Principal Financial Group Inc. Acquires Shares of 2,409,952 Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT)

Principal Financial Group Inc. acquired a new stake in Atour Lifestyle Holdings Limited Sponsored ADR (NASDAQ:ATAT - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 2,409,952 shares of the company's stock, valued at approximately $68,322,000. Principal Financial Group Inc. owned 1.75% of Atour Lifestyle as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. increased its stake in shares of Atour Lifestyle by 3.8% during the 4th quarter. American Century Companies Inc. now owns 62,772 shares of the company's stock worth $1,688,000 after purchasing an additional 2,321 shares during the last quarter. Jump Financial LLC increased its stake in shares of Atour Lifestyle by 1.5% during the 4th quarter. Jump Financial LLC now owns 180,409 shares of the company's stock worth $4,851,000 after purchasing an additional 2,620 shares during the last quarter. Invesco Ltd. increased its stake in shares of Atour Lifestyle by 5.4% during the 4th quarter. Invesco Ltd. now owns 67,117 shares of the company's stock worth $1,805,000 after purchasing an additional 3,437 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Atour Lifestyle by 6.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 66,702 shares of the company's stock worth $1,794,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Pictet Asset Management Holding SA acquired a new position in shares of Atour Lifestyle during the 4th quarter worth $155,000. Institutional investors and hedge funds own 17.79% of the company's stock.

Atour Lifestyle Trading Down 0.8%

ATAT stock traded down $0.29 during trading on Tuesday, hitting $35.25. 2,934,232 shares of the stock traded hands, compared to its average volume of 1,294,349. Atour Lifestyle Holdings Limited Sponsored ADR has a one year low of $15.22 and a one year high of $35.97. The stock has a market cap of $4.87 billion, a price-to-earnings ratio of 27.98, a P/E/G ratio of 1.02 and a beta of 0.82. The company has a 50 day simple moving average of $30.73 and a 200 day simple moving average of $28.60.

Atour Lifestyle Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Wednesday, June 18th. Shareholders of record on Monday, June 2nd were given a $0.42 dividend. This represents a yield of 1.3%. The ex-dividend date of this dividend was Monday, June 2nd. This is a boost from Atour Lifestyle's previous annual dividend of $0.40. Atour Lifestyle's dividend payout ratio (DPR) is presently 30.95%.

Atour Lifestyle announced that its board has authorized a stock repurchase plan on Thursday, May 22nd that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ATAT. Wall Street Zen raised shares of Atour Lifestyle from a "hold" rating to a "buy" rating in a report on Friday, June 27th. Bank of America raised their price objective on shares of Atour Lifestyle from $35.30 to $36.80 and gave the stock a "buy" rating in a report on Friday, March 14th. Finally, Citigroup reaffirmed a "buy" rating and set a $38.00 price objective (up from $36.50) on shares of Atour Lifestyle in a report on Friday, May 23rd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $36.63.

About Atour Lifestyle

Atour Lifestyle Holdings Limited, through its subsidiaries, develops lifestyle brands around hotel offerings in the People's Republic of China. The company provides hotel management services, including day-to-day management services of the hotels for the franchisees; and sells hotel supplies and other products.