Principal Financial Group Inc. Acquires 10,250 Shares of IAC Inc. (NASDAQ:IAC)

Principal Financial Group Inc. boosted its stake in IAC Inc. (NASDAQ:IAC - Free Report) by 3.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 343,391 shares of the company's stock after buying an additional 10,250 shares during the period. Principal Financial Group Inc. owned 0.43% of IAC worth $14,814,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in IAC. Nisa Investment Advisors LLC boosted its position in shares of IAC by 2.7% during the third quarter. Nisa Investment Advisors LLC now owns 15,475 shares of the company's stock worth $833,000 after buying an additional 405 shares during the period. Victory Capital Management Inc. raised its stake in IAC by 1.6% during the 3rd quarter. Victory Capital Management Inc. now owns 31,686 shares of the company's stock valued at $1,705,000 after acquiring an additional 490 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in IAC by 2.8% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 21,913 shares of the company's stock worth $1,179,000 after acquiring an additional 597 shares during the period. KBC Group NV grew its stake in shares of IAC by 22.8% in the fourth quarter. KBC Group NV now owns 3,278 shares of the company's stock worth $141,000 after purchasing an additional 608 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of IAC by 6.7% during the third quarter. Franklin Resources Inc. now owns 10,896 shares of the company's stock valued at $577,000 after purchasing an additional 686 shares during the period. 88.90% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

IAC has been the subject of several research analyst reports. Truist Financial reduced their price objective on shares of IAC from $80.00 to $76.00 and set a "buy" rating for the company in a report on Thursday, February 13th. JMP Securities reduced their price target on shares of IAC from $70.00 to $64.00 and set a "market outperform" rating for the company in a research note on Thursday, February 13th. Benchmark lowered their price objective on shares of IAC from $105.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Barclays dropped their target price on IAC from $66.00 to $61.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. Finally, Piper Sandler lowered IAC from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $68.00 to $54.00 in a research note on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $64.67.

IAC Price Performance

Shares of NASDAQ IAC traded down $0.34 during trading on Friday, hitting $46.22. The company had a trading volume of 1,215,466 shares, compared to its average volume of 903,994. The company has a market cap of $3.72 billion, a P/E ratio of -7.09 and a beta of 1.32. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.75 and a current ratio of 2.80. The business's 50-day moving average is $43.39 and its 200 day moving average is $47.97. IAC Inc. has a 52 week low of $39.61 and a 52 week high of $58.29.

IAC Company Profile

IAC Inc, together with its subsidiaries, operates as a media and internet company worldwide. The company publishes original and engaging digital content in the form of articles, illustrations, and videos and images across entertainment, food, home, beauty, travel, health, family, luxury, and fashion areas; and magazines related to women and lifestyle.