Principal Financial Group Inc. Sells 25,734 Shares of Paramount Global (NASDAQ:PARA)

Principal Financial Group Inc. decreased its stake in shares of Paramount Global (NASDAQ:PARAFree Report) by 4.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 549,858 shares of the company’s stock after selling 25,734 shares during the quarter. Principal Financial Group Inc. owned about 0.08% of Paramount Global worth $8,132,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. boosted its position in shares of Paramount Global by 939.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 157,674 shares of the company’s stock worth $2,332,000 after acquiring an additional 142,511 shares during the last quarter. Qsemble Capital Management LP boosted its position in shares of Paramount Global by 538.4% during the fourth quarter. Qsemble Capital Management LP now owns 130,239 shares of the company’s stock worth $1,926,000 after acquiring an additional 109,839 shares during the last quarter. Versor Investments LP bought a new position in shares of Paramount Global during the fourth quarter worth $296,000. Gladius Capital Management LP boosted its position in shares of Paramount Global by 21.9% during the fourth quarter. Gladius Capital Management LP now owns 30,486 shares of the company’s stock worth $451,000 after acquiring an additional 5,485 shares during the last quarter. Finally, Cambridge Financial Group Inc. boosted its position in shares of Paramount Global by 41.6% during the fourth quarter. Cambridge Financial Group Inc. now owns 382,437 shares of the company’s stock worth $5,656,000 after acquiring an additional 112,292 shares during the last quarter. Institutional investors own 73.00% of the company’s stock.

Paramount Global Trading Up 1.4 %

NASDAQ PARA opened at $11.96 on Tuesday. The company’s 50-day moving average price is $12.02 and its 200-day moving average price is $12.99. The company has a current ratio of 1.29, a quick ratio of 1.19 and a debt-to-equity ratio of 0.65. The stock has a market cap of $7.97 billion, a PE ratio of -79.73, a PEG ratio of 0.36 and a beta of 1.74. Paramount Global has a 12 month low of $10.12 and a 12 month high of $17.50.

Paramount Global (NASDAQ:PARAGet Free Report) last posted its quarterly earnings results on Monday, April 29th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.28. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.35%. The firm had revenue of $7.69 billion for the quarter, compared to analysts’ expectations of $7.73 billion. During the same period in the prior year, the business posted $0.09 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. Equities research analysts forecast that Paramount Global will post 1.32 earnings per share for the current year.

Paramount Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Monday, June 17th. Paramount Global’s payout ratio is -133.32%.

Analysts Set New Price Targets

A number of research firms recently issued reports on PARA. Wells Fargo & Company decreased their price target on shares of Paramount Global from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 30th. Needham & Company LLC downgraded shares of Paramount Global from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Paramount Global from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, February 28th. Morgan Stanley decreased their price target on shares of Paramount Global from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 27th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $13.00 price target on shares of Paramount Global in a research note on Tuesday, April 9th. Nine equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $13.58.

Get Our Latest Stock Analysis on PARA

Paramount Global Profile

(Free Report)

Paramount Global operates as a media, streaming, and entertainment company worldwide. It operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. The TV Media segment operates CBS Television Network, a domestic broadcast television network; CBS Stations, a television station; and international free-to-air networks comprising Network 10, Channel 5, Telefe, and Chilevisión; domestic premium and basic cable networks, such as Paramount+ with Showtime, MTV, Comedy Central, Paramount Network, The Smithsonian Channel, Nickelodeon, BET Media Group, and CBS Sports Network; and international extensions of these brands.

Further Reading

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Institutional Ownership by Quarter for Paramount Global (NASDAQ:PARA)

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