Principal Financial Group Inc. Sells 27,101 Shares of Quest Diagnostics Incorporated $DGX

Principal Financial Group Inc. trimmed its position in shares of Quest Diagnostics Incorporated (NYSE:DGX) by 4.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 534,470 shares of the medical research company’s stock after selling 27,101 shares during the quarter. Principal Financial Group Inc. owned 0.48% of Quest Diagnostics worth $101,861,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. MTM Investment Management LLC purchased a new stake in Quest Diagnostics in the 2nd quarter worth about $29,000. True Wealth Design LLC grew its stake in shares of Quest Diagnostics by 369.7% during the third quarter. True Wealth Design LLC now owns 155 shares of the medical research company’s stock valued at $30,000 after buying an additional 122 shares during the last quarter. AlphaQuest LLC raised its holdings in shares of Quest Diagnostics by 18,400.0% in the second quarter. AlphaQuest LLC now owns 185 shares of the medical research company’s stock worth $33,000 after buying an additional 184 shares during the period. First Horizon Corp purchased a new stake in shares of Quest Diagnostics in the third quarter worth approximately $33,000. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Quest Diagnostics during the 2nd quarter worth approximately $35,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Insider Activity at Quest Diagnostics

In related news, Director Vicky B. Gregg sold 1,250 shares of Quest Diagnostics stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $191.76, for a total transaction of $239,700.00. Following the transaction, the director directly owned 17,037 shares of the company’s stock, valued at $3,267,015.12. This trade represents a 6.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Mark E. Delaney sold 7,946 shares of the company’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $187.35, for a total value of $1,488,683.10. Following the sale, the senior vice president owned 7,530 shares of the company’s stock, valued at approximately $1,410,745.50. This represents a 51.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 64,289 shares of company stock valued at $12,318,360 over the last ninety days. 8.16% of the stock is owned by company insiders.

Quest Diagnostics Stock Down 1.2%

NYSE:DGX opened at $184.85 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.13 and a quick ratio of 1.04. Quest Diagnostics Incorporated has a 1-year low of $157.20 and a 1-year high of $197.55. The company has a 50-day moving average of $181.25 and a 200 day moving average of $180.84. The firm has a market cap of $20.56 billion, a PE ratio of 21.70, a price-to-earnings-growth ratio of 2.37 and a beta of 0.66.

Quest Diagnostics Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 28th. Stockholders of record on Tuesday, January 13th were paid a dividend of $0.80 per share. The ex-dividend date was Tuesday, January 13th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.7%. Quest Diagnostics’s dividend payout ratio (DPR) is currently 37.56%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on DGX shares. Barclays raised Quest Diagnostics from an “equal weight” rating to an “overweight” rating and set a $210.00 price objective on the stock in a research report on Friday. UBS Group upped their price target on shares of Quest Diagnostics from $180.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, October 17th. Wall Street Zen lowered shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Sunday, January 25th. Jefferies Financial Group boosted their price objective on shares of Quest Diagnostics from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. Finally, Truist Financial raised their target price on shares of Quest Diagnostics from $195.00 to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, October 22nd. Eight analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $198.27.

About Quest Diagnostics

Quest Diagnostics (NYSE: DGX) is a leading provider of diagnostic information services that supports clinical decision-making for patients, physicians and healthcare organizations. The company operates a network of clinical laboratories and patient service centers that perform a broad range of laboratory tests and diagnostic assays used in routine care, disease diagnosis, monitoring and screening.

Its services span core clinical laboratory testing, anatomic pathology, molecular and genomic diagnostics, infectious disease testing and toxicology.