Principal Financial Group Inc. Acquires 11,633 Shares of CLEAR Secure, Inc. (NYSE:YOU)

Principal Financial Group Inc. boosted its holdings in shares of CLEAR Secure, Inc. (NYSE:YOU - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 519,264 shares of the company's stock after acquiring an additional 11,633 shares during the period. Principal Financial Group Inc. owned approximately 0.38% of CLEAR Secure worth $13,454,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC bought a new position in CLEAR Secure during the first quarter worth about $27,000. Fifth Third Bancorp raised its stake in shares of CLEAR Secure by 217.0% in the 1st quarter. Fifth Third Bancorp now owns 1,116 shares of the company's stock valued at $29,000 after purchasing an additional 764 shares during the period. Huntington National Bank acquired a new stake in shares of CLEAR Secure in the 4th quarter valued at about $35,000. First Horizon Advisors Inc. raised its stake in shares of CLEAR Secure by 72.0% in the 1st quarter. First Horizon Advisors Inc. now owns 1,474 shares of the company's stock valued at $38,000 after purchasing an additional 617 shares during the period. Finally, Strategic Investment Solutions Inc. IL raised its stake in shares of CLEAR Secure by 113,800.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 2,278 shares of the company's stock valued at $61,000 after purchasing an additional 2,276 shares during the period. 73.80% of the stock is currently owned by institutional investors.

Insider Transactions at CLEAR Secure

In related news, Director Adam Wiener sold 3,000 shares of CLEAR Secure stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $27.50, for a total transaction of $82,500.00. Following the completion of the transaction, the director owned 212,634 shares in the company, valued at approximately $5,847,435. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kenneth L. Cornick sold 315,591 shares of CLEAR Secure stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $25.02, for a total value of $7,896,086.82. Following the transaction, the director owned 64,935 shares of the company's stock, valued at $1,624,673.70. The trade was a 82.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 960,964 shares of company stock valued at $24,238,299 in the last quarter. 39.73% of the stock is currently owned by corporate insiders.

CLEAR Secure Stock Performance

NYSE:YOU opened at $28.39 on Friday. The stock's 50-day simple moving average is $25.93 and its 200 day simple moving average is $25.45. The company has a market cap of $3.78 billion, a P/E ratio of 17.74 and a beta of 1.25. CLEAR Secure, Inc. has a 52-week low of $18.23 and a 52-week high of $38.88.

CLEAR Secure (NYSE:YOU - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.30 by ($0.04). The company had revenue of $211.40 million during the quarter, compared to analyst estimates of $208.02 million. CLEAR Secure had a net margin of 21.96% and a return on equity of 115.09%. CLEAR Secure's revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.28 EPS. As a group, equities analysts predict that CLEAR Secure, Inc. will post 0.98 earnings per share for the current fiscal year.

CLEAR Secure Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Tuesday, June 10th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend was Tuesday, June 10th. CLEAR Secure's payout ratio is currently 31.25%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Needham & Company LLC reissued a "buy" rating and issued a $45.00 price target on shares of CLEAR Secure in a research note on Monday, March 24th. Telsey Advisory Group reissued an "outperform" rating and issued a $32.00 price target on shares of CLEAR Secure in a research note on Friday, May 9th. Finally, Wall Street Zen downgraded CLEAR Secure from a "buy" rating to a "hold" rating in a research note on Sunday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, CLEAR Secure currently has a consensus rating of "Moderate Buy" and an average price target of $32.00.

CLEAR Secure Company Profile

Clear Secure, Inc operates a secure identity platform under the CLEAR brand name primarily in the United States. Its secure identity platform is a multi-layered infrastructure consisting of front-end, including enrollment, verification, and linking, as well as back-end. The company also offers CLEAR Plus, a consumer aviation subscription service, which enables access to predictable entry lanes in airport security checkpoints, as well as access to broader network; and CLEAR mobile app, which is used to enroll new members and improve the experience for existing members.

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