Principal Financial Group Inc. Sells 1,515,328 Shares of Organon & Co. (NYSE:OGN)

Principal Financial Group Inc. cut its position in Organon & Co. (NYSE:OGN) by 55.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,216,312 shares of the company’s stock after selling 1,515,328 shares during the quarter. Principal Financial Group Inc. owned 0.47% of Organon & Co. worth $23,268,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Oppenheimer & Co. Inc. lifted its position in shares of Organon & Co. by 5.5% during the 1st quarter. Oppenheimer & Co. Inc. now owns 42,088 shares of the company’s stock worth $791,000 after buying an additional 2,186 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Organon & Co. by 31.1% in the 1st quarter. Sei Investments Co. now owns 570,912 shares of the company’s stock valued at $10,733,000 after purchasing an additional 135,373 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of Organon & Co. by 3.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 277,929 shares of the company’s stock valued at $5,225,000 after purchasing an additional 9,899 shares during the last quarter. SageView Advisory Group LLC acquired a new position in Organon & Co. during the 1st quarter worth approximately $184,000. Finally, M&G Plc bought a new position in Organon & Co. in the 1st quarter valued at approximately $3,222,000. Institutional investors own 77.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. cut shares of Organon & Co. from a “neutral” rating to an “underweight” rating and boosted their target price for the stock from $18.00 to $20.00 in a research note on Friday, September 6th. Evercore ISI upgraded Organon & Co. to a “strong-buy” rating in a research report on Wednesday, September 18th.

Organon & Co. Trading Up 0.2 %

OGN opened at $15.61 on Thursday. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.21. Organon & Co. has a fifty-two week low of $10.84 and a fifty-two week high of $23.10. The company’s 50 day moving average price is $18.37 and its two-hundred day moving average price is $19.99. The firm has a market capitalization of $4.02 billion, a price-to-earnings ratio of 3.10, a PEG ratio of 0.73 and a beta of 0.84.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.03). The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.56 billion. Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. Organon & Co.’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.78 EPS. As a group, research analysts predict that Organon & Co. will post 3.89 earnings per share for the current year.

Organon & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be given a $0.28 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.18%. Organon & Co.’s dividend payout ratio (DPR) is presently 22.22%.

Organon & Co. Profile

Organon & Co develops and delivers health solutions through a portfolio of prescription therapies and medical devices within women's health in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon, a long-acting reversible contraceptive; NuvaRing, a monthly vaginal contraceptive ring; Cerazette, a daily pill used to prevent pregnancy; Marvelon, progestin and estrogen used as daily pills to prevent pregnancy; Follistim AQ, used to promote the development of multiple ovarian follicles in assisted reproduction technology procedures; Elonva, an ovarian follicle stimulant; Ganirelix Acetate Injection, an injectable antagonist; and Jada, for abnormal postpartum uterine bleeding or hemorrhage.