Paramount Global (NASDAQ:PARA) Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. lowered its position in Paramount Global (NASDAQ:PARA) by 11.9% in the fourth quarter, HoldingsChannel reports. The fund owned 30,472 shares of the company’s stock after selling 4,132 shares during the quarter. Securian Asset Management Inc.’s holdings in Paramount Global were worth $451,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PARA. VisionPoint Advisory Group LLC acquired a new position in shares of Paramount Global in the third quarter worth about $25,000. Anchor Investment Management LLC acquired a new position in shares of Paramount Global in the fourth quarter worth about $30,000. Archer Investment Corp acquired a new position in shares of Paramount Global in the fourth quarter worth about $30,000. NBC Securities Inc. acquired a new position in shares of Paramount Global in the third quarter worth about $38,000. Finally, Cornerstone Planning Group LLC raised its position in shares of Paramount Global by 55.1% in the third quarter. Cornerstone Planning Group LLC now owns 2,972 shares of the company’s stock worth $38,000 after acquiring an additional 1,056 shares during the period. Institutional investors and hedge funds own 73.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PARA. Rosenblatt Securities reiterated a “neutral” rating and issued a $13.00 price objective on shares of Paramount Global in a research report on Tuesday, April 9th. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. Wells Fargo & Company reduced their price target on shares of Paramount Global from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 30th. Benchmark restated a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research report on Tuesday, April 30th. Finally, Needham & Company LLC downgraded shares of Paramount Global from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Nine investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $13.58.

Paramount Global Price Performance

Paramount Global stock opened at $11.79 on Friday. The stock has a market cap of $7.86 billion, a P/E ratio of -78.59, a price-to-earnings-growth ratio of 0.37 and a beta of 1.74. The company has a fifty day simple moving average of $11.99 and a 200-day simple moving average of $12.99. Paramount Global has a 12-month low of $10.12 and a 12-month high of $17.50. The company has a current ratio of 1.29, a quick ratio of 1.19 and a debt-to-equity ratio of 0.65.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings data on Monday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.28. The business had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.73 billion. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.35%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.09 EPS. Equities analysts expect that Paramount Global will post 1.32 EPS for the current fiscal year.

Paramount Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.70%. Paramount Global’s dividend payout ratio (DPR) is currently -133.32%.

Paramount Global Profile

Paramount Global operates as a media, streaming, and entertainment company worldwide. It operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. The TV Media segment operates CBS Television Network, a domestic broadcast television network; CBS Stations, a television station; and international free-to-air networks comprising Network 10, Channel 5, Telefe, and Chilevisión; domestic premium and basic cable networks, such as Paramount+ with Showtime, MTV, Comedy Central, Paramount Network, The Smithsonian Channel, Nickelodeon, BET Media Group, and CBS Sports Network; and international extensions of these brands.