Bank of America Corp DE Decreases Holdings in Pearson, PLC $PSO

Key Points

• Bank of America cut its Pearson stake by 50.9% in the first quarter, selling 74,021 shares and retaining 71,287 shares valued at approximately $936,000.
• Other major institutions, including Morgan Stanley, Goldman Sachs, Arrowstreet Capital, and Invesco, increased their Pearson holdings, while institutional investors collectively owned 2.14% of the company.
• Pearson shares opened at $15.98, within a 12-month range of $12.02 to $17.75. Recent analyst downgrades contributed to a consensus “Hold” rating, while the company announced a $0.1103 dividend.

Bank of America Corp DE reduced its stake in Pearson, PLC (NYSE:PSO - Free Report) by 50.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,287 shares of the company's stock after selling 74,021 shares during the period. Bank of America Corp DE's holdings in Pearson were worth $936,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PSO. Morgan Stanley grew its stake in shares of Pearson by 34.4% in the fourth quarter. Morgan Stanley now owns 3,971,424 shares of the company's stock valued at $55,759,000 after buying an additional 1,015,739 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Pearson by 13.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,250,970 shares of the company's stock worth $31,604,000 after acquiring an additional 266,782 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Pearson by 72.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,645,461 shares of the company's stock worth $21,605,000 after acquiring an additional 691,339 shares during the period. Invesco Ltd. grew its position in Pearson by 32.1% in the fourth quarter. Invesco Ltd. now owns 1,122,325 shares of the company's stock valued at $15,757,000 after acquiring an additional 272,995 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in Pearson in the first quarter valued at approximately $11,546,000. Institutional investors and hedge funds own 2.14% of the company's stock.

Pearson Stock Performance

Shares of Pearson stock opened at $15.98 on Friday. The firm's 50-day simple moving average is $16.54 and its 200-day simple moving average is $14.95. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.94 and a current ratio of 2.00. Pearson, PLC has a 1 year low of $12.02 and a 1 year high of $17.75.

Pearson Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Monday, September 21st. Investors of record on Friday, August 14th will be issued a $0.1103 dividend. This represents a yield of 137.0%. The ex-dividend date of this dividend is Friday, August 14th.

Analysts Set New Price Targets

PSO has been the topic of a number of recent research reports. Citigroup cut shares of Pearson from a "buy" rating to a "neutral" rating in a research report on Wednesday. The Goldman Sachs Group downgraded shares of Pearson from a "buy" rating to a "neutral" rating in a research note on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Pearson in a report on Monday, August 3rd. Wall Street Zen downgraded Pearson from a "buy" rating to a "hold" rating in a research note on Sunday. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Pearson in a research report on Tuesday. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold".

Pearson Company Profile

Pearson plc is a global education company headquartered in London, England, with significant operations in North America, Europe, Asia, and Latin America. Tracing its roots back to 1844, Pearson evolved from its early beginnings into one of the world's leading providers of educational content, digital learning tools, and assessment services. The company's American subsidiary trades on the New York Stock Exchange under the symbol PSO.

Pearson's core business encompasses a broad portfolio of products and services for learners, educators, and institutions.

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