Principal Financial Group Inc. Acquires 29,881 Shares of Organon & Co. (NYSE:OGN)

Principal Financial Group Inc. grew its position in shares of Organon & Co. (NYSE:OGN - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,278,678 shares of the company's stock after buying an additional 29,881 shares during the quarter. Principal Financial Group Inc. owned approximately 0.50% of Organon & Co. worth $19,040,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Organon & Co. in the fourth quarter valued at approximately $25,258,000. Magnetar Financial LLC lifted its stake in shares of Organon & Co. by 560.2% in the 4th quarter. Magnetar Financial LLC now owns 1,734,434 shares of the company's stock valued at $25,878,000 after purchasing an additional 1,471,731 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Organon & Co. in the 4th quarter valued at $11,892,000. Dimensional Fund Advisors LP boosted its holdings in Organon & Co. by 23.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,284,408 shares of the company's stock worth $48,999,000 after purchasing an additional 629,191 shares in the last quarter. Finally, Invesco Ltd. increased its position in Organon & Co. by 44.6% during the fourth quarter. Invesco Ltd. now owns 2,034,780 shares of the company's stock worth $30,359,000 after buying an additional 627,944 shares during the last quarter. Institutional investors own 77.43% of the company's stock.

Organon & Co. Stock Performance

NYSE:OGN traded down $0.08 during mid-day trading on Friday, hitting $9.94. 3,566,519 shares of the company's stock traded hands, compared to its average volume of 3,580,804. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 3.45, a price-to-earnings-growth ratio of 1.01 and a beta of 0.60. The firm has a 50 day moving average of $9.44 and a two-hundred day moving average of $12.74. The company has a current ratio of 1.67, a quick ratio of 1.15 and a debt-to-equity ratio of 16.49. Organon & Co. has a 12 month low of $8.01 and a 12 month high of $23.10.

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, topping the consensus estimate of $0.89 by $0.13. Organon & Co. had a net margin of 11.92% and a return on equity of 227.43%. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the company posted $1.22 earnings per share. Organon & Co.'s quarterly revenue was down 6.7% on a year-over-year basis. On average, equities analysts forecast that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Monday, May 12th were paid a $0.02 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.80%. Organon & Co.'s payout ratio is 2.78%.

Wall Street Analyst Weigh In

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

Insider Transactions at Organon & Co.

In other Organon & Co. news, CEO Kevin Ali purchased 34,000 shares of the stock in a transaction 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 acquisition, the chief executive officer directly owned 282,731 shares of the company's stock, valued at $2,488,032.80. This represents a 13.67% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Kirke Weaver acquired 8,045 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were bought at an average cost of $9.21 per share, for a total transaction of $74,094.45. Following the completion of the acquisition, the insider directly owned 52,489 shares of the company's stock, valued at approximately $483,423.69. This represents a 18.10% increase in their position. The disclosure for this purchase can be found here. Insiders bought 102,345 shares of company stock valued at $902,430 in the last ninety days. 1.96% of the stock is owned by company insiders.

Organon & Co. Company 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.