CANADA LIFE ASSURANCE Co Boosts Stock Position in Iron Mountain Incorporated (NYSE:IRM)

CANADA LIFE ASSURANCE Co increased its position in Iron Mountain Incorporated (NYSE:IRM - Free Report) by 3.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 435,397 shares of the financial services provider's stock after purchasing an additional 15,140 shares during the period. CANADA LIFE ASSURANCE Co owned 0.15% of Iron Mountain worth $45,741,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Key Financial Inc grew its holdings in Iron Mountain by 25,100.0% in the fourth quarter. Key Financial Inc now owns 252 shares of the financial services provider's stock worth $26,000 after purchasing an additional 251 shares during the period. Halbert Hargrove Global Advisors LLC bought a new position in Iron Mountain during the 4th quarter valued at approximately $26,000. IMG Wealth Management Inc. purchased a new position in Iron Mountain during the fourth quarter valued at $26,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in Iron Mountain by 46.4% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 489 shares of the financial services provider's stock worth $51,000 after acquiring an additional 155 shares in the last quarter. Finally, Parkworth Wealth Management Inc. bought a new position in shares of Iron Mountain during the fourth quarter valued at $53,000. Institutional investors own 80.13% of the company's stock.

Iron Mountain Price Performance

Shares of NYSE:IRM traded up $1.51 during trading on Thursday, hitting $85.74. The company's stock had a trading volume of 266,674 shares, compared to its average volume of 2,105,888. The company has a 50-day moving average of $86.40 and a 200-day moving average of $103.70. The firm has a market cap of $25.18 billion, a price-to-earnings ratio of 140.49, a P/E/G ratio of 5.15 and a beta of 0.97. Iron Mountain Incorporated has a 12 month low of $72.33 and a 12 month high of $130.24.

Iron Mountain (NYSE:IRM - Get Free Report) last released its earnings results on Thursday, February 13th. The financial services provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.70). Iron Mountain had a net margin of 2.95% and a negative return on equity of 401.83%. The company had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.60 billion. During the same quarter last year, the firm posted $0.52 earnings per share. As a group, research analysts anticipate that Iron Mountain Incorporated will post 4.54 earnings per share for the current year.

Iron Mountain Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 4th. Shareholders of record on Monday, March 17th were paid a $0.785 dividend. This represents a $3.14 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend was Monday, March 17th. This is a positive change from Iron Mountain's previous quarterly dividend of $0.72. Iron Mountain's dividend payout ratio is presently 514.75%.

Analysts Set New Price Targets

A number of analysts have weighed in on IRM shares. StockNews.com upgraded shares of Iron Mountain from a "sell" rating to a "hold" rating in a research note on Friday, April 18th. JPMorgan Chase & Co. reduced their price target on shares of Iron Mountain from $125.00 to $112.00 and set an "overweight" rating for the company in a research report on Tuesday, February 18th. Barclays cut their target price on Iron Mountain from $130.00 to $118.00 and set an "overweight" rating on the stock in a research note on Thursday, March 20th. Wells Fargo & Company decreased their price target on Iron Mountain from $135.00 to $125.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. Finally, Truist Financial assumed coverage on Iron Mountain in a report on Tuesday, April 8th. They set a "buy" rating and a $95.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $121.29.

Insider Buying and Selling at Iron Mountain

In related news, CEO William L. Meaney sold 69,125 shares of Iron Mountain stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $99.83, for a total transaction of $6,900,748.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mithu Bhargava sold 1,738 shares of Iron Mountain stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.84, for a total transaction of $161,355.92. Following the sale, the executive vice president now owns 13,054 shares in the company, valued at approximately $1,211,933.36. The trade was a 11.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 318,973 shares of company stock valued at $29,370,872 over the last ninety days. 2.10% of the stock is currently owned by company insiders.

About Iron Mountain

Iron Mountain Incorporated NYSE: IRM is a global leader in information management services. Founded in 1951 and trusted by more than 240,000 customers worldwide, Iron Mountain serves to protect and elevate the power of our customers' work. Through a range of offerings including digital transformation, data centers, secure records storage, information management, asset lifecycle management, secure destruction and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.