Principal Financial Group Inc. Lowers Stock Position in Organon & Co. (NYSE:OGN)

Principal Financial Group Inc. cut its holdings in Organon & Co. (NYSE:OGN) by 55.5% during the third quarter, Holdings Channel reports. 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.’s holdings in Organon & Co. were worth $23,268,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of OGN. LSV Asset Management increased its position in Organon & Co. by 47.3% during the 2nd quarter. LSV Asset Management now owns 6,610,768 shares of the company’s stock valued at $136,843,000 after buying an additional 2,121,940 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Organon & Co. by 2.0% during the third quarter. Geode Capital Management LLC now owns 4,248,108 shares of the company’s stock valued at $81,288,000 after acquiring an additional 82,220 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Organon & Co. by 39.8% in the 2nd quarter. AQR Capital Management LLC now owns 3,473,655 shares of the company’s stock worth $71,905,000 after purchasing an additional 988,336 shares during the last quarter. Deprince Race & Zollo Inc. boosted its stake in Organon & Co. by 6.8% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 3,421,703 shares of the company’s stock worth $70,829,000 after purchasing an additional 216,907 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Organon & Co. by 35.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,323,051 shares of the company’s stock valued at $63,570,000 after purchasing an additional 875,128 shares during the last quarter. 77.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

OGN has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut shares of Organon & Co. from a “neutral” rating to an “underweight” rating and lifted their target price for the stock from $18.00 to $20.00 in a report on Friday, September 6th. Evercore ISI raised Organon & Co. to a “strong-buy” rating in a research report on Wednesday, September 18th.

Organon & Co. Price Performance

OGN opened at $14.73 on Thursday. The company’s 50-day simple moving average is $15.92 and its two-hundred day simple moving average is $18.83. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70. The stock has a market capitalization of $3.79 billion, a P/E ratio of 2.92, a P/E/G ratio of 0.81 and a beta of 0.75. Organon & Co. has a 52-week low of $13.65 and a 52-week high of $23.10.

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

Organon & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 12th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 7.60%. The ex-dividend date was Tuesday, November 12th. Organon & Co.’s payout ratio is currently 22.22%.

Organon & Co. Company 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.