Principal Financial Group Inc. Has $80.66 Million Holdings in TKO Group Holdings, Inc. $TKO

by · The Markets Daily

Principal Financial Group Inc. decreased its position in shares of TKO Group Holdings, Inc. (NYSE:TKO – Free Report) by 57.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 399,373 shares of the company’s stock after selling 533,303 shares during the period. Principal Financial Group Inc.’s holdings in TKO Group were worth $80,657,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in TKO Group during the 2nd quarter valued at $132,441,000. Alliancebernstein L.P. grew its holdings in shares of TKO Group by 551.8% during the second quarter. Alliancebernstein L.P. now owns 494,964 shares of the company’s stock worth $90,059,000 after purchasing an additional 419,021 shares during the last quarter. Invesco Ltd. increased its stake in shares of TKO Group by 26.9% in the second quarter. Invesco Ltd. now owns 1,806,377 shares of the company’s stock valued at $328,670,000 after buying an additional 383,325 shares in the last quarter. Munro Partners bought a new position in shares of TKO Group in the second quarter valued at about $65,670,000. Finally, BNP Paribas Financial Markets lifted its position in TKO Group by 93.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 296,279 shares of the company’s stock worth $53,908,000 after buying an additional 143,170 shares in the last quarter. 89.79% of the stock is owned by institutional investors and hedge funds.

TKO Group Price Performance

TKO opened at $203.27 on Wednesday. The company has a fifty day moving average price of $204.66 and a two-hundred day moving average price of $192.71. The firm has a market capitalization of $39.65 billion, a PE ratio of 77.88 and a beta of 0.65. TKO Group Holdings, Inc. has a 52 week low of $133.07 and a 52 week high of $218.11. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.46 and a current ratio of 1.46.

TKO Group (NYSE:TKO – Get Free Report) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.11). TKO Group had a return on equity of 2.57% and a net margin of 5.27%.The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the business earned $0.28 earnings per share. The firm’s revenue for the quarter was down 27.3% on a year-over-year basis. As a group, analysts anticipate that TKO Group Holdings, Inc. will post 3.88 earnings per share for the current year.

TKO Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 1.5%. This is an increase from TKO Group’s previous quarterly dividend of $0.76. The ex-dividend date was Monday, December 15th. TKO Group’s dividend payout ratio (DPR) is 119.54%.

Insider Buying and Selling

In other news, CFO Andrew M. Schleimer sold 11,978 shares of the company’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $201.98, for a total value of $2,419,316.44. Following the completion of the sale, the chief financial officer directly owned 27,544 shares of the company’s stock, valued at $5,563,337.12. This represents a 30.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Nick Khan sold 37,425 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $204.01, for a total transaction of $7,635,074.25. Following the completion of the sale, the director owned 122,868 shares in the company, valued at $25,066,300.68. This represents a 23.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 167,862 shares of company stock valued at $34,020,148 over the last 90 days. 53.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TKO. BTIG Research boosted their target price on shares of TKO Group from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, December 31st. Weiss Ratings restated a “hold (c)” rating on shares of TKO Group in a research report on Monday, December 29th. TD Cowen reiterated a “buy” rating on shares of TKO Group in a research report on Monday, December 8th. JPMorgan Chase & Co. lifted their target price on TKO Group from $220.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, January 21st. Finally, Arete Research upgraded TKO Group to a “hold” rating in a research report on Wednesday, October 15th. Fourteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, TKO Group presently has an average rating of “Moderate Buy” and an average target price of $227.73.

Read Our Latest Stock Report on TKO Group

TKO Group Profile

(Free Report)

TKO Group Holdings (NYSE: TKO) is a global sports and entertainment company formed in 2023 through the combination of two major combat-sports businesses. The company brings together the mixed martial arts organization UFC and the sports entertainment business WWE under a single publicly traded holding company. TKO owns and manages a portfolio of live-event franchises, intellectual property, and media rights centered on combat and sports-entertainment content.

TKO’s core activities include the promotion and production of live events, the licensing and sale of broadcasting and streaming rights, and the development and commercialization of branded consumer products.

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