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Phillips Edison & Company, Inc. (NASDAQ:PECO) Is ACG Wealth's 8th Largest Position

Financial News Live · Jan 20, 2023 12:41

ACG Wealth lowered its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Rating) by 0.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 329,486 shares of the company's stock after selling 909 shares during the quarter. Phillips Edison & Company, Inc. comprises about 2.1% of ACG Wealth's holdings, making the stock its 8th largest position. ACG Wealth owned 0.29% of Phillips Edison & Company, Inc. worth $9,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of PECO. Vanguard Group Inc. raised its stake in shares of Phillips Edison & Company, Inc. by 579.0% in the 1st quarter. Vanguard Group Inc. now owns 10,505,954 shares of the company's stock valued at $361,300,000 after acquiring an additional 8,958,751 shares during the period. BlackRock Inc. boosted its holdings in Phillips Edison & Company, Inc. by 443.8% in the 1st quarter. BlackRock Inc. now owns 7,310,113 shares of the company's stock worth $251,393,000 after acquiring an additional 5,965,943 shares during the period. Wellington Management Group LLP grew its position in Phillips Edison & Company, Inc. by 313.4% in the first quarter. Wellington Management Group LLP now owns 7,725,477 shares of the company's stock valued at $265,679,000 after acquiring an additional 5,856,834 shares in the last quarter. State Street Corp raised its stake in shares of Phillips Edison & Company, Inc. by 128.1% during the second quarter. State Street Corp now owns 4,480,286 shares of the company's stock valued at $149,905,000 after purchasing an additional 2,516,281 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Phillips Edison & Company, Inc. by 26.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,592,250 shares of the company's stock worth $186,837,000 after purchasing an additional 1,176,159 shares in the last quarter. 70.90% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Transactions at Phillips Edison & Company, Inc.

In other news, Director Paul Massey sold 9,600 shares of the company's stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $31.42, for a total transaction of $301,632.00. Following the completion of the transaction, the director now owns 10,439 shares in the company, valued at $327,993.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 7.90% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Credit Suisse Group raised shares of Phillips Edison & Company, Inc. from a "neutral" rating to an "outperform" rating in a research note on Monday, January 9th. Mizuho dropped their price objective on Phillips Edison & Company, Inc. from $35.00 to $31.00 and set a "neutral" rating on the stock in a report on Friday, November 11th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $33.20.

Phillips Edison & Company, Inc. Price Performance

Shares of PECO stock traded down $0.38 on Friday, hitting $32.02. 2,045 shares of the stock traded hands, compared to its average volume of 554,958. The company has a market capitalization of $3.75 billion, a PE ratio of 129.60, a PEG ratio of 2.21 and a beta of 0.59. Phillips Edison & Company, Inc. has a 1-year low of $27.07 and a 1-year high of $36.31. The company's fifty day moving average is $32.11 and its 200 day moving average is $31.90.

Phillips Edison & Company, Inc. Dividend Announcement

The business also recently announced a dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Thursday, December 15th were issued a dividend of $0.0933 per share. This represents a dividend yield of 3.44%. The ex-dividend date of this dividend was Wednesday, December 14th. Phillips Edison & Company, Inc.'s dividend payout ratio (DPR) is presently 448.00%.

Phillips Edison & Company, Inc. Company Profile

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Phillips Edison & Company, Inc (PECO), an internally-managed REIT, is one of the nation's largest owners and operators of grocery-anchored shopping centers. PECO's diversified portfolio of well-occupied neighborhood shopping centers features a mix of national and regional retailers selling necessity-based goods and services in fundamentally strong markets throughout the United States.