Principal Financial Group Inc. Buys New Holdings in Stagwell Inc. (NASDAQ:STGW)

Principal Financial Group Inc. purchased a new position in shares of Stagwell Inc. (NASDAQ:STGW) in the 3rd quarter, Holdings Channel.com reports. The fund purchased 32,557 shares of the company’s stock, valued at approximately $229,000.

Other large investors also recently modified their holdings of the company. Quarry LP acquired a new stake in Stagwell during the 2nd quarter worth approximately $29,000. Hsbc Holdings PLC increased its position in shares of Stagwell by 25.1% in the second quarter. Hsbc Holdings PLC now owns 16,757 shares of the company’s stock worth $114,000 after acquiring an additional 3,360 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Stagwell during the 3rd quarter worth $153,000. Concurrent Investment Advisors LLC increased its holdings in Stagwell by 44.4% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 28,875 shares of the company’s stock valued at $197,000 after purchasing an additional 8,875 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Stagwell by 16.1% in the second quarter. The Manufacturers Life Insurance Company now owns 35,681 shares of the company’s stock valued at $243,000 after purchasing an additional 4,961 shares during the period. 35.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Benchmark increased their target price on Stagwell from $8.50 to $9.50 and gave the company a “buy” rating in a research note on Friday, November 8th. Needham & Company LLC reiterated a “buy” rating and set a $7.50 price objective on shares of Stagwell in a research note on Monday, October 21st. Finally, Rosenblatt Securities raised their price target on shares of Stagwell from $8.00 to $9.00 and gave the company a “buy” rating in a report on Monday, November 18th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $8.50.

Stagwell Stock Performance

Stagwell stock opened at $7.92 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.97. The stock has a 50 day moving average of $7.05 and a 200-day moving average of $6.88. The stock has a market cap of $2.08 billion, a P/E ratio of 26.07 and a beta of 1.35. Stagwell Inc. has a 52 week low of $4.88 and a 52 week high of $8.04.

Stagwell Profile

Stagwell Inc provides digital transformation, performance media and data, consumer insights and strategy, and creativity and communications services. The company operates through three segments: Integrated Agencies Network, Brand Performance Network, and Communications Network. It designs and builds digital platforms and experiences that support the delivery of content, commerce, service, and sales; creates websites, mobile applications, back-end systems, content and data management systems, and other digital environments; designs and implements technology and data strategies; and develops software and related technology products, including artificial intelligence (AI)-enabled communications, research, and media technology, cookie-less data platforms for advance targeting and activation, software tools for e-commerce applications, specialty media solutions in the augmented reality space, and text messaging applications for consumer engagement.