Envestnet Asset Management Inc. Buys 196,843 Shares of Haleon plc (NYSE:HLN)

Envestnet Asset Management Inc. lifted its stake in Haleon plc (NYSE:HLN) by 2.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,572,548 shares of the company’s stock after buying an additional 196,843 shares during the quarter. Envestnet Asset Management Inc. owned about 0.17% of Haleon worth $62,549,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC raised its stake in Haleon by 6.0% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 93,739 shares of the company’s stock worth $771,000 after acquiring an additional 5,347 shares during the period. Financial Advocates Investment Management raised its position in shares of Haleon by 18.5% during the 4th quarter. Financial Advocates Investment Management now owns 17,592 shares of the company’s stock valued at $145,000 after purchasing an additional 2,743 shares during the period. Independent Advisor Alliance purchased a new position in shares of Haleon during the 4th quarter valued at $129,000. Brown Advisory Inc. boosted its holdings in Haleon by 14.1% in the 4th quarter. Brown Advisory Inc. now owns 41,427 shares of the company’s stock worth $341,000 after buying an additional 5,104 shares during the period. Finally, Coldstream Capital Management Inc. increased its stake in Haleon by 192.3% in the 4th quarter. Coldstream Capital Management Inc. now owns 36,888 shares of the company’s stock worth $304,000 after buying an additional 24,270 shares in the last quarter. 6.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. The Goldman Sachs Group downgraded Haleon from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 6th. Berenberg Bank began coverage on Haleon in a report on Tuesday, August 6th. They issued a “buy” rating on the stock. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Haleon presently has an average rating of “Moderate Buy”.

Haleon Stock Down 0.8 %

Shares of HLN stock opened at $10.56 on Thursday. The company’s fifty day simple moving average is $9.66 and its two-hundred day simple moving average is $8.83. Haleon plc has a 52 week low of $7.70 and a 52 week high of $10.76. The stock has a market cap of $48.22 billion, a P/E ratio of 35.20, a PEG ratio of 3.10 and a beta of 0.26. The company has a quick ratio of 0.58, a current ratio of 0.84 and a debt-to-equity ratio of 0.44.

Haleon (NYSE:HLN) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The firm had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.55 billion. Haleon had a net margin of 9.71% and a return on equity of 13.15%. During the same period in the previous year, the company posted $0.08 earnings per share. Analysts predict that Haleon plc will post 0.46 EPS for the current fiscal year.

Haleon Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, September 19th. Investors of record on Friday, August 16th will be given a $0.0514 dividend. This represents a yield of 1.6%. The ex-dividend date is Friday, August 16th. Haleon’s dividend payout ratio is presently 33.33%.

About Haleon

Haleon plc, together with its subsidiaries, engages in the research, development, manufacture, and sale of various consumer healthcare products in North America, Europe, the Middle East, Africa, Latin America, and the Asia Pacific. The company provides oral health products, such as toothpastes, mouth washes, and denture care products under the Sensodyne, Polident, Parodontax, Biotene brands; and vitamins, minerals, and supplements under Centrum, Emergen-C, Caltrate brands.