Principal Financial Group Inc. Raises Stake in Trip.com Group Limited (NASDAQ:TCOM)

Principal Financial Group Inc. boosted its holdings in Trip.com Group Limited (NASDAQ:TCOM - Free Report) by 139.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 131,407 shares of the company's stock after buying an additional 76,624 shares during the period. Principal Financial Group Inc.'s holdings in Trip.com Group were worth $7,810,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Capital World Investors increased its stake in shares of Trip.com Group by 27.5% during the 1st quarter. Capital World Investors now owns 48,971,654 shares of the company's stock worth $2,149,366,000 after purchasing an additional 10,576,028 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in shares of Trip.com Group by 4,800.0% during the second quarter. 1832 Asset Management L.P. now owns 1,399,298 shares of the company's stock worth $65,767,000 after buying an additional 1,370,741 shares in the last quarter. Marshall Wace LLP lifted its position in Trip.com Group by 89.6% in the second quarter. Marshall Wace LLP now owns 1,703,234 shares of the company's stock valued at $80,052,000 after buying an additional 804,885 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of Trip.com Group by 155.1% during the third quarter. New York State Common Retirement Fund now owns 1,145,863 shares of the company's stock worth $68,099,000 after buying an additional 696,766 shares during the period. Finally, Ariose Capital Management Ltd grew its position in shares of Trip.com Group by 680.1% during the second quarter. Ariose Capital Management Ltd now owns 540,630 shares of the company's stock worth $25,410,000 after acquiring an additional 471,330 shares during the last quarter. Institutional investors and hedge funds own 35.41% of the company's stock.

Trip.com Group Stock Up 3.3 %

Shares of TCOM stock traded up $2.05 during trading hours on Wednesday, reaching $64.79. The company had a trading volume of 4,488,301 shares, compared to its average volume of 4,046,274. The company has a market cap of $41.73 billion, a price-to-earnings ratio of 18.78 and a beta of 0.39. The business has a fifty day simple moving average of $59.93 and a 200-day simple moving average of $52.28. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.32 and a quick ratio of 1.32. Trip.com Group Limited has a 12 month low of $31.55 and a 12 month high of $69.67.

Trip.com Group (NASDAQ:TCOM - Get Free Report) last posted its quarterly earnings results on Monday, August 26th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.22. Trip.com Group had a net margin of 28.78% and a return on equity of 11.52%. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. On average, research analysts expect that Trip.com Group Limited will post 2.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TCOM has been the subject of several analyst reports. HSBC raised shares of Trip.com Group from a "hold" rating to a "buy" rating and set a $75.00 target price for the company in a research note on Tuesday. Benchmark raised their price objective on Trip.com Group from $72.00 to $80.00 and gave the company a "buy" rating in a research note on Tuesday. Macquarie lifted their price objective on Trip.com Group from $75.40 to $80.80 and gave the stock an "outperform" rating in a research note on Wednesday. Sanford C. Bernstein started coverage on Trip.com Group in a report on Monday, November 4th. They set an "outperform" rating and a $85.00 target price on the stock. Finally, Barclays increased their price target on Trip.com Group from $76.00 to $84.00 and gave the stock an "overweight" rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Trip.com Group currently has an average rating of "Moderate Buy" and an average price target of $74.18.

Trip.com Group Company Profile

Trip.com Group Limited, through its subsidiaries, operates as a travel service provider for accommodation reservation, transportation ticketing, packaged tours and in-destination, corporate travel management, and other travel-related services in China and internationally. The company acts as an agent for hotel-related transactions and selling air tickets, as well as provides train, long-distance bus, and ferry tickets; travel insurance products, such as flight delay, air accident, and baggage loss coverage; and air-ticket delivery, online check-in and seat selection, express security screening, real-time flight status tracker, and airport VIP lounge services.