Principal Financial Group Inc. Increases Holdings in PagSeguro Digital Ltd. (NYSE:PAGS)

Principal Financial Group Inc. lifted its holdings in shares of PagSeguro Digital Ltd. (NYSE:PAGS) by 23.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 403,938 shares of the company’s stock after buying an additional 77,543 shares during the period. Principal Financial Group Inc.’s holdings in PagSeguro Digital were worth $3,478,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. SPX Gestao de Recursos Ltda purchased a new position in PagSeguro Digital in the third quarter valued at approximately $38,151,000. Marshall Wace LLP boosted its holdings in shares of PagSeguro Digital by 55.5% in the 2nd quarter. Marshall Wace LLP now owns 6,994,870 shares of the company’s stock valued at $81,770,000 after buying an additional 2,497,968 shares in the last quarter. Millennium Management LLC grew its position in shares of PagSeguro Digital by 115.1% in the 2nd quarter. Millennium Management LLC now owns 3,813,901 shares of the company’s stock valued at $44,585,000 after buying an additional 2,040,704 shares during the last quarter. State Street Corp raised its stake in PagSeguro Digital by 50.8% during the 3rd quarter. State Street Corp now owns 5,908,054 shares of the company’s stock worth $50,868,000 after acquiring an additional 1,990,849 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in PagSeguro Digital by 26.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 5,478,310 shares of the company’s stock valued at $47,168,000 after acquiring an additional 1,144,590 shares during the last quarter. Hedge funds and other institutional investors own 45.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. The Goldman Sachs Group dropped their price objective on PagSeguro Digital from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Itau BBA Securities downgraded PagSeguro Digital from an “outperform” rating to a “market perform” rating and set a $12.00 price target on the stock. in a research note on Tuesday, October 1st. Bank of America reiterated a “neutral” rating on shares of PagSeguro Digital in a research note on Tuesday, December 10th. Susquehanna lowered their target price on shares of PagSeguro Digital from $19.00 to $16.00 and set a “positive” rating on the stock in a research report on Monday, November 18th. Finally, Barclays cut their target price on shares of PagSeguro Digital from $16.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, PagSeguro Digital presently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

PagSeguro Digital Price Performance

NYSE:PAGS opened at $6.28 on Friday. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of 5.19, a price-to-earnings-growth ratio of 0.44 and a beta of 1.92. The firm’s fifty day moving average price is $7.35 and its 200 day moving average price is $9.65. PagSeguro Digital Ltd. has a 1-year low of $6.11 and a 1-year high of $14.98.

PagSeguro Digital Company Profile

PagSeguro Digital Ltd., together with its subsidiaries, provides financial technology solutions and services for consumers, individual entrepreneurs, micro-merchants, and small and medium-sized companies in Brazil and internationally. The company's products and services include PagSeguro Ecosystem, a digital ecosystem that operates as a closed loop where its clients are able to address their primary day to day financial needs, including receiving and spending funds, and managing and growing their businesses; PagBank digital account, which offers payment and banking services through the PagBank mobile app, as well as centralizes various cash-in options, functionalities, services, and cash-out options in a single ecosystem; and PlugPag, a tool for medium-sized and larger merchants that enables them to connect their point of sale (POS) device directly to their enterprise resource planning software or sales automation system through Bluetooth.