Northwestern Mutual Wealth Management Co. Raises Position in Haleon PLC Sponsored ADR $HLN

Key Points

• Northwestern Mutual Wealth Management Co. significantly increased its stake in Haleon PLC by 1,004.6% in the first quarter, owning 207,843 shares valued at approximately $2.14 million.
• Haleon recently announced a semi-annual dividend increase from $0.05 to $0.0555 per share, marking a positive shift in its dividend policy.
• Equity analysts have mixed ratings for Haleon, with a consensus target price of $12.33 and recent upgrades from firms like BNP Paribas, indicating a growing confidence in the stock.

Northwestern Mutual Wealth Management Co. grew its stake in Haleon PLC Sponsored ADR (NYSE:HLN - Free Report) by 1,004.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 207,843 shares of the company's stock after acquiring an additional 189,027 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Haleon were worth $2,139,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in HLN. Brighton Jones LLC bought a new stake in Haleon in the fourth quarter worth $187,000. First Trust Advisors LP purchased a new position in shares of Haleon in the fourth quarter worth $517,000. The Manufacturers Life Insurance Company raised its stake in shares of Haleon by 0.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,799,005 shares of the company's stock worth $17,163,000 after purchasing an additional 10,264 shares during the last quarter. Northern Trust Corp raised its stake in shares of Haleon by 27.7% in the fourth quarter. Northern Trust Corp now owns 5,412,542 shares of the company's stock worth $51,636,000 after purchasing an additional 1,172,931 shares during the last quarter. Finally, Lido Advisors LLC raised its stake in shares of Haleon by 24.5% in the fourth quarter. Lido Advisors LLC now owns 50,891 shares of the company's stock worth $485,000 after purchasing an additional 10,017 shares during the last quarter. 6.67% of the stock is owned by institutional investors.

Haleon Price Performance

Haleon stock traded down $0.04 during midday trading on Tuesday, reaching $9.77. 10,851,949 shares of the stock traded hands, compared to its average volume of 12,709,729. The stock's fifty day moving average is $9.83 and its 200-day moving average is $10.22. Haleon PLC Sponsored ADR has a 12 month low of $8.86 and a 12 month high of $11.42. The stock has a market cap of $43.78 billion, a P/E ratio of 25.04, a PEG ratio of 2.89 and a beta of 0.23. The company has a quick ratio of 0.63, a current ratio of 0.87 and a debt-to-equity ratio of 0.48.

Haleon Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, August 15th will be paid a dividend of $0.0555 per share. The ex-dividend date of this dividend is Friday, August 15th. This is a boost from Haleon's previous semi-annual dividend of $0.05. This represents a yield of 190.0%. Haleon's dividend payout ratio is currently 28.21%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on HLN shares. BNP Paribas upgraded Haleon to a "strong-buy" rating in a research note on Tuesday, May 27th. BNP Paribas Exane upgraded Haleon from a "neutral" rating to an "outperform" rating and set a $13.40 price objective for the company in a research report on Tuesday, May 27th. Morgan Stanley upgraded Haleon from an "equal weight" rating to an "overweight" rating and set a $11.25 price objective for the company in a research report on Friday, May 9th. Wall Street Zen cut Haleon from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, Barclays reiterated an "overweight" rating on shares of Haleon in a research report on Tuesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $12.33.

About Haleon

Haleon plc, together with its subsidiaries, engages in the research, development, manufacture, and sale of various consumer healthcare products in North America, Europe, the Middle East, Africa, Latin America, and the Asia Pacific. The company provides oral health products, such as toothpastes, mouth washes, and denture care products under the Sensodyne, Polident, Parodontax, Biotene brands; and vitamins, minerals, and supplements under Centrum, Emergen-C, Caltrate brands.