32,557 Shares in Stagwell Inc. (NASDAQ:STGW) Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. acquired a new stake in Stagwell Inc. (NASDAQ:STGW) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 32,557 shares of the company’s stock, valued at approximately $229,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Stagwell by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 5,836,976 shares of the company’s stock valued at $36,306,000 after buying an additional 452,874 shares during the period. Lighthouse Investment Partners LLC acquired a new stake in Stagwell in the second quarter valued at $2,316,000. Dimensional Fund Advisors LP boosted its position in shares of Stagwell by 9.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,516,844 shares of the company’s stock worth $10,344,000 after purchasing an additional 127,099 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of Stagwell by 123.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 1,241,594 shares of the company’s stock valued at $8,716,000 after purchasing an additional 685,164 shares in the last quarter. Finally, Concurrent Investment Advisors LLC lifted its stake in shares of Stagwell by 44.4% in the second quarter. Concurrent Investment Advisors LLC now owns 28,875 shares of the company’s stock valued at $197,000 after purchasing an additional 8,875 shares during the period. Institutional investors and hedge funds own 35.61% of the company’s stock.

Stagwell Price Performance

STGW stock opened at $7.92 on Tuesday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.95 and a current ratio of 0.95. The stock’s 50 day moving average price is $7.05 and its 200 day moving average price is $6.88. The firm has a market cap of $2.08 billion, a P/E ratio of 26.07 and a beta of 1.35. Stagwell Inc. has a 1 year low of $4.88 and a 1 year high of $8.04.

Analyst Ratings Changes

Several brokerages have weighed in on STGW. Rosenblatt Securities upped their target price on shares of Stagwell from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $7.50 price objective on shares of Stagwell in a research note on Monday, October 21st. Finally, Benchmark boosted their target price on Stagwell from $8.50 to $9.50 and gave the stock a “buy” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Stagwell currently has a consensus rating of “Moderate Buy” and an average target price of $8.50.

About Stagwell

Stagwell Inc provides digital transformation, performance media and data, consumer insights and strategy, and creativity and communications services. The company operates through three segments: Integrated Agencies Network, Brand Performance Network, and Communications Network. It designs and builds digital platforms and experiences that support the delivery of content, commerce, service, and sales; creates websites, mobile applications, back-end systems, content and data management systems, and other digital environments; designs and implements technology and data strategies; and develops software and related technology products, including artificial intelligence (AI)-enabled communications, research, and media technology, cookie-less data platforms for advance targeting and activation, software tools for e-commerce applications, specialty media solutions in the augmented reality space, and text messaging applications for consumer engagement.