Migdal Insurance & Financial Holdings Ltd. Cuts Stock Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Migdal Insurance & Financial Holdings Ltd. lowered its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 34.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 900 shares of the company’s stock after selling 468 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Phillips Edison & Company, Inc. were worth $33,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. ClariVest Asset Management LLC raised its stake in Phillips Edison & Company, Inc. by 73,077.5% during the third quarter. ClariVest Asset Management LLC now owns 29,271 shares of the company’s stock worth $981,000 after purchasing an additional 29,231 shares during the period. LPL Financial LLC raised its stake in shares of Phillips Edison & Company, Inc. by 36.9% in the 3rd quarter. LPL Financial LLC now owns 348,035 shares of the company’s stock valued at $11,673,000 after acquiring an additional 93,719 shares during the period. Mutual of America Capital Management LLC increased its stake in Phillips Edison & Company, Inc. by 54.2% during the 3rd quarter. Mutual of America Capital Management LLC now owns 78,593 shares of the company’s stock worth $2,636,000 after buying an additional 27,641 shares during the period. FMR LLC increased its stake in Phillips Edison & Company, Inc. by 4.0% during the 3rd quarter. FMR LLC now owns 4,874,206 shares of the company’s stock worth $163,481,000 after buying an additional 186,651 shares during the period. Finally, Asset Management One Co. Ltd. increased its stake in Phillips Edison & Company, Inc. by 7.9% during the 4th quarter. Asset Management One Co. Ltd. now owns 294,243 shares of the company’s stock worth $10,905,000 after buying an additional 21,481 shares during the period. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PECO. JPMorgan Chase & Co. dropped their price target on shares of Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft began coverage on shares of Phillips Edison & Company, Inc. in a research note on Tuesday, January 30th. They set a “buy” rating and a $41.00 price target on the stock. Finally, Mizuho raised shares of Phillips Edison & Company, Inc. from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $35.00 to $37.00 in a research note on Friday, February 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $38.14.

Phillips Edison & Company, Inc. Stock Performance

NASDAQ PECO opened at $32.41 on Friday. Phillips Edison & Company, Inc. has a one year low of $27.85 and a one year high of $37.92. The company has a 50-day simple moving average of $34.80 and a 200-day simple moving average of $35.03. The firm has a market capitalization of $3.96 billion, a PE ratio of 70.46, a price-to-earnings-growth ratio of 3.61 and a beta of 0.55.

Phillips Edison & Company, Inc. Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be given a $0.0975 dividend. This is a boost from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. The ex-dividend date of this dividend is Friday, April 12th. This represents a $1.17 annualized dividend and a yield of 3.61%. Phillips Edison & Company, Inc.’s dividend payout ratio is 254.35%.

About Phillips Edison & Company, Inc.

Phillips Edison & Company, Inc (PECO) is one of the nation's largest owners and operators of omni-channel grocery-anchored shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers.