Principal Financial Group Inc. Reduces Holdings in Astrazeneca Plc $AZN

Key Points

• Principal Financial Group trimmed its AstraZeneca stake by 4.2% in Q4, selling 49,609 shares and leaving it with 1,125,252 shares valued at $103,445,000.
• AstraZeneca beat quarterly estimates with $2.58 EPS versus $2.52 expected and $15.29B in revenue versus $14.93B, and the stock was up about 2.1% (market cap $286.86B).
• Analysts have been mostly positive, with several brokerages upgrading the stock to "buy," a consensus rating of Moderate Buy and an average price target of $205.33.

Principal Financial Group Inc. lessened its holdings in shares of Astrazeneca Plc (NYSE:AZN - Free Report) by 4.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,125,252 shares of the company's stock after selling 49,609 shares during the quarter. Principal Financial Group Inc.'s holdings in Astrazeneca were worth $103,445,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of AZN. Triumph Capital Management acquired a new stake in Astrazeneca in the 3rd quarter valued at about $25,000. Bangor Savings Bank increased its holdings in shares of Astrazeneca by 102.7% in the fourth quarter. Bangor Savings Bank now owns 304 shares of the company's stock valued at $28,000 after purchasing an additional 154 shares during the last quarter. Eagle Bay Advisors LLC acquired a new position in Astrazeneca during the fourth quarter worth $30,000. Rakuten Investment Management Inc. purchased a new stake in Astrazeneca in the 3rd quarter valued at $31,000. Finally, YANKCOM Partnership purchased a new position in shares of Astrazeneca during the 4th quarter worth $31,000. 20.35% of the stock is owned by hedge funds and other institutional investors.

Astrazeneca Stock Up 2.1%

Astrazeneca stock opened at $184.97 on Thursday. The company has a market capitalization of $286.86 billion, a PE ratio of 27.77, a price-to-earnings-growth ratio of 1.49 and a beta of 0.26. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.71 and a current ratio of 0.91. Astrazeneca Plc has a fifty-two week low of $132.32 and a fifty-two week high of $212.71. The firm has a 50 day moving average price of $195.12 and a 200 day moving average price of $180.73.

Astrazeneca (NYSE:AZN - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported $2.58 EPS for the quarter, topping analysts' consensus estimates of $2.52 by $0.06. Astrazeneca had a return on equity of 30.86% and a net margin of 17.19%.The company had revenue of $15.29 billion for the quarter, compared to analysts' expectations of $14.93 billion. Research analysts expect that Astrazeneca Plc will post 10.26 earnings per share for the current year.

Astrazeneca Dividend Announcement

The company also recently announced a dividend, which was paid on Monday, March 23rd. Investors of record on Friday, February 20th were issued a dividend of $1.595 per share. This represents a yield of 156.0%. The ex-dividend date was Friday, February 20th. Astrazeneca's dividend payout ratio (DPR) is 65.17%.

Analyst Ratings Changes

A number of brokerages recently issued reports on AZN. Jefferies Financial Group reissued a "buy" rating on shares of Astrazeneca in a report on Thursday, April 30th. Morgan Stanley reaffirmed an "overweight" rating on shares of Astrazeneca in a research report on Wednesday, April 8th. Weiss Ratings began coverage on Astrazeneca in a research report on Wednesday, March 11th. They issued a "buy (b)" rating for the company. Barclays raised Astrazeneca from a "neutral" rating to a "buy" rating in a research note on Wednesday, April 29th. Finally, DZ Bank upgraded Astrazeneca from a "neutral" rating to a "buy" rating in a report on Wednesday, April 29th. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $205.33.

Astrazeneca Profile

AstraZeneca plc is a global biopharmaceutical company headquartered in Cambridge, England. Formed through the 1999 merger of Sweden’s Astra AB and the UK’s Zeneca Group, the company researches, develops, manufactures and commercializes prescription medicines across a range of therapeutic areas. AstraZeneca positions itself as R&D-driven, investing in discovery science, clinical development and regulatory processes to bring new therapies to market.

The company’s commercial portfolio and late-stage pipeline emphasize oncology, cardiovascular, renal and metabolic (CVRM) diseases, and respiratory and immunology.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.