Principal Financial Group Inc. Trims Stock Holdings in TKO Group Holdings, Inc. (NYSE:TKO)

Principal Financial Group Inc. trimmed its stake in shares of TKO Group Holdings, Inc. (NYSE:TKO - Free Report) by 4.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,039,803 shares of the company's stock after selling 43,983 shares during the period. Principal Financial Group Inc. owned about 0.61% of TKO Group worth $158,892,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TKO. Proficio Capital Partners LLC purchased a new stake in shares of TKO Group during the 4th quarter worth about $2,948,000. US Bancorp DE lifted its stake in TKO Group by 18.0% in the 4th quarter. US Bancorp DE now owns 565 shares of the company's stock valued at $80,000 after buying an additional 86 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in TKO Group by 559.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 178 shares of the company's stock valued at $26,000 after buying an additional 151 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in TKO Group in the 4th quarter worth about $38,000. Finally, Steward Partners Investment Advisory LLC increased its stake in TKO Group by 20.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,118 shares of the company's stock worth $159,000 after buying an additional 188 shares in the last quarter. Institutional investors and hedge funds own 89.79% of the company's stock.

TKO Group Stock Down 0.5%

Shares of TKO traded down $0.86 during mid-day trading on Friday, reaching $176.60. The company's stock had a trading volume of 405,893 shares, compared to its average volume of 1,124,997. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.25 and a quick ratio of 1.25. TKO Group Holdings, Inc. has a 12-month low of $102.46 and a 12-month high of $182.60. The stock has a market cap of $34.95 billion, a PE ratio of 89.64 and a beta of 0.73. The company's 50 day moving average is $166.22 and its 200 day moving average is $155.95.

TKO Group (NYSE:TKO - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.14. The firm had revenue of $1.27 billion during the quarter, compared to analysts' expectations of $1.07 billion. TKO Group had a net margin of 4.98% and a return on equity of 2.52%. TKO Group's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.26) earnings per share. Equities analysts anticipate that TKO Group Holdings, Inc. will post 3.88 EPS for the current fiscal year.

TKO Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a dividend of $0.38 per share. The ex-dividend date was Friday, June 13th. This represents a $1.52 annualized dividend and a dividend yield of 0.86%. TKO Group's dividend payout ratio (DPR) is 77.16%.

Insider Buying and Selling

In other TKO Group news, major shareholder Lake West Voteco L.L.C Silver acquired 1,579,080 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was purchased at an average price of $158.32 per share, for a total transaction of $249,999,945.60. Following the completion of the transaction, the insider owned 4,158,517 shares of the company's stock, valued at $658,376,411.44. The trade was a 61.22% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nick Khan sold 9,519 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $158.46, for a total transaction of $1,508,380.74. Following the sale, the director owned 210,967 shares in the company, valued at $33,429,830.82. The trade was a 4.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 61.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on TKO. JPMorgan Chase & Co. increased their price objective on shares of TKO Group from $158.00 to $182.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. Guggenheim upped their price target on TKO Group from $175.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, May 9th. The Goldman Sachs Group lifted their price objective on TKO Group from $170.00 to $188.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Susquehanna assumed coverage on TKO Group in a research note on Monday, April 28th. They set a "positive" rating and a $180.00 price objective on the stock. Finally, Sanford C. Bernstein assumed coverage on TKO Group in a report on Wednesday, June 4th. They issued an "outperform" rating and a $190.00 target price for the company. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $168.08.

About TKO Group

TKO Group Holdings, Inc operates as a sports and entertainment company. The company produces and licenses live events, television programs, and long-form and short-form content, reality series, and other filmed entertainment on digital and linear channels and via pay-per-view. It is involved in the merchandising of video games, apparel, equipment, trading cards, memorabilia, digital goods, and toys, as well as sale of travel packages and tickets.