Great West Life Assurance Co. Can continued to hold its position in shares of Time Inc. (NYSE:TIME) during the second quarter, Holdings Channel reports. The institutional investor owned 10,601 shares of the company’s stock at the end of the second quarter. Great West Life Assurance Co. Can’s holdings in Time were worth $163,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Fairpointe Capital LLC raised its position in shares of Time by 7.5% in the first quarter. Fairpointe Capital LLC now owns 9,704,197 shares of the company’s stock valued at $149,833,000 after buying an additional 673,887 shares during the last quarter. Norges Bank purchased a new stake in Time during the fourth quarter valued at $37,570,000. Emerald Acquisition Ltd. purchased a new stake in Time during the second quarter valued at $20,028,000. Renaissance Technologies LLC purchased a new stake in Time during the first quarter valued at $18,654,000. Finally, IBIS Capital Partners LLP increased its stake in Time by 52.8% in the first quarter. IBIS Capital Partners LLP now owns 793,757 shares of the company’s stock valued at $12,256,000 after buying an additional 274,359 shares during the period. Institutional investors own 93.69% of the company’s stock.
Time Inc. (NYSE:TIME) traded down 0.75% during midday trading on Tuesday, hitting $14.54. The company had a trading volume of 540,995 shares. The firm’s market capitalization is $1.46 billion. The firm’s 50 day moving average is $14.43 and its 200-day moving average is $15.30. Time Inc. has a 52 week low of $12.23 and a 52 week high of $20.01.
Time (NYSE:TIME) last posted its earnings results on Thursday, August 4th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.07. Time had a negative net margin of 28.56% and a positive return on equity of 6.36%. The business earned $769 million during the quarter, compared to the consensus estimate of $782.49 million. During the same quarter in the previous year, the firm posted $0.27 EPS. The firm’s revenue was down .5% on a year-over-year basis. On average, equities research analysts expect that Time Inc. will post $1.24 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 5.23%. The ex-dividend date was Monday, August 29th. Time’s dividend payout ratio (DPR) is presently -9.42%.
Several research firms recently weighed in on TIME. Citigroup Inc. cut their price objective on Time from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, August 9th. Zacks Investment Research downgraded Time from a “hold” rating to a “sell” rating in a report on Tuesday, August 9th. Morgan Stanley set a $15.00 price objective on Time and gave the company a “hold” rating in a report on Friday, August 5th. Finally, TheStreet raised Time from a “sell” rating to a “hold” rating in a report on Monday, June 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $17.50.
Time Inc is a media company. The Company’s brands include People, Sports Illustrated, InStyle, Time, Real Simple, Southern Living, Entertainment Weekly, Travel + Leisure, Cooking Light, Fortune and Food & Wine, as well as over 50 diverse titles in the United Kingdom, such as Decanter, Horse & Hound, and Wallpaper*.
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