Principal Financial Group Inc. Has $15.87 Million Stock Position in Clear Secure, Inc. (NYSE:YOU)

Principal Financial Group Inc. raised its stake in shares of Clear Secure, Inc. (NYSE:YOU) by 3,937.1% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 478,760 shares of the company’s stock after purchasing an additional 466,901 shares during the period. Principal Financial Group Inc.’s holdings in Clear Secure were worth $15,866,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Janus Henderson Group PLC grew its holdings in Clear Secure by 232.1% during the first quarter. Janus Henderson Group PLC now owns 115,282 shares of the company’s stock valued at $2,452,000 after purchasing an additional 80,569 shares during the period. Cornerstone Wealth Management LLC purchased a new position in shares of Clear Secure in the second quarter worth about $840,000. New York State Teachers Retirement System increased its holdings in shares of Clear Secure by 402.1% in the third quarter. New York State Teachers Retirement System now owns 38,376 shares of the company’s stock worth $1,272,000 after buying an additional 30,733 shares during the period. AQR Capital Management LLC increased its holdings in shares of Clear Secure by 68.8% in the second quarter. AQR Capital Management LLC now owns 453,262 shares of the company’s stock worth $8,481,000 after buying an additional 184,795 shares during the period. Finally, Janney Montgomery Scott LLC grew its stake in shares of Clear Secure by 6.4% in the third quarter. Janney Montgomery Scott LLC now owns 1,214,456 shares of the company’s stock worth $40,247,000 after purchasing an additional 73,303 shares during the last quarter. 73.80% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Michael Z. Barkin sold 25,000 shares of Clear Secure stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $28.64, for a total value of $716,000.00. Following the sale, the director now owns 7,056 shares in the company, valued at $202,083.84. This trade represents a 77.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Alclear Investments Ii, Llc sold 227,021 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $31.05, for a total transaction of $7,049,002.05. The disclosure for this sale can be found here. Insiders sold a total of 1,006,435 shares of company stock valued at $32,173,077 over the last 90 days. Insiders own 37.85% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on YOU shares. The Goldman Sachs Group lifted their price objective on Clear Secure from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Wedbush reiterated a “neutral” rating and set a $26.00 target price (up from $24.00) on shares of Clear Secure in a research note on Thursday, November 7th. Telsey Advisory Group boosted their price objective on shares of Clear Secure from $34.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Stifel Nicolaus upped their target price on shares of Clear Secure from $24.00 to $32.00 and gave the stock a “hold” rating in a report on Monday, October 28th. Finally, Needham & Company LLC reissued a “buy” rating and set a $45.00 price objective on shares of Clear Secure in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $32.67.

Clear Secure Price Performance

Shares of YOU stock opened at $26.23 on Friday. The company has a market capitalization of $3.65 billion, a P/E ratio of 30.50 and a beta of 1.63. The company’s 50-day simple moving average is $32.83 and its two-hundred day simple moving average is $25.10. Clear Secure, Inc. has a one year low of $16.05 and a one year high of $38.88.

Clear Secure (NYSE:YOU) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.03). The business had revenue of $198.40 million for the quarter, compared to the consensus estimate of $194.62 million. Clear Secure had a net margin of 10.93% and a return on equity of 48.28%. Clear Secure’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.20 earnings per share. On average, research analysts expect that Clear Secure, Inc. will post 1.01 EPS for the current fiscal year.

Clear Secure Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 10th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.91%. This is a boost from Clear Secure’s previous quarterly dividend of $0.10. Clear Secure’s dividend payout ratio (DPR) is currently 58.14%.

About Clear Secure

Clear Secure, Inc operates a secure identity platform under the CLEAR brand name primarily in the United States. Its secure identity platform is a multi-layered infrastructure consisting of front-end, including enrollment, verification, and linking, as well as back-end. The company also offers CLEAR Plus, a consumer aviation subscription service, which enables access to predictable entry lanes in airport security checkpoints, as well as access to broader network; and CLEAR mobile app, which is used to enroll new members and improve the experience for existing members.