Sumitomo Life Insurance Co. Buys 235 Shares of The Priceline Group Inc. (NASDAQ:PCLN)
Sumitomo Life Insurance Co. increased its stake in shares of The Priceline Group Inc. (NASDAQ:PCLN) by 9.5% during the second quarter, Holdings Channel reports. The fund owned 2,713 shares of the business services provider’s stock after buying an additional 235 shares during the period. Sumitomo Life Insurance Co.’s holdings in The Priceline Group were worth $5,075,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the stock. Hartford Financial Management Inc. acquired a new stake in shares of The Priceline Group during the first quarter valued at approximately $106,000. Capital Advisors Ltd. LLC acquired a new stake in shares of The Priceline Group during the second quarter valued at approximately $112,000. Webster Bank N. A. raised its stake in shares of The Priceline Group by 24.0% in the first quarter. Webster Bank N. A. now owns 62 shares of the business services provider’s stock valued at $110,000 after buying an additional 12 shares during the last quarter. Assetmark Inc. raised its stake in shares of The Priceline Group by 12.5% in the first quarter. Assetmark Inc. now owns 63 shares of the business services provider’s stock valued at $112,000 after buying an additional 7 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC acquired a new stake in shares of The Priceline Group during the first quarter valued at approximately $123,000. 95.01% of the stock is owned by institutional investors.
Shares of The Priceline Group Inc. (PCLN) opened at 1854.17 on Friday. The company’s 50 day moving average price is $1,950.91 and its 200-day moving average price is $1,809.82. The Priceline Group Inc. has a 12 month low of $1,392.44 and a 12 month high of $2,067.99. The stock has a market capitalization of $90.96 billion, a P/E ratio of 39.38 and a beta of 1.42.
The Priceline Group (NASDAQ:PCLN) last issued its quarterly earnings results on Tuesday, August 8th. The business services provider reported $15.14 EPS for the quarter, topping analysts’ consensus estimates of $14.25 by $0.89. The Priceline Group had a return on equity of 33.10% and a net margin of 20.51%. The firm had revenue of $3.02 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same period in the previous year, the firm posted $13.93 EPS. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. Equities analysts predict that The Priceline Group Inc. will post $74.80 earnings per share for the current year.
Several brokerages recently commented on PCLN. Credit Suisse Group restated an “outperform” rating and set a $2,070.00 target price (down previously from $2,150.00) on shares of The Priceline Group in a research report on Wednesday. Needham & Company LLC restated a “buy” rating on shares of The Priceline Group in a research report on Wednesday, June 21st. MKM Partners restated a “buy” rating and set a $2,050.00 target price (up previously from $2,030.00) on shares of The Priceline Group in a research report on Wednesday, May 17th. Stifel Nicolaus restated a “buy” rating and set a $2,100.00 target price on shares of The Priceline Group in a research report on Thursday. Finally, Deutsche Bank AG upped their target price on The Priceline Group from $1,725.00 to $2,000.00 and gave the company a “hold” rating in a research report on Monday, May 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. The Priceline Group currently has an average rating of “Buy” and a consensus price target of $1,909.30.
In other news, CEO Gillian Tans sold 122 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $1,814.00, for a total value of $221,308.00. Following the sale, the chief executive officer now directly owns 6,044 shares of the company’s stock, valued at approximately $10,963,816. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jan L. Docter sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $1,857.67, for a total value of $2,786,505.00. Following the completion of the sale, the director now directly owns 346 shares in the company, valued at $642,753.82. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,744 shares of company stock worth $3,245,648. Insiders own 0.42% of the company’s stock.
About The Priceline Group
The Priceline Group Inc is a provider of travel and restaurant online reservation and related services. The Company, through its online travel companies (OTCs), connects consumers wishing to make travel reservations with providers of travel services across the world. It offers consumers an array of accommodation reservations (including hotels, bed and breakfasts, hostels, apartments, vacation rentals and other properties) through its Booking.com, priceline.com and agoda.com brands.
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