Principal Financial Group Inc. Has $23.27 Million Stake in Organon & Co. (NYSE:OGN)

Principal Financial Group Inc. lowered its position in shares of Organon & Co. (NYSE:OGN) by 55.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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.

A number of other large investors have also recently bought and sold shares of OGN. Oppenheimer & Co. Inc. boosted 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 valued at $791,000 after purchasing an additional 2,186 shares in the last quarter. Sei Investments Co. increased its holdings in Organon & Co. by 31.1% in the first quarter. Sei Investments Co. now owns 570,912 shares of the company’s stock worth $10,733,000 after purchasing an additional 135,373 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Organon & Co. by 3.7% in the first 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 buying an additional 9,899 shares during the period. SageView Advisory Group LLC bought a new position in shares of Organon & Co. during the 1st quarter worth approximately $184,000. Finally, M&G Plc acquired a new stake in shares of Organon & Co. during the 1st quarter worth approximately $3,222,000. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Organon & Co. Trading Up 0.2 %

NYSE OGN opened at $15.61 on Thursday. The company has a market cap of $4.02 billion, a price-to-earnings ratio of 3.10, a P/E/G ratio of 0.73 and a beta of 0.84. Organon & Co. has a 52 week low of $10.84 and a 52 week high of $23.10. The business has a 50 day moving average price of $18.37 and a 200-day moving average price of $19.99. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73.

Organon & Co. (NYSE:OGN) last announced 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). Organon & Co. had a net margin of 20.30% and a return on equity of 644.70%. The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter last year, the firm posted $0.78 EPS. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, equities analysts expect that Organon & Co. will post 3.89 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors 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 annualized dividend and a yield of 7.18%. Organon & Co.’s payout ratio is 22.22%.

Analyst Ratings Changes

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

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.