Principal Financial Group Inc. Buys 466,901 Shares of Clear Secure, Inc. (NYSE:YOU)

Principal Financial Group Inc. boosted its holdings in shares of Clear Secure, Inc. (NYSE:YOU - Free Report) by 3,937.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 478,760 shares of the company's stock after acquiring an additional 466,901 shares during the period. Principal Financial Group Inc. owned 0.34% of Clear Secure worth $15,866,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of YOU. Hsbc Holdings PLC boosted its position in shares of Clear Secure by 0.5% in the second quarter. Hsbc Holdings PLC now owns 78,968 shares of the company's stock worth $1,467,000 after purchasing an additional 409 shares during the period. Truist Financial Corp boosted its holdings in shares of Clear Secure by 2.0% in the second quarter. Truist Financial Corp now owns 29,061 shares of the company's stock valued at $544,000 after purchasing an additional 582 shares during the period. Brown Lisle Cummings Inc. increased its holdings in shares of Clear Secure by 11.4% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 8,800 shares of the company's stock valued at $165,000 after acquiring an additional 900 shares during the period. Crossmark Global Holdings Inc. increased its holdings in shares of Clear Secure by 5.3% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 19,988 shares of the company's stock valued at $374,000 after acquiring an additional 1,000 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Clear Secure in the 3rd quarter worth $33,000. 73.80% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Clear Secure

In other news, CAO Dennis W. Liu sold 1,500 shares of Clear Secure stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $31.05, for a total transaction of $46,575.00. Following the completion of the sale, the chief accounting officer now owns 7,211 shares in the company, valued at $223,901.55. The trade was a 17.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Z. Barkin sold 25,000 shares of the firm's stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $28.64, for a total value of $716,000.00. Following the completion of the transaction, the director now owns 7,056 shares in the company, valued at $202,083.84. This represents a 77.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,006,435 shares of company stock valued at $32,173,077. 37.85% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on YOU. Stifel Nicolaus boosted their price target on Clear Secure from $24.00 to $32.00 and gave the company a "hold" rating in a report on Monday, October 28th. Telsey Advisory Group boosted their price target on shares of Clear Secure from $34.00 to $42.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Wedbush restated a "neutral" rating and issued a $26.00 target price (up previously from $24.00) on shares of Clear Secure in a report on Thursday, November 7th. Needham & Company LLC reiterated a "buy" rating and issued a $45.00 price target on shares of Clear Secure in a research report on Friday, November 8th. Finally, The Goldman Sachs Group upped their price objective on shares of Clear Secure from $27.00 to $31.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $32.67.

Clear Secure Stock Down 2.5 %

Shares of Clear Secure stock traded down $0.68 during trading on Friday, hitting $26.23. The stock had a trading volume of 2,755,236 shares, compared to its average volume of 2,677,576. Clear Secure, Inc. has a 1 year low of $16.05 and a 1 year high of $38.88. The company has a market capitalization of $3.65 billion, a PE ratio of 30.50 and a beta of 1.63. The stock has a 50 day simple moving average of $32.83 and a 200 day simple moving average of $25.10.

Clear Secure (NYSE:YOU - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $0.30 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.03). The business had revenue of $198.40 million during the quarter, compared to analyst estimates of $194.62 million. Clear Secure had a net margin of 10.93% and a return on equity of 48.28%. Clear Secure's revenue for the quarter was up 23.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 EPS. As a group, equities analysts expect that Clear Secure, Inc. will post 1.01 earnings per share for the current fiscal year.

Clear Secure Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 10th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Tuesday, December 10th. This is a boost from Clear Secure's previous quarterly dividend of $0.10. Clear Secure's dividend payout ratio (DPR) is presently 46.51%.

About Clear Secure

Clear Secure, Inc operates a secure identity platform under the CLEAR brand name primarily in the United States. Its secure identity platform is a multi-layered infrastructure consisting of front-end, including enrollment, verification, and linking, as well as back-end. The company also offers CLEAR Plus, a consumer aviation subscription service, which enables access to predictable entry lanes in airport security checkpoints, as well as access to broader network; and CLEAR mobile app, which is used to enroll new members and improve the experience for existing members.