People Incorporated Common Stock $PPLI Shares Bought by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp dramatically increased its position in People Incorporated Common Stock, boosting holdings by 17,176.1% in the first quarter to 31,097 shares worth about $1.25 million.
• Institutional ownership remains very high, with hedge funds and other institutional investors holding 88.90% of the stock. Several firms also expanded their stakes, including Aristeia Capital, Corvex Management, and Bank of Montreal Can.
• Wall Street sentiment is generally positive: analysts have a Moderate Buy consensus on PPLI, with an average price target of $53.62. Recent target hikes from UBS, Barclays, JPMorgan, and TD Cowen suggest improving expectations.

Fifth Third Bancorp increased its stake in shares of People Incorporated Common Stock (NASDAQ:PPLI - Free Report) by 17,176.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,097 shares of the company's stock after acquiring an additional 30,917 shares during the quarter. Fifth Third Bancorp's holdings in People Incorporated Common Stock were worth $1,245,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Aristeia Capital L.L.C. grew its holdings in shares of People Incorporated Common Stock by 100.7% during the fourth quarter. Aristeia Capital L.L.C. now owns 5,702,459 shares of the company's stock worth $222,966,000 after purchasing an additional 2,861,871 shares during the last quarter. Corvex Management LP lifted its holdings in shares of People Incorporated Common Stock by 20.3% in the 4th quarter. Corvex Management LP now owns 3,355,075 shares of the company's stock valued at $131,183,000 after purchasing an additional 566,696 shares during the last quarter. Bank of Montreal Can boosted its position in shares of People Incorporated Common Stock by 42,721.4% in the 4th quarter. Bank of Montreal Can now owns 3,128,104 shares of the company's stock valued at $122,309,000 after purchasing an additional 3,120,799 shares during the period. Davis Selected Advisers boosted its position in shares of People Incorporated Common Stock by 12.1% in the 4th quarter. Davis Selected Advisers now owns 2,514,072 shares of the company's stock valued at $98,301,000 after purchasing an additional 270,383 shares during the period. Finally, Patient Capital Management LLC grew its stake in People Incorporated Common Stock by 12.6% during the 4th quarter. Patient Capital Management LLC now owns 2,374,050 shares of the company's stock worth $92,825,000 after buying an additional 265,805 shares during the last quarter. 88.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on PPLI. Wall Street Zen upgraded shares of People Incorporated Common Stock from a "sell" rating to a "hold" rating in a research note on Saturday. UBS Group raised their price target on People Incorporated Common Stock from $42.00 to $49.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. Barclays boosted their price target on People Incorporated Common Stock from $48.00 to $55.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. increased their price objective on People Incorporated Common Stock from $46.00 to $52.00 and gave the stock an "overweight" rating in a research report on Monday, May 4th. Finally, TD Cowen lifted their target price on People Incorporated Common Stock from $60.00 to $66.00 and gave the company a "buy" rating in a research note on Monday, May 4th. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, People Incorporated Common Stock currently has a consensus rating of "Moderate Buy" and an average price target of $53.62.

People Incorporated Common Stock Price Performance

Shares of NASDAQ:PPLI opened at $41.69 on Friday. The company has a market cap of $2.86 billion, a P/E ratio of 112.68 and a beta of 1.02. The company has a quick ratio of 3.69, a current ratio of 3.69 and a debt-to-equity ratio of 0.30. People Incorporated Common Stock has a 52 week low of $29.56 and a 52 week high of $48.32. The business has a fifty day simple moving average of $43.76 and a 200-day simple moving average of $40.88.

People Incorporated Common Stock Company Profile

IAC NASDAQ: IAC is a publicly traded holding company headquartered in New York City that builds and invests in consumer-focused internet businesses. Through its portfolio of digital media brands, online marketplaces and subscription services, IAC delivers content and connections across a range of verticals, including lifestyle, finance, home services and personal care. The company's operations span North America and parts of Europe, where its brands reach millions of visitors each month.

In the digital publishing space, IAC's Dotdash Meredith division develops original content and data‐driven journalism across more than a dozen specialty sites.

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