Trade Report: The Principal Financial Group Inc. Acquires 177,630 Shares of Allison Transmission Holdings Inc (ALSN)

The Principal Financial Group Inc. Acquires 177,630 Shares of Allison Transmission Holdings Inc (ALSN)

Principal Financial Group Inc. boosted its stake in Allison Transmission Holdings Inc (NASDAQ:ALSN) by 70.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 429,387 shares of the company’s stock after buying an additional 177,630 shares during the period. Principal Financial Group Inc. owned about 0.26% of Allison Transmission Holdings worth $12,122,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC increased its stake in Allison Transmission Holdings by 99.6% in the second quarter. Acrospire Investment Management LLC now owns 6,013 shares of the company’s stock valued at $170,000 after buying an additional 3,000 shares during the period. SG Americas Securities LLC purchased a new stake in Allison Transmission Holdings during the second quarter valued at about $177,000. Societe Generale purchased a new stake in Allison Transmission Holdings during the second quarter valued at about $177,000. Blair William & Co. IL purchased a new stake in Allison Transmission Holdings during the second quarter valued at about $203,000. Finally, Northern Capital Management LLC purchased a new stake in Allison Transmission Holdings during the second quarter valued at about $208,000.

Shares of Allison Transmission Holdings Inc (NASDAQ:ALSN) opened at 28.10 on Wednesday. The company has a market cap of $4.71 billion and a P/E ratio of 28.67. Allison Transmission Holdings Inc has a 52-week low of $20.56 and a 52-week high of $30.52. The stock has a 50 day moving average of $27.85 and a 200 day moving average of $27.98.

Allison Transmission Holdings (NASDAQ:ALSN) last issued its earnings results on Wednesday, July 27th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by $0.28. The firm had revenue of $475 million for the quarter, compared to the consensus estimate of $475.26 million. The company’s revenue was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 earnings per share. On average, equities analysts anticipate that Allison Transmission Holdings Inc will post $1.10 earnings per share for the current fiscal year.

ALSN has been the topic of several analyst reports. Zacks Investment Research raised shares of Allison Transmission Holdings from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Tuesday, July 12th. Credit Suisse Group AG reaffirmed a “focus list” rating and set a $32.00 price target on shares of Allison Transmission Holdings in a research note on Wednesday, September 7th. Deutsche Bank AG started coverage on shares of Allison Transmission Holdings in a research note on Tuesday, September 6th. They set a “hold” rating and a $30.00 price target on the stock. Citigroup Inc. reissued a “neutral” rating and issued a $30.00 target price (up previously from $28.00) on shares of Allison Transmission Holdings in a research report on Friday, July 29th. Finally, Credit Agricole SA started coverage on shares of Allison Transmission Holdings in a research report on Friday, September 30th. They issued an “outperform” rating and a $31.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Allison Transmission Holdings has a consensus rating of “Buy” and a consensus price target of $31.00.

In other news, SVP Randall R. Kirk sold 93,210 shares of the firm’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $27.87, for a total value of $2,597,762.70. Following the transaction, the senior vice president now owns 49,693 shares of the company’s stock, valued at approximately $1,384,943.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sharon L. Dean sold 5,500 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $28.15, for a total transaction of $154,825.00. Following the completion of the transaction, the vice president now directly owns 7,906 shares in the company, valued at approximately $222,553.90. The disclosure for this sale can be found here.

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