Louisiana State Employees Retirement System Invests $1.84 Million in Organon & Co. (NYSE:OGN)

Louisiana State Employees Retirement System purchased a new position in shares of Organon & Co. (NYSE:OGN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 127,900 shares of the company's stock, valued at approximately $1,844,000. Louisiana State Employees Retirement System owned about 0.05% of Organon & Co. as of its most recent SEC filing.

Several other large investors have also modified their holdings of OGN. Nordea Investment Management AB grew its holdings in shares of Organon & Co. by 2,016.0% during the fourth quarter. Nordea Investment Management AB now owns 3,128,810 shares of the company's stock worth $44,648,000 after buying an additional 2,980,945 shares during the last quarter. State Street Corp lifted its position in Organon & Co. by 27.8% during the 1st quarter. State Street Corp now owns 11,958,385 shares of the company's stock worth $417,706,000 after acquiring an additional 2,599,728 shares during the period. Invesco Ltd. grew its stake in shares of Organon & Co. by 23.7% in the 3rd quarter. Invesco Ltd. now owns 10,240,630 shares of the company's stock valued at $177,777,000 after purchasing an additional 1,963,682 shares during the last quarter. Amundi increased its holdings in shares of Organon & Co. by 98.9% in the fourth quarter. Amundi now owns 3,407,333 shares of the company's stock valued at $104,399,000 after purchasing an additional 1,693,968 shares during the period. Finally, Norges Bank acquired a new position in shares of Organon & Co. in the fourth quarter valued at approximately $40,751,000. 77.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Kirke Weaver acquired 2,720 shares of Organon & Co. stock in a transaction that occurred on Thursday, February 22nd. The stock was purchased at an average price of $18.36 per share, for a total transaction of $49,939.20. Following the completion of the purchase, the insider now directly owns 15,181 shares of the company's stock, valued at $278,723.16. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.17% of the company's stock.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group lifted their price objective on shares of Organon & Co. from $16.00 to $18.00 and gave the company a "neutral" rating in a research report on Tuesday, February 20th.

Organon & Co. Price Performance

Shares of OGN stock traded down $0.04 during trading hours on Friday, reaching $17.82. 3,612,200 shares of the company's stock were exchanged, compared to its average volume of 2,774,930. The company's 50 day moving average is $18.00 and its two-hundred day moving average is $15.62. The company has a market cap of $4.56 billion, a P/E ratio of 4.47, a price-to-earnings-growth ratio of 0.85 and a beta of 0.83. Organon & Co. has a 1 year low of $10.84 and a 1 year high of $24.79.

Organon & Co. (NYSE:OGN - Get Free Report) last announced its quarterly earnings data on Thursday, February 15th. The company reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.14. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.55 billion. Organon & Co. had a negative return on equity of 212.00% and a net margin of 16.33%. As a group, analysts predict that Organon & Co. will post 4.08 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Monday, February 26th were paid a dividend of $0.28 per share. The ex-dividend date was Friday, February 23rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.29%. Organon & Co.'s dividend payout ratio (DPR) is presently 28.00%.

Organon & Co. Company Profile

Organon & Co develops and delivers health solutions through a portfolio of prescription therapies and medical devices within women's health in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon, a long-acting reversible contraceptive; NuvaRing, a monthly vaginal contraceptive ring; Cerazette, a daily pill used to prevent pregnancy; Marvelon, progestin and estrogen used as daily pills to prevent pregnancy; Follistim AQ, used to promote the development of multiple ovarian follicles in assisted reproduction technology procedures; Elonva, an ovarian follicle stimulant; Ganirelix Acetate Injection, an injectable antagonist; and Jada, for abnormal postpartum uterine bleeding or hemorrhage.