Principal Financial Group Inc. Acquires New Stake in Paramount Skydance Corporation $PSKY

Principal Financial Group Inc. bought a new position in Paramount Skydance Corporation (NASDAQ:PSKY) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 336,291 shares of the company’s stock, valued at approximately $6,363,000.

A number of other institutional investors have also recently made changes to their positions in PSKY. Cullen Investment Group LTD. bought a new position in shares of Paramount Skydance during the 3rd quarter worth $462,000. Czech National Bank bought a new position in Paramount Skydance during the third quarter worth about $1,484,000. Wedmont Private Capital purchased a new position in shares of Paramount Skydance in the third quarter worth about $261,000. Hedges Asset Management LLC bought a new stake in shares of Paramount Skydance in the third quarter valued at approximately $248,000. Finally, Contravisory Investment Management Inc. purchased a new stake in shares of Paramount Skydance during the 3rd quarter valued at approximately $751,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PSKY. Wells Fargo & Company lifted their price objective on shares of Paramount Skydance from $16.00 to $18.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 11th. Evercore lifted their price target on Paramount Skydance from $12.00 to $14.00 and gave the company an “in-line” rating in a research report on Tuesday, November 11th. Benchmark increased their price objective on Paramount Skydance from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Wall Street Zen raised Paramount Skydance to a “hold” rating in a report on Saturday, November 15th. Finally, JPMorgan Chase & Co. upped their price target on Paramount Skydance from $10.00 to $14.00 and gave the company an “underweight” rating in a research report on Tuesday, November 4th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and eight have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $14.00.

Paramount Skydance Stock Performance

Shares of PSKY stock opened at $10.32 on Friday. The stock has a market capitalization of $11.06 billion, a P/E ratio of -343.89 and a beta of 1.23. Paramount Skydance Corporation has a 52-week low of $9.95 and a 52-week high of $20.86. The stock has a fifty day simple moving average of $12.38. The company has a quick ratio of 1.16, a current ratio of 1.34 and a debt-to-equity ratio of 1.00.

Paramount Skydance Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Thursday, December 18th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Thursday, December 18th. Paramount Skydance’s dividend payout ratio (DPR) is -666.67%.

About Paramount Skydance

Paramount Skydance Media Group (Nasdaq: PSKY) is a media and entertainment company created through the proposed combination of Paramount Global’s filmed entertainment and streaming operations with Skydance Media, a privately held content studio. The combined business will encompass the development, production and distribution of feature films, television programming and digital content, drawing on a library of legacy Paramount Pictures franchises alongside Skydance’s blockbuster tentpoles and animation slate.