Principal Financial Group Inc. Cuts Position in International Game Technology PLC (NYSE:IGT)

Posted by admin on Aug 25th, 2022

Principal Financial Group Inc. lessened its holdings in International Game Technology PLC (NYSE:IGT – Get Rating) by 11.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 407,389 shares of the company’s stock after selling 50,328 shares during the period. Principal Financial Group Inc. owned about 0.20% of International Game Technology worth $10,054,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Steward Partners Investment Advisory LLC increased its stake in shares of International Game Technology by 100.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,200 shares of the company’s stock valued at $35,000 after purchasing an additional 600 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of International Game Technology by 1,028.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 7,468 shares of the company’s stock valued at $215,000 after purchasing an additional 6,806 shares in the last quarter. Measured Wealth Private Client Group LLC increased its stake in shares of International Game Technology by 65.3% in the 1st quarter. Measured Wealth Private Client Group LLC now owns 12,979 shares of the company’s stock valued at $320,000 after purchasing an additional 5,128 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of International Game Technology by 4.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,138 shares of the company’s stock valued at $322,000 after purchasing an additional 437 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its stake in shares of International Game Technology by 11.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 13,695 shares of the company’s stock valued at $337,000 after purchasing an additional 1,364 shares in the last quarter. Hedge funds and other institutional investors own 44.33% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on IGT shares. Deutsche Bank Aktiengesellschaft cut their price target on International Game Technology from $35.00 to $30.00 in a research note on Wednesday, August 3rd. Jefferies Financial Group upgraded International Game Technology from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $30.00 to $26.00 in a report on Thursday, May 12th. Truist Financial lowered their price objective on International Game Technology from $36.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, July 20th. StockNews.com cut International Game Technology from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Stifel Nicolaus lowered their price objective on International Game Technology from $36.00 to $26.00 in a report on Monday, August 1st. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $35.00.

International Game Technology Trading Down 0.5 %

Shares of International Game Technology stock opened at $19.89 on Thursday. The stock has a market cap of $4.05 billion, a P/E ratio of 25.83 and a beta of 1.83. The stock’s 50 day simple moving average is $19.50 and its 200-day simple moving average is $22.31. International Game Technology PLC has a 1-year low of $16.46 and a 1-year high of $32.95. The company has a debt-to-equity ratio of 3.53, a current ratio of 1.56 and a quick ratio of 1.44.

International Game Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 30th. Stockholders of record on Tuesday, August 16th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.02%. The ex-dividend date is Monday, August 15th. International Game Technology’s dividend payout ratio is currently 103.90%.

International Game Technology Company Profile

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International Game Technology PLC operates and provides gaming technology products and services in North America, Europe, the Middle East, Africa, Asia-Pacific, Latin America, and the Caribbean. It operates in three segments: Global Lottery, Global Gaming, and Digital & Betting. The company designs, sells, operates, and leases a suite of point-of-sale machines that reconciles lottery funds between the retailer and lottery authority; provides online lottery transaction processing systems; produces instant ticket games; and offers printing services, such as instant ticket marketing plans and graphic design, programming, packaging, shipping, and delivery services.