Principal Financial Group Inc. Raises Holdings in Trip.com Group Limited (NASDAQ:TCOM)

Principal Financial Group Inc. raised its position in shares of Trip.com Group Limited (NASDAQ:TCOM) by 139.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 131,407 shares of the company’s stock after acquiring an additional 76,624 shares during the period. Principal Financial Group Inc.’s holdings in Trip.com Group were worth $7,810,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC purchased a new stake in shares of Trip.com Group during the 3rd quarter worth about $1,227,000. Franklin Resources Inc. grew its stake in Trip.com Group by 3.4% during the third quarter. Franklin Resources Inc. now owns 526,420 shares of the company’s stock worth $33,501,000 after buying an additional 17,416 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Trip.com Group in the third quarter worth $385,000. Geode Capital Management LLC raised its stake in shares of Trip.com Group by 20.5% in the 3rd quarter. Geode Capital Management LLC now owns 317,894 shares of the company’s stock valued at $18,892,000 after acquiring an additional 54,072 shares during the period. Finally, M&T Bank Corp acquired a new stake in Trip.com Group in the 3rd quarter valued at $224,000. Hedge funds and other institutional investors own 35.41% of the company’s stock.

Trip.com Group Trading Up 0.1 %

NASDAQ:TCOM opened at $68.66 on Wednesday. Trip.com Group Limited has a 12-month low of $34.42 and a 12-month high of $77.18. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.42 and a quick ratio of 1.42. The business has a 50 day simple moving average of $67.23 and a 200 day simple moving average of $55.73. The firm has a market capitalization of $44.22 billion, a P/E ratio of 20.56, a P/E/G ratio of 1.10 and a beta of 0.38.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Citigroup increased their target price on Trip.com Group from $66.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Macquarie increased their price objective on shares of Trip.com Group from $75.40 to $80.80 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Barclays boosted their target price on shares of Trip.com Group from $76.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Benchmark raised their price target on shares of Trip.com Group from $72.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Hsbc Global Res upgraded Trip.com Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 19th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $74.18.

Trip.com Group Company Profile

Trip.com Group Limited, through its subsidiaries, operates as a travel service provider for accommodation reservation, transportation ticketing, packaged tours and in-destination, corporate travel management, and other travel-related services in China and internationally. The company acts as an agent for hotel-related transactions and selling air tickets, as well as provides train, long-distance bus, and ferry tickets; travel insurance products, such as flight delay, air accident, and baggage loss coverage; and air-ticket delivery, online check-in and seat selection, express security screening, real-time flight status tracker, and airport VIP lounge services.