Pershing Square (NYSE:PS) Coverage Initiated by Analysts at Tigress Financial

Tigress Financial began coverage on shares of Pershing Square (NYSE:PS) in a research note released on Monday, MarketBeat reports. The brokerage issued a neutral rating and a $39.00 price objective on the stock.

Several other brokerages also recently commented on PS. Bank of America began coverage on shares of Pershing Square in a report on Tuesday, May 26th. They issued a “neutral” rating and a $42.00 target price for the company. Jefferies Financial Group began coverage on shares of Pershing Square in a report on Monday, May 25th. They set a “hold” rating and a $40.00 price target on the stock. Citigroup reduced their price objective on shares of Pershing Square from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, July 13th. Zacks Research upgraded shares of Pershing Square to a “hold” rating in a research note on Friday, May 29th. Finally, UBS Group assumed coverage on shares of Pershing Square in a research report on Tuesday, May 26th. They set a “neutral” rating and a $39.00 target price on the stock. Three research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $40.56.

Pershing Square Trading Up 2.1%

Shares of NYSE:PS opened at $34.70 on Monday. The company has a market cap of $13.88 billion, a PE ratio of -40.21 and a beta of 2.27. The company’s fifty day moving average is $34.75. Pershing Square has a 1-year low of $22.01 and a 1-year high of $54.94.

Pershing Square Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Monday, July 13th were paid a dividend of $0.122 per share. This represents a $0.49 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Monday, July 13th.

Insider Buying and Selling at Pershing Square

In related news, CEO William A. Ackman purchased 800,000 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The shares were bought at an average cost of $23.77 per share, with a total value of $19,016,000.00. Following the acquisition, the chief executive officer owned 1,500,000 shares of the company’s stock, valued at $35,655,000. This represents a 114.29% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 21.79% of the company’s stock.

Pershing Square Company Profile

Pershing Square (NYSE: PS) is a publicly traded investment holding company managed by Pershing Square Capital Management, L.P., the investment firm founded and led by William “Bill” Ackman. The vehicle provides outside investors with exposure to the firm’s concentrated, actively managed investment program and is designed to deliver long‑term capital appreciation through a portfolio of equity and related positions.

The company’s principal activities center on investing in publicly traded companies, typically through concentrated long equity positions and selectively using derivatives or other instruments for hedging or to implement investment views.