Organon & Co. (NYSE:OGN) Shares Sold by Citigroup Inc.

Citigroup Inc. lowered its position in Organon & Co. (NYSE:OGN – Get Rating) by 5.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 148,861 shares of the company’s stock after selling 7,851 shares during the quarter. Citigroup Inc. owned 0.06% of Organon & Co. worth $4,158,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of OGN. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Organon & Co. by 15.8% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 12,019 shares of the company’s stock valued at $336,000 after acquiring an additional 1,644 shares in the last quarter. Te Ahumairangi Investment Management Ltd lifted its position in shares of Organon & Co. by 9.4% in the 4th quarter. Te Ahumairangi Investment Management Ltd now owns 96,124 shares of the company’s stock valued at $2,685,000 after acquiring an additional 8,265 shares in the last quarter. Belpointe Asset Management LLC purchased a new stake in shares of Organon & Co. in the 4th quarter valued at approximately $28,000. UBS Group AG lifted its position in shares of Organon & Co. by 17.0% in the 4th quarter. UBS Group AG now owns 693,817 shares of the company’s stock valued at $19,378,000 after acquiring an additional 101,023 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Organon & Co. by 10.3% in the 4th quarter. Van ECK Associates Corp now owns 456,242 shares of the company’s stock valued at $12,743,000 after acquiring an additional 42,464 shares in the last quarter. Institutional investors and hedge funds own 75.74% of the company’s stock.

Organon & Co. Stock Down 0.2 %

OGN stock opened at $20.43 on Monday. Organon & Co. has a 12-month low of $20.12 and a 12-month high of $39.09. The company has a market cap of $5.21 billion, a price-to-earnings ratio of 7.00, a PEG ratio of 0.88 and a beta of 0.77. The company has a 50 day moving average of $22.72 and a two-hundred day moving average of $25.72.

Organon & Co. (NYSE:OGN – Get Rating) last announced its quarterly earnings results on Thursday, May 4th. The company reported $1.08 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.10). Organon & Co. had a negative return on equity of 119.00% and a net margin of 12.14%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter last year, the company earned $1.65 EPS. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. On average, research analysts anticipate that Organon & Co. will post 4.22 EPS for the current year.

Organon & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Monday, May 15th will be paid a dividend of $0.28 per share. The ex-dividend date is Friday, May 12th. This represents a $1.12 annualized dividend and a dividend yield of 5.48%. Organon & Co.’s dividend payout ratio (DPR) is 38.36%.

Analyst Upgrades and Downgrades

Separately, Raymond James initiated coverage on shares of Organon & Co. in a research report on Wednesday, March 15th. They issued an “outperform” rating and a $33.00 price target for the company.

About Organon & Co.

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Organon & Co, a health care company, develops and delivers health solutions through a portfolio of prescription therapies in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon/Implanon, a long-acting reversible contraceptive.