Principal Financial Group Inc. Decreases Position in Organon & Co. (NYSE:OGN)

Principal Financial Group Inc. cut its holdings in Organon & Co. (NYSE:OGN) by 55.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,216,312 shares of the company’s stock after selling 1,515,328 shares during the period. Principal Financial Group Inc. owned approximately 0.47% of Organon & Co. worth $23,268,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV increased its holdings in shares of Organon & Co. by 1.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 31,086 shares of the company’s stock worth $674,000 after buying an additional 546 shares during the period. Ballentine Partners LLC increased its stake in Organon & Co. by 3.0% in the 2nd quarter. Ballentine Partners LLC now owns 19,105 shares of the company’s stock worth $395,000 after purchasing an additional 552 shares during the period. Sippican Capital Advisors increased its stake in Organon & Co. by 4.3% in the 3rd quarter. Sippican Capital Advisors now owns 15,230 shares of the company’s stock worth $291,000 after purchasing an additional 627 shares during the period. Commerce Bank lifted its position in Organon & Co. by 5.5% in the third quarter. Commerce Bank now owns 12,168 shares of the company’s stock valued at $233,000 after purchasing an additional 637 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Organon & Co. by 6.6% during the second quarter. Signaturefd LLC now owns 11,308 shares of the company’s stock valued at $234,000 after purchasing an additional 698 shares during the period. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Evercore ISI upgraded shares of Organon & Co. to a “strong-buy” rating in a report on Wednesday, September 18th. JPMorgan Chase & Co. downgraded shares of Organon & Co. from a “neutral” rating to an “underweight” rating and upped their price objective for the company from $18.00 to $20.00 in a research note on Friday, September 6th.

Organon & Co. Price Performance

Shares of Organon & Co. stock opened at $14.73 on Thursday. The business has a 50 day moving average of $15.92 and a 200 day moving average of $18.83. Organon & Co. has a 52 week low of $13.65 and a 52 week high of $23.10. The company has a market cap of $3.79 billion, a PE ratio of 2.92, a P/E/G ratio of 0.81 and a beta of 0.75. 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) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.03). The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.56 billion. Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.78 earnings per share. As a group, equities research analysts forecast that Organon & Co. will post 3.89 earnings per share for the current year.

Organon & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th were given a dividend of $0.28 per share. The ex-dividend date was Tuesday, November 12th. This represents a $1.12 annualized dividend and a yield of 7.60%. Organon & Co.’s payout ratio is 22.22%.

Organon & Co. Company Profile

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.