Principal Financial Group Inc. Invests $229,000 in Stagwell Inc. (NASDAQ:STGW)

Principal Financial Group Inc. acquired a new position in Stagwell Inc. (NASDAQ:STGW) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 32,557 shares of the company’s stock, valued at approximately $229,000.

Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position in shares of Stagwell by 14.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 508,930 shares of the company’s stock worth $3,471,000 after purchasing an additional 64,867 shares during the period. Rhumbline Advisers raised its stake in Stagwell by 4.0% during the second quarter. Rhumbline Advisers now owns 142,375 shares of the company’s stock worth $971,000 after buying an additional 5,461 shares during the last quarter. American Century Companies Inc. lifted its holdings in Stagwell by 15.7% in the second quarter. American Century Companies Inc. now owns 122,589 shares of the company’s stock valued at $836,000 after buying an additional 16,600 shares during the period. Dimensional Fund Advisors LP boosted its position in Stagwell by 9.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,516,844 shares of the company’s stock valued at $10,344,000 after acquiring an additional 127,099 shares during the last quarter. Finally, Hsbc Holdings PLC grew its holdings in Stagwell by 25.1% during the 2nd quarter. Hsbc Holdings PLC now owns 16,757 shares of the company’s stock worth $114,000 after acquiring an additional 3,360 shares during the period. 35.61% of the stock is currently owned by institutional investors.

Stagwell Stock Down 1.4 %

Shares of NASDAQ:STGW opened at $6.41 on Tuesday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.95 and a current ratio of 0.95. Stagwell Inc. has a 52-week low of $4.88 and a 52-week high of $8.18. The business’s 50 day simple moving average is $7.22 and its two-hundred day simple moving average is $6.97. The firm has a market cap of $1.69 billion, a P/E ratio of 21.57 and a beta of 1.46.

Analyst Ratings Changes

STGW has been the topic of a number of recent analyst reports. Benchmark boosted their price objective on Stagwell from $8.50 to $9.50 and gave the company a “buy” rating in a research note on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and issued a $7.50 price target on shares of Stagwell in a research note on Monday, October 21st. Finally, Rosenblatt Securities raised their price objective on shares of Stagwell from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Stagwell presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.50.

Stagwell Company Profile

Stagwell Inc provides digital transformation, performance media and data, consumer insights and strategy, and creativity and communications services. The company operates through three segments: Integrated Agencies Network, Brand Performance Network, and Communications Network. It designs and builds digital platforms and experiences that support the delivery of content, commerce, service, and sales; creates websites, mobile applications, back-end systems, content and data management systems, and other digital environments; designs and implements technology and data strategies; and develops software and related technology products, including artificial intelligence (AI)-enabled communications, research, and media technology, cookie-less data platforms for advance targeting and activation, software tools for e-commerce applications, specialty media solutions in the augmented reality space, and text messaging applications for consumer engagement.