Convergence Financial LLC Decreases Holdings in Haleon plc (NYSE:HLN)

Convergence Financial LLC decreased its position in shares of Haleon plc (NYSE:HLN) by 41.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 10,958 shares of the company’s stock after selling 7,647 shares during the period. Convergence Financial LLC’s holdings in Haleon were worth $116,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Janney Montgomery Scott LLC boosted its holdings in shares of Haleon by 182.3% during the first quarter. Janney Montgomery Scott LLC now owns 438,833 shares of the company’s stock worth $3,726,000 after purchasing an additional 283,410 shares during the last quarter. Capstone Investment Advisors LLC acquired a new stake in shares of Haleon during the first quarter valued at about $1,969,000. Manning & Napier Advisors LLC acquired a new stake in shares of Haleon during the second quarter valued at about $2,833,000. Norden Group LLC grew its stake in shares of Haleon by 4,086.3% during the first quarter. Norden Group LLC now owns 428,129 shares of the company’s stock valued at $3,635,000 after acquiring an additional 417,902 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its stake in Haleon by 31.0% in the first quarter. First Eagle Investment Management LLC now owns 1,361,021 shares of the company’s stock worth $11,555,000 after purchasing an additional 321,928 shares in the last quarter. Hedge funds and other institutional investors own 6.67% of the company’s stock.

Haleon Price Performance

NYSE HLN opened at $9.85 on Friday. The business’s fifty day moving average is $10.23 and its two-hundred day moving average is $9.20. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.58 and a current ratio of 0.84. Haleon plc has a 1 year low of $7.70 and a 1 year high of $10.80. The stock has a market capitalization of $44.98 billion, a P/E ratio of 32.83, a P/E/G ratio of 2.90 and a beta of 0.26.

Haleon (NYSE:HLN) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). Haleon had a return on equity of 13.15% and a net margin of 9.71%. The company had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.55 billion. During the same period last year, the company posted $0.08 earnings per share. On average, research analysts forecast that Haleon plc will post 0.46 earnings per share for the current fiscal year.

Haleon Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, August 16th were given a dividend of $0.0514 per share. This represents a yield of 1.6%. The ex-dividend date was Friday, August 16th. Haleon’s payout ratio is 33.33%.

Analysts Set New Price Targets

A number of equities analysts have commented on HLN shares. UBS Group upgraded Haleon to a “strong-buy” rating in a research note on Tuesday, October 1st. The Goldman Sachs Group downgraded Haleon from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 6th. Berenberg Bank initiated coverage on Haleon in a report on Tuesday, August 6th. They set a “buy” rating on the stock. Finally, Morgan Stanley lifted their price target on Haleon from $9.90 to $10.95 and gave the company an “overweight” rating in a report on Friday, September 20th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Haleon has an average rating of “Buy” and a consensus target price of $10.95.

Haleon Company Profile

Haleon plc, together with its subsidiaries, engages in the research, development, manufacture, and sale of various consumer healthcare products in North America, Europe, the Middle East, Africa, Latin America, and the Asia Pacific. The company provides oral health products, such as toothpastes, mouth washes, and denture care products under the Sensodyne, Polident, Parodontax, Biotene brands; and vitamins, minerals, and supplements under Centrum, Emergen-C, Caltrate brands.