Principal Financial Group Inc. Increases Stock Holdings in Acushnet Holdings Corp. (NYSE:GOLF)

Principal Financial Group Inc. lifted its holdings in Acushnet Holdings Corp. (NYSE:GOLF) by 6.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,013,857 shares of the company’s stock after purchasing an additional 63,294 shares during the period. Principal Financial Group Inc. owned approximately 1.67% of Acushnet worth $64,632,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of GOLF. Franklin Resources Inc. increased its position in shares of Acushnet by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 22,831 shares of the company’s stock valued at $1,455,000 after purchasing an additional 548 shares during the last quarter. Tidal Investments LLC acquired a new position in shares of Acushnet during the 3rd quarter worth about $508,000. SkyView Investment Advisors LLC boosted its position in shares of Acushnet by 1.8% during the 3rd quarter. SkyView Investment Advisors LLC now owns 20,772 shares of the company’s stock worth $1,324,000 after acquiring an additional 376 shares in the last quarter. Virtu Financial LLC raised its position in shares of Acushnet by 152.6% during the 3rd quarter. Virtu Financial LLC now owns 8,163 shares of the company’s stock worth $520,000 after acquiring an additional 4,931 shares in the last quarter. Finally, Barclays PLC lifted its stake in Acushnet by 361.5% during the third quarter. Barclays PLC now owns 48,563 shares of the company’s stock worth $3,096,000 after purchasing an additional 38,041 shares during the last quarter. Institutional investors and hedge funds own 53.12% of the company’s stock.

Acushnet Stock Performance

Shares of GOLF opened at $69.92 on Friday. The company’s 50 day simple moving average is $68.57 and its 200-day simple moving average is $66.53. Acushnet Holdings Corp. has a 12-month low of $58.54 and a 12-month high of $76.59. The firm has a market cap of $4.25 billion, a PE ratio of 23.78 and a beta of 0.88. The company has a current ratio of 2.10, a quick ratio of 1.14 and a debt-to-equity ratio of 0.79.

Acushnet (NYSE:GOLF) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. Acushnet had a net margin of 7.78% and a return on equity of 21.45%. The company had revenue of $620.50 million for the quarter, compared to analyst estimates of $620.40 million. During the same period in the previous year, the business posted $0.85 earnings per share. Acushnet’s quarterly revenue was up 4.6% on a year-over-year basis. As a group, equities analysts predict that Acushnet Holdings Corp. will post 3.06 EPS for the current year.

Acushnet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a $0.215 dividend. The ex-dividend date was Friday, December 6th. This represents a $0.86 annualized dividend and a dividend yield of 1.23%. Acushnet’s dividend payout ratio (DPR) is currently 29.25%.

Insider Activity

In other news, insider Christopher Aaron Lindner sold 5,000 shares of Acushnet stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $73.91, for a total value of $369,550.00. Following the sale, the insider now owns 88,710 shares of the company’s stock, valued at $6,556,556.10. The trade was a 5.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 54.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Truist Financial increased their price target on shares of Acushnet from $65.00 to $68.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Jefferies Financial Group lowered shares of Acushnet from a “buy” rating to a “hold” rating and cut their price target for the stock from $86.00 to $75.00 in a research note on Tuesday, September 17th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $71.40.

Acushnet Company Profile

Acushnet Holdings Corp. designs, develops, manufactures, and distributes golf products in the United States, Europe, the Middle East, Africa, Japan, Korea, and internationally. The company operates through four segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, and FootJoy Golf Wear.