Principal Financial Group Inc. Has $5.10 Million Holdings in On Holding AG (NYSE:ONON)

Principal Financial Group Inc. lifted its stake in On Holding AG (NYSE:ONON) by 96.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 101,784 shares of the company’s stock after acquiring an additional 49,995 shares during the period. Principal Financial Group Inc.’s holdings in ON were worth $5,104,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its position in shares of ON by 319.8% in the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock valued at $27,000 after purchasing an additional 403 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in ON by 210.5% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock worth $28,000 after acquiring an additional 400 shares during the period. Quarry LP bought a new stake in ON during the second quarter valued at about $32,000. MFA Wealth Advisors LLC acquired a new stake in shares of ON in the third quarter valued at about $50,000. Finally, Asset Dedication LLC increased its stake in shares of ON by 25.8% in the second quarter. Asset Dedication LLC now owns 1,592 shares of the company’s stock worth $62,000 after purchasing an additional 327 shares during the period. 33.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on ONON. Robert W. Baird increased their price objective on ON from $55.00 to $63.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. UBS Group lifted their target price on ON from $61.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Bank of America raised ON from an “underperform” rating to a “neutral” rating and upped their price target for the company from $21.00 to $55.00 in a report on Monday, September 23rd. Hsbc Global Res raised ON to a “hold” rating in a report on Thursday, September 5th. Finally, Morgan Stanley upped their target price on ON from $44.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Four equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ON presently has an average rating of “Moderate Buy” and a consensus price target of $54.33.

ON Price Performance

Shares of NYSE:ONON opened at $53.75 on Thursday. The company has a market capitalization of $33.84 billion, a price-to-earnings ratio of 125.00 and a beta of 2.25. The firm’s 50 day simple moving average is $50.01 and its 200 day simple moving average is $43.68. On Holding AG has a fifty-two week low of $25.78 and a fifty-two week high of $56.44.

ON Profile

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.