Principal Financial Group Inc. Grows Stock Holdings in Comcast Corporation $CMCSA

Key Points

• Principal Financial Group increased its Comcast stake by 1.0% in the first quarter, buying 47,015 additional shares and bringing its total holdings to 4,883,203 shares valued at about $140.2 million.
• Comcast reported better-than-expected quarterly results, with EPS of $0.79 versus $0.73 expected and revenue of $31.46 billion versus $30.42 billion estimated. Revenue rose 5.3% year over year.
• The company announced a quarterly dividend of $0.33 per share, implying an annualized yield of 5.6%, while analysts currently rate the stock a consensus “Hold” with a $33.64 price target.

Principal Financial Group Inc. lifted its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 1.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,883,203 shares of the cable giant's stock after acquiring an additional 47,015 shares during the quarter. Principal Financial Group Inc. owned 0.14% of Comcast worth $140,197,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Lowe Brockenbrough & Co. Inc. grew its position in Comcast by 4.9% during the 4th quarter. Lowe Brockenbrough & Co. Inc. now owns 7,532 shares of the cable giant's stock worth $225,000 after purchasing an additional 352 shares during the period. Cora Capital Advisors LLC lifted its holdings in shares of Comcast by 3.4% in the 4th quarter. Cora Capital Advisors LLC now owns 11,013 shares of the cable giant's stock valued at $329,000 after buying an additional 362 shares during the period. Oakworth Capital Inc. lifted its holdings in shares of Comcast by 7.4% in the 4th quarter. Oakworth Capital Inc. now owns 5,479 shares of the cable giant's stock valued at $164,000 after buying an additional 377 shares during the period. WPG Advisers LLC boosted its stake in shares of Comcast by 15.9% in the fourth quarter. WPG Advisers LLC now owns 2,801 shares of the cable giant's stock worth $84,000 after buying an additional 384 shares during the last quarter. Finally, Addison Advisors LLC grew its holdings in Comcast by 55.7% during the fourth quarter. Addison Advisors LLC now owns 1,074 shares of the cable giant's stock worth $32,000 after acquiring an additional 384 shares during the period. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Stock Performance

NASDAQ CMCSA opened at $23.49 on Thursday. The stock has a market capitalization of $83.91 billion, a price-to-earnings ratio of 4.62, a PEG ratio of 1.91 and a beta of 0.67. The stock has a 50-day moving average of $24.08 and a 200 day moving average of $27.57. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.01. Comcast Corporation has a twelve month low of $22.13 and a twelve month high of $36.01.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, beating the consensus estimate of $0.73 by $0.06. The company had revenue of $31.46 billion for the quarter, compared to analyst estimates of $30.42 billion. Comcast had a return on equity of 15.47% and a net margin of 15.00%.Comcast's quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $1.09 earnings per share. Sell-side analysts anticipate that Comcast Corporation will post 3.49 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 1st will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $1.32 dividend on an annualized basis and a yield of 5.6%. Comcast's dividend payout ratio (DPR) is currently 25.98%.

Wall Street Analysts Forecast Growth

CMCSA has been the subject of several recent research reports. Weiss Ratings reiterated a "hold (c-)" rating on shares of Comcast in a research report on Monday, July 6th. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $28.00 price objective on shares of Comcast in a research note on Monday. BNP Paribas Exane cut their target price on shares of Comcast from $25.00 to $22.00 and set an "underperform" rating for the company in a report on Tuesday. Royal Bank Of Canada boosted their target price on shares of Comcast from $31.00 to $32.00 and gave the company a "sector perform" rating in a research note on Friday, April 24th. Finally, UBS Group reissued a "neutral" rating on shares of Comcast in a report on Tuesday, June 23rd. Eleven analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $33.64.

Comcast News Roundup

Here are the key news stories impacting Comcast this week:

• Negative Sentiment: Scotiabank lowered its price target on Comcast to $32.75 from $36 and kept a sector perform rating, signaling more cautious near-term expectations. Scotiabank cuts Comcast target
• Negative Sentiment: Wells Fargo trimmed its price target to $28 from $29 and maintained an underweight rating, suggesting the firm still sees limited upside. Wells Fargo view on Comcast
• Negative Sentiment: BNP Paribas Exane cut its target to $22 from $25 and reiterated an underperform rating, adding to the bearish analyst sentiment around CMCSA. BNP Paribas Exane cuts Comcast target
• Negative Sentiment: Comcast agreed to a $117.5 million settlement over the Xfinity data breach, which adds legal, reputational, and governance overhangs for investors. Xfinity data breach settlement
• Negative Sentiment: Bernstein cut price targets across major telecom names, including Comcast, citing valuation risk tied to SpaceX/Starlink’s potential direct-to-consumer mobile plans. Bernstein cuts telecom targets
• Neutral Sentiment: Some recent commentary argues Comcast may be trading below fair value after a roughly 49% five-year slide, which could support a rebound if fundamentals stabilize. Fair value article
• Neutral Sentiment: One market update noted Comcast has recently outperformed the broader market, but the move appears modest and does not offset the more prominent analyst and legal concerns. Market performance article

About Comcast

Comcast Corporation NASDAQ: CMCSA is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal's assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.

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