Private Management Group Inc. Has $33.67 Million Position in Organon & Co. (NYSE:OGN)

Private Management Group Inc. boosted its stake in Organon & Co. (NYSE:OGN) by 78.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,335,238 shares of the company’s stock after purchasing an additional 1,027,276 shares during the quarter. Organon & Co. comprises about 1.3% of Private Management Group Inc.’s holdings, making the stock its 21st biggest position. Private Management Group Inc. owned 0.91% of Organon & Co. worth $33,674,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Yousif Capital Management LLC grew its stake in Organon & Co. by 202.5% in the fourth quarter. Yousif Capital Management LLC now owns 105,510 shares of the company’s stock valued at $1,521,000 after acquiring an additional 70,629 shares during the period. GAMMA Investing LLC acquired a new stake in Organon & Co. in the 4th quarter valued at $38,000. Illinois Municipal Retirement Fund acquired a new stake in Organon & Co. in the 4th quarter valued at $2,240,000. Handelsbanken Fonder AB raised its holdings in Organon & Co. by 11.7% during the fourth quarter. Handelsbanken Fonder AB now owns 45,800 shares of the company’s stock worth $660,000 after buying an additional 4,800 shares during the last quarter. Finally, CWM LLC raised its holdings in Organon & Co. by 8.3% during the fourth quarter. CWM LLC now owns 14,217 shares of the company’s stock worth $205,000 after buying an additional 1,087 shares during the last quarter. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Organon & Co. Stock Up 2.9 %

OGN traded up $0.52 during trading on Tuesday, reaching $18.52. 1,696,342 shares of the company were exchanged, compared to its average volume of 2,745,442. The company has a market cap of $4.73 billion, a price-to-earnings ratio of 4.63, a P/E/G ratio of 0.84 and a beta of 0.82. Organon & Co. has a 12-month low of $10.84 and a 12-month high of $24.79. The company’s 50-day moving average is $18.10 and its two-hundred day moving average is $15.65.

Organon & Co. (NYSE:OGN) last announced its earnings results on Thursday, February 15th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.14. Organon & Co. had a negative return on equity of 212.00% and a net margin of 16.33%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.55 billion. Equities analysts forecast that Organon & Co. will post 4.08 earnings per share for the current year.

Organon & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Monday, February 26th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.05%. The ex-dividend date was Friday, February 23rd. Organon & Co.’s payout ratio is currently 28.00%.

Insider Activity

In other Organon & Co. news, insider Kirke Weaver purchased 2,720 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were purchased at an average cost of $18.36 per share, with a total value of $49,939.20. Following the completion of the purchase, the insider now owns 15,181 shares of the company’s stock, valued at approximately $278,723.16. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group boosted their target price on Organon & Co. from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 20th.

About Organon & Co.

Organon & Co develops and delivers health solutions through a portfolio of prescription therapies and medical devices within women's health in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon, a long-acting reversible contraceptive; NuvaRing, a monthly vaginal contraceptive ring; Cerazette, a daily pill used to prevent pregnancy; Marvelon, progestin and estrogen used as daily pills to prevent pregnancy; Follistim AQ, used to promote the development of multiple ovarian follicles in assisted reproduction technology procedures; Elonva, an ovarian follicle stimulant; Ganirelix Acetate Injection, an injectable antagonist; and Jada, for abnormal postpartum uterine bleeding or hemorrhage.