Principal Financial Group Inc. Invests $31.19 Million in AstraZeneca PLC (NASDAQ:AZN)

Principal Financial Group Inc. acquired a new position in shares of AstraZeneca PLC (NASDAQ:AZN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 476,060 shares of the company’s stock, valued at approximately $31,192,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in AstraZeneca in the third quarter valued at about $28,000. Albion Financial Group UT increased its stake in AstraZeneca by 68.9% in the fourth quarter. Albion Financial Group UT now owns 608 shares of the company’s stock valued at $40,000 after acquiring an additional 248 shares during the period. Groupama Asset Managment increased its stake in AstraZeneca by 22.9% in the third quarter. Groupama Asset Managment now owns 543,398 shares of the company’s stock valued at $42,000 after acquiring an additional 101,225 shares during the period. Ashton Thomas Securities LLC bought a new stake in AstraZeneca in the third quarter valued at about $45,000. Finally, Versant Capital Management Inc increased its stake in AstraZeneca by 2,618.5% in the fourth quarter. Versant Capital Management Inc now owns 734 shares of the company’s stock valued at $48,000 after acquiring an additional 707 shares during the period. Institutional investors own 20.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of AstraZeneca from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. UBS Group upgraded shares of AstraZeneca from a “neutral” rating to a “buy” rating in a research report on Thursday, February 13th. Finally, Morgan Stanley assumed coverage on shares of AstraZeneca in a research report on Wednesday, February 12th. They issued an “overweight” rating on the stock. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $89.75.

AstraZeneca Price Performance

Shares of AZN stock opened at $74.20 on Friday. AstraZeneca PLC has a 1 year low of $62.75 and a 1 year high of $87.68. The firm’s 50 day moving average is $68.76 and its 200-day moving average is $73.22. The firm has a market capitalization of $230.11 billion, a price-to-earnings ratio of 32.83, a PEG ratio of 1.43 and a beta of 0.46. The company has a current ratio of 0.93, a quick ratio of 0.74 and a debt-to-equity ratio of 0.65.

AstraZeneca (NASDAQ:AZN) last announced its earnings results on Thursday, February 6th. The company reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.05). AstraZeneca had a return on equity of 32.23% and a net margin of 13.01%. Sell-side analysts forecast that AstraZeneca PLC will post 4.51 EPS for the current fiscal year.

AstraZeneca Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, March 24th. Stockholders of record on Friday, February 21st will be given a dividend of $1.03 per share. This represents a dividend yield of 2%. This is a positive change from AstraZeneca’s previous semi-annual dividend of $0.49. The ex-dividend date is Friday, February 21st. AstraZeneca’s dividend payout ratio is presently 43.36%.

AstraZeneca Company Profile

AstraZeneca PLC, a biopharmaceutical company, focuses on the discovery, development, manufacture, and commercialization of prescription medicines. The company’s marketed products include Tagrisso, Imfinzi, Lynparza, Calquence, Enhertu, Orpathys, Truqap, Zoladex, Faslodex, Farxiga, Brilinta, Lokelma, Roxadustat, Andexxa, Crestor, Seloken, Onglyza, Bydureon, Fasenra, Breztri, Symbicort, Saphnelo, Tezspire, Pulmicort, Bevespi, and Daliresp for cardiovascular, renal, metabolism, and oncology.