Principle Wealth Partners LLC Raises Stock Holdings in Organon & Co. (NYSE:OGN)

Principle Wealth Partners LLC boosted its holdings in Organon & Co. (NYSE:OGN) by 88.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,459 shares of the company’s stock after buying an additional 10,087 shares during the quarter. Principle Wealth Partners LLC’s holdings in Organon & Co. were worth $309,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. AE Wealth Management LLC purchased a new stake in shares of Organon & Co. during the 3rd quarter valued at about $305,000. Exchange Traded Concepts LLC purchased a new stake in shares of Organon & Co. during the 3rd quarter valued at about $165,000. Czech National Bank increased its position in shares of Organon & Co. by 47.9% during the 3rd quarter. Czech National Bank now owns 44,668 shares of the company’s stock valued at $775,000 after purchasing an additional 14,474 shares during the last quarter. Denali Advisors LLC increased its position in shares of Organon & Co. by 279.4% during the 3rd quarter. Denali Advisors LLC now owns 7,247 shares of the company’s stock valued at $126,000 after purchasing an additional 5,337 shares during the last quarter. Finally, Bfsg LLC purchased a new stake in shares of Organon & Co. during the 3rd quarter valued at about $180,000. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Organon & Co. Stock Up 0.7 %

Shares of OGN opened at $18.55 on Monday. The company has a market cap of $4.77 billion, a PE ratio of 4.64, a P/E/G ratio of 0.88 and a beta of 0.82. The business has a fifty day moving average of $18.14 and a 200 day moving average of $15.68. Organon & Co. has a 52-week low of $10.84 and a 52-week high of $24.79.

Organon & Co. (NYSE:OGN) last released its earnings results on Thursday, February 15th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.14. Organon & Co. had a negative return on equity of 212.00% and a net margin of 16.33%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. As a group, research analysts anticipate that Organon & Co. will post 4.08 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Monday, February 26th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.12 annualized dividend and a dividend yield of 6.04%. Organon & Co.’s dividend payout ratio (DPR) is 28.00%.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upped their price target on shares of Organon & Co. from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Tuesday, February 20th.

Insider Transactions at Organon & Co.

In other Organon & Co. news, insider Kirke Weaver bought 2,720 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was acquired at an average cost of $18.36 per share, for a total transaction of $49,939.20. Following the completion of the transaction, the insider now owns 15,181 shares in the company, valued at $278,723.16. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.17% of the company’s stock.

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.