Zayo Group Holdings, Inc. (ZAYO) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its holdings in shares of Zayo Group Holdings, Inc. (NYSE:ZAYO) by 16.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,298 shares of the technology company’s stock after acquiring an additional 4,657 shares during the quarter. Principal Financial Group Inc.’s holdings in Zayo Group Holdings were worth $998,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Zayo Group Holdings by 2.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,720 shares of the technology company’s stock valued at $1,289,000 after acquiring an additional 806 shares during the last quarter. Neuberger Berman Group LLC boosted its position in shares of Zayo Group Holdings by 43,789.5% during the 2nd quarter. Neuberger Berman Group LLC now owns 2,707,985 shares of the technology company’s stock valued at $83,677,000 after acquiring an additional 2,701,815 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Zayo Group Holdings by 8.1% during the 2nd quarter. Pacer Advisors Inc. now owns 31,844 shares of the technology company’s stock valued at $984,000 after acquiring an additional 2,388 shares during the last quarter. Utah Retirement Systems boosted its position in shares of Zayo Group Holdings by 14.5% during the 2nd quarter. Utah Retirement Systems now owns 34,000 shares of the technology company’s stock valued at $1,051,000 after acquiring an additional 4,300 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Zayo Group Holdings by 13.5% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 364,271 shares of the technology company’s stock valued at $11,256,000 after acquiring an additional 43,266 shares during the last quarter. Hedge funds and other institutional investors own 78.91% of the company’s stock.

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A number of brokerages have recently issued reports on ZAYO. BidaskClub downgraded Zayo Group Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday. Moffett Nathanson reiterated a “neutral” rating and set a $39.00 price target (up previously from $34.00) on shares of Zayo Group Holdings in a research report on Thursday, September 28th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $42.00 price target on shares of Zayo Group Holdings in a research report on Wednesday, September 13th. Deutsche Bank AG began coverage on Zayo Group Holdings in a research report on Monday, August 28th. They set a “hold” rating for the company. Finally, Cowen and Company reiterated an “outperform” rating and set a $45.00 price target on shares of Zayo Group Holdings in a research report on Wednesday, August 23rd. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $38.36.

Shares of Zayo Group Holdings, Inc. (NYSE ZAYO) opened at 34.30 on Wednesday. The company has a market cap of $8.45 billion, a P/E ratio of 98.00 and a beta of 0.55. Zayo Group Holdings, Inc. has a 52-week low of $29.30 and a 52-week high of $35.65. The company has a 50-day moving average price of $34.48 and a 200-day moving average price of $33.03.

Zayo Group Holdings (NYSE:ZAYO) last released its quarterly earnings results on Monday, August 21st. The technology company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.02). The firm had revenue of $638.00 million for the quarter, compared to analysts’ expectations of $642.67 million. Zayo Group Holdings had a net margin of 3.90% and a return on equity of 7.48%. The business’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.13) EPS. On average, equities analysts predict that Zayo Group Holdings, Inc. will post $0.61 EPS for the current year.

In other news, CFO Kenneth Desgarennes sold 38,885 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $34.08, for a total value of $1,325,200.80. Following the completion of the sale, the chief financial officer now directly owns 1,018,044 shares of the company’s stock, valued at approximately $34,694,939.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Daniel Caruso sold 58,634 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $34.55, for a total value of $2,025,804.70. The disclosure for this sale can be found here. Insiders have sold a total of 5,617,498 shares of company stock valued at $192,225,997 in the last 90 days. 5.20% of the stock is currently owned by company insiders.

Zayo Group Holdings Profile

Zayo Group Holdings, Inc provides communications infrastructure services, including fiber and bandwidth connectivity, colocation and cloud infrastructure to a range of businesses. The Company operates in five segments: Dark Fiber Solutions, Network Connectivity, Colocation and Cloud Infrastructure, Zayo Canada and Other.

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Institutional Ownership by Quarter for Zayo Group Holdings (NYSE:ZAYO)

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