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

Corebridge Financial Inc. reduced its position in Organon & Co. (NYSE:OGN) by 9.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,867 shares of the company’s stock after selling 1,165 shares during the period. Corebridge Financial Inc.’s holdings in Organon & Co. were worth $162,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of OGN. Pacer Advisors Inc. grew its position in Organon & Co. by 94,482.1% in the fourth quarter. Pacer Advisors Inc. now owns 11,152,179 shares of the company’s stock worth $166,391,000 after acquiring an additional 11,140,388 shares in the last quarter. Magnetar Financial LLC increased its stake in Organon & Co. by 560.2% during the fourth quarter. Magnetar Financial LLC now owns 1,734,434 shares of the company’s stock valued at $25,878,000 after acquiring an additional 1,471,731 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Organon & Co. by 191.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 760,807 shares of the company’s stock worth $11,382,000 after purchasing an additional 499,616 shares in the last quarter. LPL Financial LLC increased its position in shares of Organon & Co. by 160.7% during the fourth quarter. LPL Financial LLC now owns 457,687 shares of the company’s stock valued at $6,829,000 after purchasing an additional 282,150 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Organon & Co. in the fourth quarter valued at $4,194,000. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Organon & Co. Price Performance

Shares of OGN opened at $11.17 on Monday. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. Organon & Co. has a twelve month low of $10.94 and a twelve month high of $23.10. The company has a 50 day moving average of $14.64 and a 200-day moving average of $15.64. The stock has a market capitalization of $2.88 billion, a P/E ratio of 3.35, a P/E/G ratio of 0.90 and a beta of 0.73.

Organon & Co. (NYSE:OGN) last issued its earnings results on Thursday, February 13th. The company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.09). Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.57 billion. As a group, equities research analysts forecast that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Monday, February 24th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 10.03%. The ex-dividend date was Monday, February 24th. Organon & Co.’s dividend payout ratio is presently 33.63%.

Analyst Ratings Changes

A number of research firms recently weighed in on OGN. TD Cowen raised shares of Organon & Co. to a “hold” rating in a research note on Wednesday, January 15th. Barclays decreased their price objective on shares of Organon & Co. from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Finally, Morgan Stanley lowered their target price on Organon & Co. from $16.00 to $15.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Organon & Co. has a consensus rating of “Hold” and an average price target of $20.60.

About Organon & Co.

Organon & Co is a science based global pharmaceutical company, which develops and delivers innovative health solutions through a portfolio of prescription therapies within women’s health, biosimilars and established brands. The company was founded on March 11, 2020, and is headquartered in Jersey City, NJ.