Tokio Marine Asset Management Co. Ltd. Increases Holdings in Paramount Global (NASDAQ:PARA)

Posted by Defense World Staff on Apr 10th, 2023

Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Paramount Global (NASDAQ:PARA – Get Rating) by 4.6% during the 4th quarter, HoldingsChannel reports. The firm owned 11,034 shares of the company’s stock after buying an additional 485 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Paramount Global were worth $186,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Money Concepts Capital Corp bought a new stake in shares of Paramount Global in the third quarter valued at about $25,000. Ellevest Inc. purchased a new stake in shares of Paramount Global in the 3rd quarter worth approximately $25,000. General Partner Inc. bought a new position in shares of Paramount Global during the fourth quarter valued at approximately $27,000. Armstrong Advisory Group Inc. purchased a new position in Paramount Global during the fourth quarter valued at approximately $28,000. Finally, Annapolis Financial Services LLC raised its stake in Paramount Global by 404.9% in the fourth quarter. Annapolis Financial Services LLC now owns 1,641 shares of the company’s stock worth $28,000 after buying an additional 1,316 shares in the last quarter. 74.13% of the stock is owned by institutional investors.

Paramount Global Trading Up 3.1 %

NASDAQ PARA opened at $21.66 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.11 and a current ratio of 1.23. The firm has a market cap of $14.09 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 3.78 and a beta of 1.64. The firm has a 50 day simple moving average of $21.97 and a 200-day simple moving average of $19.94. Paramount Global has a one year low of $15.29 and a one year high of $37.00.

Paramount Global (NASDAQ:PARA – Get Rating) last issued its quarterly earnings results on Thursday, February 16th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.10). Paramount Global had a net margin of 3.66% and a return on equity of 5.03%. The business had revenue of $8.13 billion during the quarter, compared to analysts’ expectations of $8.16 billion. During the same period in the prior year, the business earned $0.26 EPS. The business’s quarterly revenue was up 1.6% on a year-over-year basis. Equities research analysts anticipate that Paramount Global will post 0.65 EPS for the current fiscal year.

Paramount Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 3rd. Shareholders of record on Monday, March 20th were issued a dividend of $0.24 per share. The ex-dividend date was Friday, March 17th. This represents a $0.96 annualized dividend and a yield of 4.43%. Paramount Global’s dividend payout ratio (DPR) is 60.00%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PARA. Loop Capital lowered Paramount Global from a “hold” rating to a “sell” rating and cut their target price for the company from $30.00 to $14.00 in a research note on Friday, December 23rd. Needham & Company LLC boosted their price objective on shares of Paramount Global from $23.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, February 17th. Benchmark reissued a “buy” rating and set a $31.00 target price on shares of Paramount Global in a research report on Wednesday, February 15th. Morgan Stanley reduced their price target on Paramount Global from $15.00 to $14.00 and set an “underweight” rating on the stock in a research report on Monday, December 19th. Finally, Rosenblatt Securities reissued a “sell” rating and issued a $13.00 price objective on shares of Paramount Global in a research report on Wednesday, March 22nd. Eleven equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Paramount Global currently has an average rating of “Hold” and a consensus price target of $22.45.

Paramount Global Company Profile

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Paramount Global operates as a mass media company, which creates and distributes content across a variety of platforms to audiences around the world. It operates its business through the following segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment is composed of the CBS Television Network, CBS Television Studios, CBS Studios International, CBS Television Distribution, CBS Interactive, and CBS Films, as well as the company’s digital streaming services, CBS All Access and CBSN.