Principal Financial Group Inc. Acquires 466,901 Shares of Clear Secure, Inc. (NYSE:YOU)

Principal Financial Group Inc. increased its stake in Clear Secure, Inc. (NYSE:YOU) by 3,937.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 478,760 shares of the company’s stock after purchasing an additional 466,901 shares during the quarter. Principal Financial Group Inc.’s holdings in Clear Secure were worth $15,866,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP acquired a new position in shares of Clear Secure during the 3rd quarter worth about $62,950,000. FMR LLC boosted its position in Clear Secure by 30.6% during the third quarter. FMR LLC now owns 6,598,424 shares of the company’s stock worth $218,672,000 after purchasing an additional 1,547,692 shares during the period. State Street Corp grew its stake in Clear Secure by 64.1% in the 3rd quarter. State Street Corp now owns 3,360,945 shares of the company’s stock valued at $111,381,000 after buying an additional 1,312,419 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Clear Secure by 56.5% in the 2nd quarter. Renaissance Technologies LLC now owns 2,954,100 shares of the company’s stock valued at $55,271,000 after acquiring an additional 1,066,400 shares during the period. Finally, Rice Hall James & Associates LLC raised its holdings in Clear Secure by 303.6% in the 2nd quarter. Rice Hall James & Associates LLC now owns 1,199,649 shares of the company’s stock valued at $22,445,000 after acquiring an additional 902,436 shares during the period. Institutional investors and hedge funds own 73.80% of the company’s stock.

Clear Secure Trading Down 0.2 %

YOU stock opened at $27.22 on Friday. The firm has a 50-day moving average price of $29.28 and a 200-day moving average price of $27.02. Clear Secure, Inc. has a 12 month low of $16.05 and a 12 month high of $38.88. The stock has a market capitalization of $3.79 billion, a P/E ratio of 31.65 and a beta of 1.43.

Clear Secure (NYSE:YOU) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.03). The firm had revenue of $198.40 million for the quarter, compared to the consensus estimate of $194.62 million. Clear Secure had a return on equity of 48.28% and a net margin of 10.93%. The business’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.20 earnings per share. As a group, equities analysts predict that Clear Secure, Inc. will post 0.98 EPS for the current fiscal year.

Clear Secure Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 10th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date was Tuesday, December 10th. This is an increase from Clear Secure’s previous quarterly dividend of $0.10. Clear Secure’s dividend payout ratio is currently 58.14%.

Analysts Set New Price Targets

Several research firms recently issued reports on YOU. Needham & Company LLC restated a “buy” rating and issued a $45.00 price target on shares of Clear Secure in a research note on Monday, December 16th. Stifel Nicolaus lifted their price target on shares of Clear Secure from $24.00 to $32.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Wedbush restated a “neutral” rating and issued a $26.00 price target (up previously from $24.00) on shares of Clear Secure in a research report on Thursday, November 7th. Finally, Telsey Advisory Group upped their price objective on shares of Clear Secure from $34.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $35.20.

Insiders Place Their Bets

In other Clear Secure news, Director Alclear Investments Ii, Llc sold 150,000 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $34.08, for a total transaction of $5,112,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 37.85% of the company’s stock.

Clear Secure Profile

Clear Secure, Inc operates a secure identity platform under the CLEAR brand name primarily in the United States. Its secure identity platform is a multi-layered infrastructure consisting of front-end, including enrollment, verification, and linking, as well as back-end. The company also offers CLEAR Plus, a consumer aviation subscription service, which enables access to predictable entry lanes in airport security checkpoints, as well as access to broader network; and CLEAR mobile app, which is used to enroll new members and improve the experience for existing members.