Allianz Asset Management GmbH Buys 167,958 Shares of Organon & Co. (NYSE:OGN)

Allianz Asset Management GmbH increased its position in shares of Organon & Co. (NYSE:OGN - Free Report) by 15.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,276,249 shares of the company's stock after acquiring an additional 167,958 shares during the period. Allianz Asset Management GmbH owned approximately 0.49% of Organon & Co. worth $19,003,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GeoWealth Management LLC purchased a new position in Organon & Co. in the 4th quarter worth approximately $41,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Organon & Co. in the 1st quarter worth approximately $60,000. GAMMA Investing LLC grew its stake in Organon & Co. by 186.9% in the 1st quarter. GAMMA Investing LLC now owns 4,611 shares of the company's stock worth $69,000 after buying an additional 3,004 shares in the last quarter. Cary Street Partners Financial LLC purchased a new position in Organon & Co. in the 4th quarter worth approximately $111,000. Finally, SBI Securities Co. Ltd. grew its stake in Organon & Co. by 17.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 7,653 shares of the company's stock worth $114,000 after buying an additional 1,145 shares in the last quarter. Hedge funds and other institutional investors own 77.43% of the company's stock.

Insider Activity

In other news, VP Daniel Karp purchased 3,500 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was bought at an average cost of $8.24 per share, for a total transaction of $28,840.00. Following the acquisition, the vice president directly owned 46,669 shares of the company's stock, valued at $384,552.56. This represents a 8.11% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Kevin Ali purchased 34,000 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were purchased at an average price of $8.80 per share, with a total value of $299,200.00. Following the completion of the acquisition, the chief executive officer directly owned 282,731 shares in the company, valued at $2,488,032.80. The trade was a 13.67% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 102,345 shares of company stock valued at $902,430. 1.40% of the stock is owned by corporate insiders.

Organon & Co. Trading Down 1.0%

Shares of Organon & Co. stock traded down $0.11 during trading on Monday, reaching $10.11. The company's stock had a trading volume of 530,226 shares, compared to its average volume of 4,412,149. Organon & Co. has a 52-week low of $8.01 and a 52-week high of $23.10. The company has a market cap of $2.63 billion, a price-to-earnings ratio of 3.52, a PEG ratio of 1.06 and a beta of 0.60. The firm's 50-day moving average is $9.66 and its two-hundred day moving average is $12.29. The company has a quick ratio of 1.15, a current ratio of 1.67 and a debt-to-equity ratio of 16.49.

Organon & Co. (NYSE:OGN - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $1.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.13. Organon & Co. had a net margin of 11.92% and a return on equity of 227.43%. The company had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.53 billion. During the same quarter in the prior year, the company earned $1.22 EPS. The firm's revenue was down 6.7% on a year-over-year basis. On average, sell-side analysts anticipate that Organon & Co. will post 3.68 earnings per share for the current year.

Organon & Co. Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Monday, May 12th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.08 dividend on an annualized basis and a yield of 0.79%. Organon & Co.'s dividend payout ratio is currently 2.78%.

Analyst Ratings Changes

A number of research firms have commented on OGN. Evercore ISI cut shares of Organon & Co. from an "outperform" rating to an "inline" rating in a research note on Friday, May 2nd. Morgan Stanley cut their price target on shares of Organon & Co. from $15.00 to $10.00 and set an "equal weight" rating for the company in a research note on Monday, May 5th. Piper Sandler cut their price target on shares of Organon & Co. from $24.00 to $18.00 and set an "overweight" rating for the company in a research note on Thursday, May 15th. Finally, BNP Paribas raised shares of Organon & Co. to a "strong-buy" rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $18.00.

Organon & Co. Profile

Organon & Co is a science based global pharmaceutical company, which develops and delivers innovative health solutions through a portfolio of prescription therapies within women's health, biosimilars and established brands. The company was founded on March 11, 2020, and is headquartered in Jersey City, NJ.