Principal Financial Group Inc. Lowers Position in Organon & Co. (NYSE:OGN)

Principal Financial Group Inc. trimmed its stake in shares of Organon & Co. (NYSE:OGN - Free Report) by 55.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,216,312 shares of the company's stock after selling 1,515,328 shares during the period. Principal Financial Group Inc. owned about 0.47% of Organon & Co. worth $23,268,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV raised its position in shares of Organon & Co. by 1.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 31,086 shares of the company's stock worth $674,000 after acquiring an additional 546 shares during the period. Ballentine Partners LLC raised its holdings in Organon & Co. by 3.0% in the 2nd quarter. Ballentine Partners LLC now owns 19,105 shares of the company's stock worth $395,000 after purchasing an additional 552 shares during the period. Sippican Capital Advisors boosted its position in Organon & Co. by 4.3% during the third quarter. Sippican Capital Advisors now owns 15,230 shares of the company's stock worth $291,000 after purchasing an additional 627 shares in the last quarter. Commerce Bank boosted its position in Organon & Co. by 5.5% during the third quarter. Commerce Bank now owns 12,168 shares of the company's stock worth $233,000 after purchasing an additional 637 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in Organon & Co. by 6.6% in the second quarter. Signaturefd LLC now owns 11,308 shares of the company's stock valued at $234,000 after purchasing an additional 698 shares during the period. 77.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OGN has been the subject of several research analyst reports. Evercore ISI raised Organon & Co. to a "strong-buy" rating in a research note on Wednesday, September 18th. JPMorgan Chase & Co. downgraded shares of Organon & Co. from a "neutral" rating to an "underweight" rating and increased their price objective for the company from $18.00 to $20.00 in a report on Friday, September 6th.

Organon & Co. Price Performance

Shares of Organon & Co. stock traded up $0.22 on Thursday, hitting $14.95. 2,198,296 shares of the company were exchanged, compared to its average volume of 2,446,618. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. The company has a 50-day moving average price of $15.86 and a 200 day moving average price of $18.80. The stock has a market capitalization of $3.85 billion, a price-to-earnings ratio of 2.97, a price-to-earnings-growth ratio of 0.81 and a beta of 0.75. Organon & Co. has a 1-year low of $13.65 and a 1-year high of $23.10.

Organon & Co. (NYSE:OGN - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.87 earnings per share for the quarter, missing analysts' consensus estimates of $0.90 by ($0.03). Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period last year, the firm posted $0.78 EPS. The business's quarterly revenue was up 4.1% on a year-over-year basis. As a group, sell-side analysts predict that Organon & Co. will post 3.89 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th were issued a $0.28 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $1.12 annualized dividend and a yield of 7.49%. Organon & Co.'s payout ratio is 22.22%.

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.