AIA Group Ltd Makes New Investment in Packaging Co. of America (NYSE:PKG)

AIA Group Ltd acquired a new stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 7,618 shares of the industrial products company's stock, valued at approximately $1,241,000.

A number of other institutional investors have also recently made changes to their positions in PKG. Federated Hermes Inc. raised its stake in Packaging Co. of America by 263.2% during the fourth quarter. Federated Hermes Inc. now owns 1,195 shares of the industrial products company's stock valued at $195,000 after purchasing an additional 866 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Packaging Co. of America by 6.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 7,929 shares of the industrial products company's stock valued at $1,292,000 after buying an additional 479 shares in the last quarter. Desjardins Global Asset Management Inc. lifted its holdings in shares of Packaging Co. of America by 485.7% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 328 shares of the industrial products company's stock valued at $53,000 after acquiring an additional 272 shares during the last quarter. SVB Wealth LLC purchased a new position in Packaging Co. of America in the fourth quarter worth about $260,000. Finally, Beverly Hills Private Wealth LLC increased its stake in Packaging Co. of America by 17.5% during the fourth quarter. Beverly Hills Private Wealth LLC now owns 10,307 shares of the industrial products company's stock worth $1,679,000 after acquiring an additional 1,537 shares during the last quarter. Hedge funds and other institutional investors own 89.78% of the company's stock.

Packaging Co. of America Trading Up 0.9 %

Shares of NYSE PKG traded up $1.64 during trading hours on Friday, reaching $179.89. The stock had a trading volume of 2,403,205 shares, compared to its average volume of 689,343. The company has a current ratio of 2.57, a quick ratio of 1.77 and a debt-to-equity ratio of 0.62. The business's fifty day moving average price is $180.99 and its two-hundred day moving average price is $167.30. The firm has a market cap of $16.15 billion, a price-to-earnings ratio of 21.05, a P/E/G ratio of 4.30 and a beta of 0.78. Packaging Co. of America has a 52-week low of $122.20 and a 52-week high of $191.27.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its earnings results on Thursday, January 25th. The industrial products company reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.30. The business had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.90 billion. Packaging Co. of America had a return on equity of 20.25% and a net margin of 9.81%. The business's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.35 EPS. Analysts expect that Packaging Co. of America will post 8.31 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date was Thursday, March 14th. Packaging Co. of America's dividend payout ratio (DPR) is 58.96%.

Insider Activity

In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 13,850 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the sale, the vice president now owns 187,647 shares of the company's stock, valued at approximately $33,975,365.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 14,191 shares of Packaging Co. of America stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total value of $2,466,395.80. Following the transaction, the vice president now directly owns 183,930 shares of the company's stock, valued at $31,967,034. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas A. Hassfurther sold 13,850 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $181.06, for a total value of $2,507,681.00. Following the sale, the vice president now owns 187,647 shares of the company's stock, valued at approximately $33,975,365.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,041 shares of company stock worth $6,799,177. 1.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on PKG. Truist Financial lifted their target price on Packaging Co. of America from $170.00 to $187.00 and gave the stock a "buy" rating in a report on Thursday, January 4th. Seaport Res Ptn downgraded shares of Packaging Co. of America from a "buy" rating to a "neutral" rating in a research note on Monday, January 29th. Bank of America raised shares of Packaging Co. of America from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $172.00 to $202.00 in a research note on Monday, March 4th. BNP Paribas downgraded shares of Packaging Co. of America from an "outperform" rating to a "neutral" rating and set a $182.00 price objective for the company. in a research note on Friday, April 12th. Finally, Citigroup boosted their target price on Packaging Co. of America from $172.00 to $183.00 and gave the company a "neutral" rating in a research report on Thursday, April 4th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $171.29.

Packaging Co. of America Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.