Russell Investments Group Ltd. Sells 5,895 Shares of IDT Co. (NYSE:IDT)

Russell Investments Group Ltd. reduced its position in shares of IDT Co. (NYSE:IDT) by 3.8% in the fourth quarter, HoldingsChannel reports. The firm owned 150,539 shares of the utilities provider’s stock after selling 5,895 shares during the quarter. Russell Investments Group Ltd.’s holdings in IDT were worth $7,154,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in IDT. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in IDT by 35.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,438 shares of the utilities provider’s stock worth $116,000 after acquiring an additional 632 shares during the period. Quantbot Technologies LP bought a new position in IDT in the 4th quarter worth $129,000. New Age Alpha Advisors LLC purchased a new position in IDT during the fourth quarter valued at $134,000. Hennion & Walsh Asset Management Inc. bought a new stake in IDT during the fourth quarter valued at about $200,000. Finally, Raymond James Financial Inc. purchased a new stake in IDT in the fourth quarter worth about $201,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

IDT Stock Performance

IDT stock opened at $48.79 on Friday. The company has a market capitalization of $1.23 billion, a PE ratio of 16.71 and a beta of 0.58. The company’s fifty day moving average price is $49.16 and its 200-day moving average price is $48.07. IDT Co. has a one year low of $33.84 and a one year high of $58.77.

IDT (NYSE:IDT) last issued its quarterly earnings data on Thursday, March 6th. The utilities provider reported $0.81 EPS for the quarter. The business had revenue of $303.35 million during the quarter. IDT had a net margin of 6.10% and a return on equity of 22.18%.

IDT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Monday, March 17th were given a $0.06 dividend. This is a positive change from IDT’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Monday, March 17th. IDT’s dividend payout ratio is 7.62%.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of IDT from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 18th.

Insider Buying and Selling at IDT

In other IDT news, CTO David Wartell sold 10,735 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $48.99, for a total value of $525,907.65. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 25.32% of the company’s stock.

IDT Profile

IDT Corporation provides communications and payment services in the United States, the United Kingdom, and internationally. It operates through Fintech, National Retail Solutions, net2phone, and Traditional Communications segments. The company operates point of sale, a terminal-based platform which provides independent retailers store management software, electronic payment processing, and other ancillary merchant services; and provides marketers with digital out-of-home advertising and transaction data.