Principal Financial Group Inc. Invests $229,000 in Stagwell Inc. (NASDAQ:STGW)

Principal Financial Group Inc. acquired a new stake in Stagwell Inc. (NASDAQ:STGW) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 32,557 shares of the company’s stock, valued at approximately $229,000.

Several other institutional investors have also added to or reduced their stakes in STGW. Harbor Capital Advisors Inc. boosted 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. Lighthouse Investment Partners LLC acquired a new stake in Stagwell in the second quarter valued at about $2,316,000. Dimensional Fund Advisors LP grew its position in Stagwell by 9.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,516,844 shares of the company’s stock valued at $10,344,000 after acquiring an additional 127,099 shares during the last quarter. Barclays PLC raised its stake in Stagwell by 304.6% during the third quarter. Barclays PLC now owns 134,421 shares of the company’s stock worth $944,000 after acquiring an additional 101,201 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Stagwell by 14.6% during the second quarter. Bank of New York Mellon Corp now owns 508,930 shares of the company’s stock worth $3,471,000 after acquiring an additional 64,867 shares in the last quarter. 35.61% of the stock is currently owned by institutional investors and hedge funds.

Stagwell Trading Down 1.4 %

STGW opened at $6.41 on Tuesday. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.95 and a quick ratio of 0.95. Stagwell Inc. has a fifty-two week low of $4.88 and a fifty-two week high of $8.18. The company’s 50 day moving average price is $7.22 and its two-hundred day moving average price is $6.97. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 21.57 and a beta of 1.46.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on STGW shares. Benchmark lifted their price target on shares of Stagwell from $8.50 to $9.50 and gave the company a “buy” rating in a report on Friday, November 8th. Rosenblatt Securities boosted their target price on shares of Stagwell from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $7.50 price target on shares of Stagwell in a report on Monday, October 21st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Stagwell presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.50.

Stagwell Profile

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.