Securian Asset Management Inc. Sells 359 Shares of Intuit Inc. (NASDAQ:INTU)

Securian Asset Management Inc. trimmed its holdings in Intuit Inc. (NASDAQ:INTU) by 2.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 15,091 shares of the software maker’s stock after selling 359 shares during the quarter. Securian Asset Management Inc.’s holdings in Intuit were worth $9,485,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Proficio Capital Partners LLC raised its holdings in shares of Intuit by 112,233.1% in the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock valued at $668,595,000 after purchasing an additional 1,062,847 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Intuit in the fourth quarter worth about $300,854,000. Holocene Advisors LP increased its stake in shares of Intuit by 99.6% in the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after purchasing an additional 312,212 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after acquiring an additional 268,060 shares during the period. Finally, State Street Corp boosted its position in shares of Intuit by 1.8% in the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after acquiring an additional 221,885 shares during the period. 83.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on INTU. Mizuho lifted their target price on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a report on Wednesday, January 15th. BMO Capital Markets decreased their target price on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. Finally, StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $721.61.

Insider Activity

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the transaction, the executive vice president now directly owns 489 shares in the company, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Scott D. Cook sold 73,655 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the completion of the transaction, the insider now owns 6,301,286 shares of the company’s stock, valued at $4,189,977,112.84. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 213,111 shares of company stock valued at $137,327,184. 2.68% of the stock is currently owned by company insiders.

Intuit Stock Up 1.2 %

NASDAQ INTU opened at $586.71 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a fifty day moving average of $600.43 and a two-hundred day moving average of $624.29. The firm has a market capitalization of $164.02 billion, a price-to-earnings ratio of 56.96, a PEG ratio of 2.85 and a beta of 1.27. Intuit Inc. has a 52 week low of $553.24 and a 52 week high of $714.78.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio is currently 38.81%.

Intuit Profile

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.