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The Manufacturers Life Insurance Company Cuts Stock Holdings in On Holding AG (NYSE:ONON)

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The Manufacturers Life Insurance Company lowered its stake in shares of On Holding AG (NYSE:ONON - Free Report) by 26.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 438,102 shares of the company's stock after selling 158,428 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.07% of ON worth $21,971,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Ameritas Advisory Services LLC increased its stake in shares of ON by 1.3% during the second quarter. Ameritas Advisory Services LLC now owns 23,806 shares of the company's stock worth $924,000 after acquiring an additional 300 shares during the period. Capital Advisors Inc. OK raised its stake in shares of ON by 5.1% during the 3rd quarter. Capital Advisors Inc. OK now owns 6,186 shares of the company's stock worth $310,000 after buying an additional 301 shares in the last quarter. Artemis Investment Management LLP raised its stake in shares of ON by 1.9% during the 2nd quarter. Artemis Investment Management LLP now owns 16,410 shares of the company's stock worth $637,000 after buying an additional 302 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of ON by 3.2% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 10,423 shares of the company's stock valued at $404,000 after buying an additional 325 shares during the period. Finally, Asset Dedication LLC boosted its stake in shares of ON by 25.8% in the second quarter. Asset Dedication LLC now owns 1,592 shares of the company's stock valued at $62,000 after buying an additional 327 shares in the last quarter. Institutional investors and hedge funds own 33.11% of the company's stock.

ON Stock Up 0.7 %

Shares of ONON stock traded up $0.43 during mid-day trading on Friday, hitting $58.33. 1,290,222 shares of the company's stock were exchanged, compared to its average volume of 4,114,978. The stock has a market cap of $36.73 billion, a price-to-earnings ratio of 135.65 and a beta of 2.25. On Holding AG has a fifty-two week low of $25.78 and a fifty-two week high of $59.19. The stock has a 50-day simple moving average of $51.16 and a two-hundred day simple moving average of $44.97.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Bank of America raised ON from an "underperform" rating to a "neutral" rating and raised their target price for the company from $21.00 to $55.00 in a report on Monday, September 23rd. KeyCorp raised their price objective on shares of ON from $47.00 to $60.00 and gave the company an "overweight" rating in a research note on Thursday, September 26th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $53.00 target price on shares of ON in a report on Tuesday, November 12th. Truist Financial boosted their price target on ON from $58.00 to $61.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Finally, Barclays upped their price target on ON from $47.00 to $63.00 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, ON currently has an average rating of "Moderate Buy" and a consensus price target of $56.05.

View Our Latest Stock Analysis on ONON

ON Company Profile

(Free Report)

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.

Further Reading

Institutional Ownership by Quarter for ON (NYSE:ONON)

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