Principal Financial Group Inc. Has $7.04 Million Stake in Paramount Global (NASDAQ:PARA)

Principal Financial Group Inc. reduced its holdings in Paramount Global (NASDAQ:PARA) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 673,240 shares of the company’s stock after selling 10,161 shares during the quarter. Principal Financial Group Inc. owned about 0.10% of Paramount Global worth $7,042,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Allworth Financial LP grew its holdings in Paramount Global by 140.1% in the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after buying an additional 1,395 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Paramount Global by 162.8% in the third quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock worth $26,000 after acquiring an additional 1,573 shares during the last quarter. Huntington National Bank increased its position in Paramount Global by 129.0% during the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after acquiring an additional 1,561 shares during the period. Kennebec Savings Bank acquired a new position in Paramount Global during the 3rd quarter valued at $47,000. Finally, FNY Investment Advisers LLC boosted its holdings in Paramount Global by 102.4% in the 4th quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company’s stock valued at $75,000 after purchasing an additional 3,654 shares during the period. 73.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PARA. Morgan Stanley boosted their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Tuesday, February 4th. Guggenheim reaffirmed a “buy” rating and issued a $14.00 price target on shares of Paramount Global in a report on Thursday. Macquarie reiterated an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a research report on Monday, November 11th. Benchmark restated a “buy” rating and set a $19.00 price objective on shares of Paramount Global in a research report on Thursday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research report on Thursday. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $12.10.

Paramount Global Stock Up 1.1 %

Shares of NASDAQ PARA opened at $11.36 on Monday. The business has a fifty day moving average of $10.81 and a two-hundred day moving average of $10.75. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. Paramount Global has a 52-week low of $9.54 and a 52-week high of $14.54. The stock has a market cap of $7.58 billion, a PE ratio of -1.38, a PEG ratio of 1.68 and a beta of 1.69.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.29). The firm had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. As a group, equities research analysts expect that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Monday, March 17th. Paramount Global’s payout ratio is currently -2.15%.

About Paramount Global

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.