Principal Financial Group Inc. Has $7.26 Million Stake in Paramount Global (NASDAQ:PARA)

Principal Financial Group Inc. lifted its position in shares of Paramount Global (NASDAQ:PARA - Free Report) by 22.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 683,401 shares of the company's stock after buying an additional 124,740 shares during the quarter. Principal Financial Group Inc. owned about 0.10% of Paramount Global worth $7,258,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its holdings in Paramount Global by 6.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,724,532 shares of the company's stock valued at $38,698,000 after purchasing an additional 225,191 shares during the period. Allspring Global Investments Holdings LLC grew its position in Paramount Global by 7.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 26,514 shares of the company's stock worth $275,000 after buying an additional 1,832 shares in the last quarter. Panagora Asset Management Inc. increased its stake in Paramount Global by 25.9% during the 2nd quarter. Panagora Asset Management Inc. now owns 63,204 shares of the company's stock worth $657,000 after acquiring an additional 13,022 shares during the period. Signaturefd LLC lifted its position in shares of Paramount Global by 80.5% during the 2nd quarter. Signaturefd LLC now owns 11,580 shares of the company's stock valued at $120,000 after acquiring an additional 5,166 shares during the period. Finally, Spire Wealth Management grew its holdings in shares of Paramount Global by 218.3% during the 2nd quarter. Spire Wealth Management now owns 26,724 shares of the company's stock worth $278,000 after purchasing an additional 18,327 shares in the last quarter. Institutional investors own 73.00% of the company's stock.

Paramount Global Trading Up 1.2 %

PARA traded up $0.12 during trading on Wednesday, reaching $10.46. 9,554,571 shares of the company's stock were exchanged, compared to its average volume of 14,371,686. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. Paramount Global has a one year low of $9.54 and a one year high of $15.70. The firm has a fifty day moving average price of $10.84 and a two-hundred day moving average price of $10.76. The stock has a market capitalization of $6.98 billion, a PE ratio of -1.27, a price-to-earnings-growth ratio of 1.35 and a beta of 1.71.

Paramount Global (NASDAQ:PARA - Get Free Report) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.25. The company had revenue of $6.73 billion for the quarter, compared to analysts' expectations of $6.94 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. Paramount Global's revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 earnings per share. As a group, equities research analysts forecast that Paramount Global will post 1.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Paramount Global in a research note on Monday, November 11th. Guggenheim dropped their target price on shares of Paramount Global from $19.00 to $14.00 and set a "buy" rating for the company in a research report on Wednesday, September 25th. StockNews.com upgraded shares of Paramount Global from a "sell" rating to a "hold" rating in a research report on Monday, November 11th. Finally, Macquarie restated an "underperform" rating and set a $10.00 price objective on shares of Paramount Global in a research report on Monday, November 11th. Seven equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $12.43.

Paramount Global Company Profile

Paramount Global operates as a media, streaming, and entertainment company worldwide. It operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. The TV Media segment operates CBS Television Network, a domestic broadcast television network; CBS Stations, a television station; and international free-to-air networks comprising Network 10, Channel 5, Telefe, and Chilevisión; domestic premium and basic cable networks, such as Paramount+ with Showtime, MTV, Comedy Central, Paramount Network, The Smithsonian Channel, Nickelodeon, BET Media Group, and CBS Sports Network; and international extensions of these brands.