In a recent filing with the Securities and Exchange Commission, Bank of America Corp DE disclosed that it had increased its stake in Dun & Bradstreet Holdings, Inc. by 109.7% in the fourth quarter of 2023. The business services provider’s stock has long been considered an attractive investment due to its potential for growth in an increasingly data-driven economy. Bank of America Corp DE now owns approximately 0.70% of Dun & Bradstreet, valued at $37,627,000 at the end of the most recent reporting period.
The bullish outlook on Dun & Bradstreet is supported by the company’s recently announced quarterly dividend of $0.05 per share. Investors who owned shares as of June 1st will receive the payout on June 15th, representing an annualized dividend yield of 1.88%. However, it is worth noting that Dun & Bradstreet’s dividend payout ratio (DPR) is currently -2,000.00%, reflecting a unique financial situation.
Several analysts have commented on Dun & Bradstreet’s prospects in recent months. StockNews.com initiated coverage on the company with a “hold” rating, while Raymond James lowered their price target but maintained an “outperform” rating. Needham & Company LLC issued a “buy” recommendation with a $18.00 price target while Deutsche Bank Aktiengesellschaft raised their rating from “hold” to “buy” and upped their price objective from $15.00 to $17.00.
Overall sentiment among analysts is optimistic but cautious: Four have rated the stock as “hold,” while seven see it as a “buy.” According to data from Bloomberg, Dun & Bradstreet currently has an average rating of “Moderate Buy,” with an average target price of $15.75.
Investors seeking exposure to the rapidly growing data industry may find Dun & Bradstreet Holdings Inc.’s strong financials, dividend payout and bullish analyst outlook attractive and worth further consideration.
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Dun & Bradstreet sees changes in shareholder makeup as institutional investors show confidence
Dun & Bradstreet (NYSE:DNB) is a business services provider that has recently seen changes in its shareholder makeup. Advisor Group Holdings Inc. grew its stake in DNB by 287.3% during the 1st quarter of 2023, while JPMorgan Chase & Co. increased theirs by 42.8%. US Bancorp DE and Private Advisor Group LLC both purchased new positions in the company, and PNC Financial Services Group Inc. lifted its holdings in DNB by a staggering 5,483.1%.
It’s worth noting that 85.36% of the stock is currently owned by institutional investors, indicating a high degree of confidence in the company among larger financial organizations.
In terms of insider activity, CFO Bryan T. Hipsher acquired 4,000 shares of DNB stock on May 24th at an average cost of $9.88 per share, bringing his total holdings to 29,000 shares worth approximately $286,520. Meanwhile, Chairman William P. Foley II sold over a million shares on May 10th for a total value of $13,839,455.68.
Despite these recent developments, DNB maintains a dividend payout ratio (DPR) of -2,000%, though it did declare a quarterly dividend to be paid on June 15th to shareholders of record as of June 1st, with a yield of 1.88%.
The company’s stock opened at $10.62 on June 9th and has fluctuated between $9.50 and $16.67 over the past year. In Q1 of this year, DNB reported earnings per share (EPS) of $0.19 and revenue of $540.60 million – beating analysts’ consensus estimates.
It remains to be seen how these recent developments will affect Dun & Bradstreet’s trajectory moving forward; however, with such high levels of institutional ownership and continued positive performance, it appears that DNB is poised for success in the years to come.