Principal Financial Group Inc. Reduces Holdings in Booz Allen Hamilton Holding Co.

Principal Financial Group Inc. has made a slight adjustment to its investment in Booz Allen Hamilton Holding Co. (NYSE:BAH – Free Report), reducing its stake by 0.4% during the third quarter. This reduction was confirmed through a recent filing with the Securities and Exchange Commission. After selling 129 shares, the fund now holds a total of 35,923 shares in the consulting firm, with the value of these holdings amounting to approximately $5,847,000.

Other institutional investors and hedge funds have also been active in updating their positions regarding Booz Allen Hamilton. For instance, Geode Capital Management LLC increased its investments by 2.5% during the third quarter, bringing its total holdings to 2,341,533 shares valued at approximately $381,898,000 after acquiring an additional 58,038 shares. AGF Management Ltd. made a significant move, boosting its stake by 63.4% in the previous quarter, resulting in ownership of 1,750,610 shares valued at about $269,419,000 after adding 679,280 shares.

Similarly, American Century Companies Inc. enhanced its stake by 6.1% during the second quarter, now owning 1,672,961 shares worth $257,469,000, following the purchase of an additional 96,553 shares. Caisse DE Depot ET Placement DU Quebec also increased its holdings by 28.5% in the recent quarter, now owning 1,288,101 shares valued at $209,651,000 after acquiring 285,621 additional shares. Additionally, Dimensional Fund Advisors LP raised its stake by 10.1% in the second quarter, bringing its total to 1,021,239 shares valued at $157,184,000 following the acquisition of 93,544 shares.

Insider Sales Reports

Recent insider trading activity includes notable sales, with EVP Richard Crowe selling 4,243 shares on October 24th at an average price of $165.00, totaling $700,095. This sale represented a reduction of 14.27% in his position. Post-sale, Crowe owned 25,496 shares valued at roughly $4,206,840. Similarly, CFO Matthew Calderone sold 4,065 shares on the same date at the same average price, amounting to $670,725, which was a 12.07% reduction in his holdings. After the sale, Calderone holds 29,618 shares valued at $4,886,970. These transactions have been disclosed in filings with the Securities and Exchange Commission.

Current Market Performance

As of Thursday, Booz Allen Hamilton shares opened at $128.70. The company presents a debt-to-equity ratio of 2.76, along with a current ratio and quick ratio both standing at 1.56. With a market capitalization of $16.44 billion, the stock displays a PE ratio of 20.20, a P/E/G ratio of 1.62, and a beta of 0.52. The shares have fluctuated within a 52-week range, with the low at $123.17 and the high at $190.59. The company's fifty-day simple moving average is $151.79, while its 200-day average is $153.91.

Dividend Announcement

Booz Allen Hamilton recently declared a quarterly dividend of $0.51, which was paid on December 4th to stockholders on record as of November 15th. This dividend translates to an estimated annual payout of $2.04 and a dividend yield of 1.59%. The company currently maintains a dividend payout ratio (DPR) of 32.03%.

Analyst Insights

The stock has attracted attention from various analysts with recent ratings changes. StockNews.com downgraded Booz Allen Hamilton from a 'buy' to a 'hold' rating as of December 5th. UBS Group recently commenced coverage with a 'neutral' rating, setting a price target at $159.00. Meanwhile, Goldman Sachs Group reduced its price target from $210.00 to $158.00 while maintaining a 'buy' rating. Furthermore, JPMorgan Chase downgraded the stock from 'neutral' to 'underweight' while adjusting its price target from $154.00 to $158.00. Truist Financial also decreased its target price from $185.00 to $155.00, giving it a 'hold' rating. In summary, while two equity research analysts issued sell ratings, four maintained a hold rating, three issued buys, and one gave a strong buy, resulting in a consensus rating of 'Hold' and an average target price of $167.44.

Overview of Booz Allen Hamilton

Booz Allen Hamilton Holding Corporation specializes in management and technology consulting services, providing analytical support, engineering, digital solutions, and cyber services to governmental entities, corporations, and non-profit organizations across the globe. The firm emphasizes its focus on advanced technologies including artificial intelligence, machine learning, predictive modeling, and more.

Financial, Investment, Stocks