Stagwell Inc. (NASDAQ:STGW) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its holdings in Stagwell Inc. (NASDAQ:STGW) by 7.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,935 shares of the company’s stock after buying an additional 2,378 shares during the period. Principal Financial Group Inc.’s holdings in Stagwell were worth $230,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of STGW. Barclays PLC raised its position in shares of Stagwell by 304.6% in the third quarter. Barclays PLC now owns 134,421 shares of the company’s stock valued at $944,000 after buying an additional 101,201 shares during the last quarter. Portfolio Design Labs LLC acquired a new stake in shares of Stagwell in the fourth quarter valued at about $271,000. Jane Street Group LLC raised its position in shares of Stagwell by 37.1% in the third quarter. Jane Street Group LLC now owns 149,506 shares of the company’s stock valued at $1,050,000 after buying an additional 40,439 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Stagwell by 2.0% in the fourth quarter. Harbor Capital Advisors Inc. now owns 1,266,783 shares of the company’s stock valued at $8,335,000 after buying an additional 25,189 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Stagwell in the third quarter valued at about $136,000. 35.61% of the stock is currently owned by institutional investors and hedge funds.

Stagwell Trading Up 0.8 %

Shares of STGW stock opened at $6.23 on Friday. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market cap of $1.64 billion, a PE ratio of 311.50 and a beta of 1.56. The company has a 50-day moving average of $6.38 and a two-hundred day moving average of $6.87. Stagwell Inc. has a 1-year low of $5.29 and a 1-year high of $8.18.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Rosenblatt Securities increased their target price on shares of Stagwell from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Wells Fargo & Company raised shares of Stagwell from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $8.00 to $9.00 in a report on Friday, February 21st. Finally, Benchmark upped their price objective on shares of Stagwell from $8.50 to $9.50 and gave the company a “buy” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Stagwell presently has an average rating of “Moderate Buy” and an average price target of $8.75.

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.