The Manufacturers Life Insurance Company Has $19.18 Million Holdings in On Holding AG $ONON

The Manufacturers Life Insurance Company lowered its stake in shares of On Holding AG (NYSE:ONON) by 3.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 563,920 shares of the company’s stock after selling 18,239 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.09% of ON worth $19,185,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Quantinno Capital Management LP raised its position in shares of ON by 89.6% during the first quarter. Quantinno Capital Management LP now owns 66,947 shares of the company’s stock valued at $2,278,000 after buying an additional 31,641 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new position in ON in the 1st quarter valued at approximately $5,694,000. Lombard Odier Asset Management Europe Ltd bought a new stake in shares of ON in the 1st quarter worth approximately $1,998,000. State of Wyoming grew its holdings in shares of ON by 132.6% during the 1st quarter. State of Wyoming now owns 4,508 shares of the company’s stock worth $153,000 after purchasing an additional 2,570 shares in the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of ON by 2.8% during the 1st quarter. Cetera Investment Advisers now owns 57,437 shares of the company’s stock worth $1,954,000 after purchasing an additional 1,557 shares in the last quarter. 36.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ONON. Truist Financial cut their target price on ON from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Barclays dropped their price objective on shares of ON from $57.00 to $46.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Weiss Ratings raised shares of ON from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, May 12th. Telsey Advisory Group cut their price target on shares of ON from $60.00 to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Finally, KeyCorp lowered their price objective on ON from $58.00 to $43.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, ON currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.63.

Insider Activity at ON

In other news, insider Olivier Bernhard bought 60,000 shares of the stock in a transaction dated Thursday, May 14th. The stock was bought at an average cost of $36.63 per share, with a total value of $2,197,800.00. Following the purchase, the insider owned 5,163,184 shares of the company’s stock, valued at approximately $189,127,429.92. This represents a 1.18% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Caspar Felix Coppetti acquired 60,000 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were purchased at an average cost of $36.64 per share, with a total value of $2,198,400.00. Following the completion of the acquisition, the chief executive officer directly owned 2,375,855 shares in the company, valued at approximately $87,051,327.20. The trade was a 2.59% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased a total of 180,000 shares of company stock valued at $6,594,000 over the last quarter. Corporate insiders own 68.57% of the company’s stock.

ON Stock Down 2.1%

Shares of ONON opened at $36.34 on Friday. The company has a market capitalization of $23.19 billion, a P/E ratio of 39.07, a PEG ratio of 0.68 and a beta of 2.12. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.98 and a quick ratio of 2.39. On Holding AG has a one year low of $31.41 and a one year high of $52.20. The business’s 50 day simple moving average is $37.56 and its 200-day simple moving average is $39.30.

ON (NYSE:ONON) last posted its quarterly earnings data on Tuesday, May 12th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.11. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. ON had a return on equity of 15.72% and a net margin of 7.92%.The business’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.21 earnings per share. As a group, sell-side analysts predict that On Holding AG will post 1.5 EPS for the current fiscal year.

ON Profile

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.