principal Financial Group Inc.’s holdings, making the stock its 6th largest position. Principal Financial Group Inc. owned about 2.43% of Equinix worth $812,154,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Tudor Investment Corp ET AL purchased a new position in Equinix during the first quarter worth about $3,723,000. Arxis Securities LLC purchased a new position in Equinix during the first quarter worth about $227,000. Commerzbank Aktiengesellschaft FI increased its position in Equinix by 473.7% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 5,909 shares of the financial services provider’s stock worth $2,366,000 after buying an additional 4,879 shares during the period. Alliancebernstein L.P. increased its position in Equinix by 4.3% in the first quarter. Alliancebernstein L.P. now owns 188,721 shares of the financial services provider’s stock worth $75,558,000 after buying an additional 7,859 shares during the period. Finally, Two Sigma Securities LLC purchased a new position in Equinix during the first quarter worth about $351,000. Institutional investors own 94.41% of the company’s stock.
Shares of Equinix, Inc. (EQIX) opened at 465.77 on Wednesday. Equinix, Inc. has a 52-week low of $314.55 and a 52-week high of $468.16.
Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, August 2nd. The financial services provider reported $4.59 EPS for the quarter, topping the Zacks’ consensus estimate of $3.41 by $1.18. Equinix had a return on equity of 5.51% and a net margin of 5.18%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Analysts forecast that Equinix, Inc. will post $3.89 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, August 23rd will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Monday, August 21st. Equinix’s dividend payout ratio (DPR) is currently 293.04%.
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EQIX has been the subject of a number of research reports. Royal Bank Of Canada reiterated a “buy” rating and issued a $470.00 price objective on shares of Equinix in a report on Sunday, July 9th. Canaccord Genuity increased their target price on Equinix from $465.00 to $525.00 and gave the stock a “buy” rating in a research note on Thursday, May 11th. BidaskClub cut Equinix from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 30th. Instinet reissued a “buy” rating and issued a $490.00 target price on shares of Equinix in a research note on Thursday, May 25th. Finally, Nomura started coverage on Equinix in a research note on Thursday, May 25th. They issued a “buy” rating and a $490.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Equinix presently has a consensus rating of “Buy” and an average target price of $464.78.
In other news, CFO Keith D. Taylor sold 1,000 shares of Equinix stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $464.57, for a total transaction of $464,570.00. Following the sale, the chief financial officer now owns 32,096 shares in the company, valued at $14,910,838.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Karl Strohmeyer sold 250 shares of Equinix stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $464.96, for a total value of $116,240.00. The disclosure for this sale can be found here. Insiders have sold 22,393 shares of company stock worth $9,843,276 in the last quarter. Insiders own 0.58% of the company’s stock.
Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.
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