The Principal Financial Group Inc. Reduces Position in Juniper Networks Inc. (JNPR)

The Principal Financial Group Inc. Reduces Position in Juniper Networks Inc. (JNPR)

Principal Financial Group Inc. lowered its position in shares of Juniper Networks Inc. (NYSE:JNPR) by 58.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 540,346 shares of the network equipment provider’s stock after selling 751,872 shares during the period. Principal Financial Group Inc. owned approximately 0.14% of Juniper Networks worth $12,152,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Conning Inc. boosted its stake in Juniper Networks by 2.3% in the second quarter. Conning Inc. now owns 9,767 shares of the network equipment provider’s stock worth $220,000 after buying an additional 220 shares during the period. Loomis Sayles & Co. L P boosted its stake in Juniper Networks by 0.9% in the first quarter. Loomis Sayles & Co. L P now owns 27,484 shares of the network equipment provider’s stock worth $701,000 after buying an additional 240 shares during the period. Sumitomo Mitsui Asset Management Company LTD boosted its stake in Juniper Networks by 1.0% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 25,762 shares of the network equipment provider’s stock worth $579,000 after buying an additional 246 shares during the period. Oakbrook Investments LLC boosted its stake in Juniper Networks by 0.7% in the second quarter. Oakbrook Investments LLC now owns 37,800 shares of the network equipment provider’s stock worth $850,000 after buying an additional 250 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in Juniper Networks by 2.6% in the second quarter. Nisa Investment Advisors LLC now owns 18,676 shares of the network equipment provider’s stock worth $420,000 after buying an additional 470 shares during the period. Institutional investors own 85.22% of the company’s stock.

Shares of Juniper Networks Inc. (NYSE:JNPR) opened at 23.94 on Wednesday. Juniper Networks Inc. has a one year low of $21.18 and a one year high of $32.39. The stock has a 50 day moving average price of $23.55 and a 200 day moving average price of $23.34. The stock has a market capitalization of $9.17 billion, a P/E ratio of 14.88 and a beta of 1.76.

Juniper Networks (NYSE:JNPR) last released its quarterly earnings results on Tuesday, July 26th. The network equipment provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. Juniper Networks had a return on equity of 13.84% and a net margin of 12.83%. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the firm earned $0.53 earnings per share. The firm’s revenue was down .1% compared to the same quarter last year. Equities analysts forecast that Juniper Networks Inc. will post $1.98 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Thursday, September 1st were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Tuesday, August 30th. Juniper Networks’s dividend payout ratio is currently 24.84%.

A number of analysts recently commented on the company. BMO Capital Markets reiterated a “hold” rating and set a $23.00 price objective on shares of Juniper Networks in a research report on Tuesday, July 26th. Zacks Investment Research upgraded Juniper Networks from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Tuesday, June 28th. Jefferies Group reiterated a “hold” rating and set a $24.50 price objective on shares of Juniper Networks in a research report on Wednesday, July 27th. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Juniper Networks in a research report on Wednesday, July 27th. Finally, Citigroup Inc. upped their price target on Juniper Networks from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 27th. One research analyst has rated the stock with a sell rating, twenty have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $27.33.

In other news, Director Kevin A. Denuccio sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $23.43, for a total transaction of $234,300.00. Following the sale, the director now owns 11,074 shares of the company’s stock, valued at $259,463.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Scott Kriens sold 750,000 shares of the company’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $23.46, for a total value of $17,595,000.00. Following the sale, the director now directly owns 130,122 shares in the company, valued at approximately $3,052,662.12. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Juniper Networks Company Profile

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