Asset Management One Co. Ltd. Sells 6,449 Shares of Organon & Co. (NYSE:OGN)

Asset Management One Co. Ltd. lessened its stake in Organon & Co. (NYSE:OGN) by 16.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,407 shares of the company’s stock after selling 6,449 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Organon & Co. were worth $469,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of OGN. Fairfield Bush & CO. raised its holdings in shares of Organon & Co. by 3.0% in the 1st quarter. Fairfield Bush & CO. now owns 16,302 shares of the company’s stock worth $569,000 after purchasing an additional 481 shares during the period. Natixis Advisors L.P. raised its holdings in shares of Organon & Co. by 52.5% in the 1st quarter. Natixis Advisors L.P. now owns 50,428 shares of the company’s stock worth $1,761,000 after purchasing an additional 17,370 shares during the period. MetLife Investment Management LLC raised its holdings in shares of Organon & Co. by 23.2% in the 1st quarter. MetLife Investment Management LLC now owns 68,987 shares of the company’s stock worth $2,410,000 after purchasing an additional 12,969 shares during the period. Panagora Asset Management Inc. raised its holdings in shares of Organon & Co. by 95.6% in the 1st quarter. Panagora Asset Management Inc. now owns 39,595 shares of the company’s stock worth $1,383,000 after purchasing an additional 19,352 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Organon & Co. by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 33,926 shares of the company’s stock worth $1,185,000 after purchasing an additional 2,101 shares during the period. Institutional investors own 77.43% of the company’s stock.

Analyst Ratings Changes

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

Organon & Co. Trading Down 4.5 %

Organon & Co. stock opened at $17.45 on Friday. Organon & Co. has a 1-year low of $10.84 and a 1-year high of $24.79. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of 4.36, a P/E/G ratio of 0.86 and a beta of 0.83. The firm has a 50 day simple moving average of $17.88 and a 200 day simple moving average of $15.59.

Organon & Co. (NYSE:OGN) last released its quarterly earnings data on Thursday, February 15th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.14. Organon & Co. had a net margin of 16.33% and a negative return on equity of 212.00%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.55 billion. On average, equities research analysts forecast that Organon & Co. will post 4.08 EPS for the current year.

Organon & Co. Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 6.42%. Organon & Co.’s dividend payout ratio (DPR) is currently 28.00%.

Insider Activity

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

About Organon & Co.

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.