Organon & Co. (NYSE:OGN) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings 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 quarter. Principal Financial Group Inc. owned approximately 0.47% of Organon & Co. worth $23,268,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Versant Capital Management Inc lifted its position in shares of Organon & Co. by 200.2% during the second quarter. Versant Capital Management Inc now owns 1,207 shares of the company's stock valued at $25,000 after buying an additional 805 shares during the last quarter. William B. Walkup & Associates Inc. acquired a new stake in Organon & Co. in the second quarter valued at approximately $31,000. Abich Financial Wealth Management LLC grew its holdings in Organon & Co. by 5,646.3% in the third quarter. Abich Financial Wealth Management LLC now owns 2,356 shares of the company's stock worth $45,000 after purchasing an additional 2,315 shares during the last quarter. Atlas Capital Advisors LLC grew its holdings in Organon & Co. by 2,236.5% in the second quarter. Atlas Capital Advisors LLC now owns 2,243 shares of the company's stock worth $46,000 after purchasing an additional 2,147 shares during the last quarter. Finally, Trust Co. of Vermont increased its position in shares of Organon & Co. by 109.4% during the third quarter. Trust Co. of Vermont now owns 2,626 shares of the company's stock worth $50,000 after purchasing an additional 1,372 shares in the last quarter. 77.43% of the stock is owned by hedge funds and other institutional investors.

Organon & Co. Stock Performance

Shares of OGN traded down $0.22 during mid-day trading on Thursday, reaching $15.39. The company had a trading volume of 1,061,990 shares, compared to its average volume of 2,245,297. The stock has a market capitalization of $3.96 billion, a P/E ratio of 3.10, a PEG ratio of 0.73 and a beta of 0.84. Organon & Co. has a 52-week low of $10.84 and a 52-week high of $23.10. The stock has a 50 day moving average of $18.37 and a two-hundred day moving average of $19.99. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73.

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

Organon & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 7.28%. The ex-dividend date is Tuesday, November 12th. Organon & Co.'s payout ratio is currently 22.22%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. downgraded Organon & Co. from a "neutral" rating to an "underweight" rating and raised their price target for the stock from $18.00 to $20.00 in a report on Friday, September 6th. Evercore ISI upgraded shares of Organon & Co. to a "strong-buy" rating in a research note on Wednesday, September 18th.

About Organon & Co.

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.