Principal Financial Group Inc. Has $1.92 Million Stock Holdings in Movado Group, Inc. (NYSE:MOV)

Principal Financial Group Inc. trimmed its position in Movado Group, Inc. (NYSE:MOV) by 4.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 77,089 shares of the company’s stock after selling 3,881 shares during the quarter. Principal Financial Group Inc.’s holdings in Movado Group were worth $1,916,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in shares of Movado Group in the 2nd quarter valued at about $25,000. Quadrant Capital Group LLC lifted its holdings in Movado Group by 112.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,060 shares of the company’s stock valued at $32,000 after buying an additional 561 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Movado Group by 1,246.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,906 shares of the company’s stock valued at $109,000 after acquiring an additional 3,616 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Movado Group during the 2nd quarter worth $122,000. Finally, EntryPoint Capital LLC raised its position in shares of Movado Group by 54.1% during the 1st quarter. EntryPoint Capital LLC now owns 5,293 shares of the company’s stock valued at $148,000 after acquiring an additional 1,859 shares during the last quarter. 72.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Benchmark restated a “buy” rating and issued a $41.00 price target on shares of Movado Group in a research report on Friday, May 31st. StockNews.com lowered Movado Group from a “buy” rating to a “hold” rating in a research note on Friday, September 6th.

Insiders Place Their Bets

In other news, SVP Michelle Kennedy sold 1,245 shares of Movado Group stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $26.05, for a total transaction of $32,432.25. Following the transaction, the senior vice president now owns 12,202 shares in the company, valued at approximately $317,862.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 30.11% of the company’s stock.

Movado Group Price Performance

Movado Group stock opened at $18.38 on Friday. The firm has a market capitalization of $408.11 million, a price-to-earnings ratio of 10.27 and a beta of 1.00. The company’s 50 day simple moving average is $23.84 and its 200 day simple moving average is $25.53. Movado Group, Inc. has a fifty-two week low of $18.02 and a fifty-two week high of $31.44.

Movado Group (NYSE:MOV) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). Movado Group had a return on equity of 7.23% and a net margin of 5.45%. The firm had revenue of $159.31 million for the quarter. During the same quarter last year, the company posted $0.38 earnings per share. As a group, analysts predict that Movado Group, Inc. will post 0.95 EPS for the current fiscal year.

Movado Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.35 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.40 annualized dividend and a dividend yield of 7.62%. Movado Group’s dividend payout ratio (DPR) is currently 78.21%.

Movado Group Profile

Movado Group, Inc designs, sources, markets, and distributes watches in the United States and internationally. The company operates in two segments, Watch and Accessory Brands, and Company Stores. The company offers its watches under the Movado, Concord, Ebel, Olivia Burton, and MVMT brands, as well as licensed brands comprising Coach, Tommy Hilfiger, HUGO BOSS, Lacoste, and Calvin Klein.