CANADA LIFE ASSURANCE Co Sells 834 Shares of Inter Parfums, Inc. (NASDAQ:IPAR)

CANADA LIFE ASSURANCE Co lowered its stake in Inter Parfums, Inc. (NASDAQ:IPAR) by 4.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,892 shares of the company’s stock after selling 834 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.06% of Inter Parfums worth $2,616,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Inter Parfums by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 2,050,621 shares of the company’s stock worth $269,677,000 after purchasing an additional 20,721 shares during the period. Victory Capital Management Inc. increased its stake in shares of Inter Parfums by 55.0% in the fourth quarter. Victory Capital Management Inc. now owns 563,646 shares of the company’s stock worth $74,125,000 after buying an additional 200,079 shares during the period. American Century Companies Inc. increased its stake in shares of Inter Parfums by 23.3% in the fourth quarter. American Century Companies Inc. now owns 453,993 shares of the company’s stock worth $59,705,000 after buying an additional 85,871 shares during the period. Invesco Ltd. boosted its position in Inter Parfums by 4.1% during the 4th quarter. Invesco Ltd. now owns 362,518 shares of the company’s stock valued at $47,675,000 after buying an additional 14,254 shares during the period. Finally, Bahl & Gaynor Inc. boosted its position in Inter Parfums by 18.5% during the 4th quarter. Bahl & Gaynor Inc. now owns 321,845 shares of the company’s stock valued at $42,326,000 after buying an additional 50,247 shares during the period. Institutional investors own 55.57% of the company’s stock.

Analyst Upgrades and Downgrades

IPAR has been the subject of several recent analyst reports. Canaccord Genuity Group upped their price objective on shares of Inter Parfums from $158.00 to $168.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. BWS Financial reiterated a “buy” rating and issued a $172.00 price objective on shares of Inter Parfums in a research report on Monday, March 17th. DA Davidson reissued a “buy” rating and set a $170.00 target price on shares of Inter Parfums in a research note on Tuesday, March 25th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $138.00 price target (down previously from $169.00) on shares of Inter Parfums in a research note on Thursday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $157.60.

Inter Parfums Trading Up 1.1 %

NASDAQ IPAR opened at $108.45 on Friday. The firm has a market capitalization of $3.48 billion, a PE ratio of 23.27 and a beta of 1.15. The stock’s 50 day moving average is $119.03 and its 200 day moving average is $127.40. Inter Parfums, Inc. has a twelve month low of $97.65 and a twelve month high of $148.15. The company has a quick ratio of 1.60, a current ratio of 2.82 and a debt-to-equity ratio of 0.14.

Inter Parfums (NASDAQ:IPAR) last announced its earnings results on Tuesday, February 25th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.05). The business had revenue of $361.50 million for the quarter, compared to the consensus estimate of $361.56 million. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. Research analysts forecast that Inter Parfums, Inc. will post 5.14 earnings per share for the current fiscal year.

Inter Parfums Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.95%. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Friday, March 14th. Inter Parfums’s dividend payout ratio (DPR) is presently 62.87%.

About Inter Parfums

Inter Parfums, Inc, together with its subsidiaries, manufactures, markets, and distributes a range of fragrances and fragrance related products in the United States and internationally. It operates in two segments, European Based Operations and United States Based Operations. The company offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Kate Spade, Lanvin, Moncler, Montblanc, Rochas, S.T.