Principal Financial Group Inc. Buys 219,680 Shares of Oracle Co. (ORCL)
Principal Financial Group Inc. increased its stake in Oracle Co. (NYSE:ORCL) by 5.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,599,147 shares of the enterprise software provider’s stock after purchasing an additional 219,680 shares during the quarter. Principal Financial Group Inc.’s holdings in Oracle were worth $207,652,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. Northern Trust Corp raised its holdings in Oracle by 0.6% in the 4th quarter. Northern Trust Corp now owns 40,340,189 shares of the enterprise software provider’s stock worth $1,821,360,000 after purchasing an additional 238,058 shares during the period. Clearbridge Investments LLC raised its holdings in Oracle by 5.1% in the 3rd quarter. Clearbridge Investments LLC now owns 21,161,401 shares of the enterprise software provider’s stock worth $1,091,082,000 after purchasing an additional 1,022,017 shares during the period. Morgan Stanley raised its holdings in Oracle by 20.1% in the 3rd quarter. Morgan Stanley now owns 19,959,479 shares of the enterprise software provider’s stock worth $1,029,110,000 after purchasing an additional 3,340,653 shares during the period. Fisher Asset Management LLC raised its holdings in Oracle by 3.0% in the 4th quarter. Fisher Asset Management LLC now owns 14,543,137 shares of the enterprise software provider’s stock worth $656,623,000 after purchasing an additional 420,553 shares during the period. Finally, Yacktman Asset Management LP raised its holdings in Oracle by 3.2% in the 4th quarter. Yacktman Asset Management LP now owns 13,701,527 shares of the enterprise software provider’s stock worth $618,624,000 after purchasing an additional 419,509 shares during the period. 47.41% of the stock is currently owned by institutional investors.
Oracle stock opened at $53.83 on Wednesday. The company has a quick ratio of 2.65, a current ratio of 2.65 and a debt-to-equity ratio of 2.13. Oracle Co. has a fifty-two week low of $42.40 and a fifty-two week high of $54.65. The company has a market cap of $223.25 billion, a PE ratio of 19.09, a P/E/G ratio of 1.79 and a beta of 1.08.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Thursday, April 11th will be issued a $0.24 dividend. This is a positive change from Oracle’s previous quarterly dividend of $0.19. This represents a $0.96 annualized dividend and a yield of 1.78%. The ex-dividend date is Wednesday, April 10th. Oracle’s payout ratio is currently 26.95%.
In other Oracle news, Director Jeffrey Berg sold 37,500 shares of Oracle stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $53.10, for a total value of $1,991,250.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Hector Garcia-Molina sold 3,750 shares of Oracle stock in a transaction on Tuesday, January 15th. The stock was sold at an average price of $48.20, for a total transaction of $180,750.00. Following the completion of the transaction, the director now directly owns 27,969 shares in the company, valued at $1,348,105.80. The disclosure for this sale can be found here. Insiders sold 1,773,750 shares of company stock worth $95,371,438 over the last ninety days. Corporate insiders own 32.00% of the company’s stock.
ORCL has been the subject of a number of analyst reports. DZ Bank reiterated a “sell” rating on shares of Oracle in a research note on Tuesday, March 19th. Exane BNP Paribas initiated coverage on Oracle in a research report on Friday, March 29th. They set a “neutral” rating and a $50.00 price objective for the company. Zacks Investment Research upgraded Oracle from a “sell” rating to a “hold” rating in a research report on Tuesday, March 19th. BNP Paribas began coverage on Oracle in a research report on Friday, March 29th. They set a “neutral” rating and a $50.00 price objective for the company. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $53.00 price objective on shares of Oracle in a research note on Wednesday, March 13th. Three investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $52.53.
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Oracle Company Profile
Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.
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