Pictet Asset Management SA Decreases Holdings in ICL Group Ltd (NYSE:ICL)

Pictet Asset Management SA cut its holdings in shares of ICL Group Ltd (NYSE:ICLGet Rating) by 13.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 191,127 shares of the basic materials company’s stock after selling 30,460 shares during the quarter. Pictet Asset Management SA’s holdings in ICL Group were worth $1,729,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in ICL. SJS Investment Consulting Inc. bought a new position in shares of ICL Group in the first quarter worth approximately $30,000. EverSource Wealth Advisors LLC grew its holdings in shares of ICL Group by 1,482.8% in the second quarter. EverSource Wealth Advisors LLC now owns 3,403 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 3,188 shares during the last quarter. Advisor Group Holdings Inc. grew its holdings in shares of ICL Group by 1,091.3% in the first quarter. Advisor Group Holdings Inc. now owns 3,002 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 2,750 shares during the last quarter. Lindbrook Capital LLC grew its holdings in shares of ICL Group by 26.4% in the second quarter. Lindbrook Capital LLC now owns 5,075 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 1,059 shares during the last quarter. Finally, Total Clarity Wealth Management Inc. bought a new position in shares of ICL Group in the second quarter worth approximately $54,000.

ICL Group Stock Performance

NYSE:ICL opened at $8.11 on Tuesday. The stock has a market cap of $10.64 billion, a P/E ratio of 4.98, a price-to-earnings-growth ratio of 0.95 and a beta of 1.10. The firm’s fifty day simple moving average is $8.54 and its 200 day simple moving average is $9.50. ICL Group Ltd has a twelve month low of $7.92 and a twelve month high of $12.96. The company has a quick ratio of 1.01, a current ratio of 1.65 and a debt-to-equity ratio of 0.42.

ICL Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 14th. Shareholders of record on Wednesday, November 30th will be given a dividend of $0.2435 per share. This represents a $0.97 annualized dividend and a yield of 12.01%. The ex-dividend date of this dividend is Tuesday, November 29th. ICL Group’s dividend payout ratio is currently 56.44%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ICL shares. StockNews.com started coverage on shares of ICL Group in a report on Wednesday, October 12th. They issued a “strong-buy” rating on the stock. BMO Capital Markets cut their price target on shares of ICL Group from $10.00 to $9.50 and set a “market perform” rating on the stock in a report on Thursday, November 10th. Finally, Barclays cut their price target on shares of ICL Group from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Thursday, November 17th. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, ICL Group presently has a consensus rating of “Hold” and an average price target of $10.50.

About ICL Group

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ICL Group Ltd, together with its subsidiaries, operates as a specialty minerals and chemicals company worldwide. It operates in four segments: Industrial Products, Potash, Phosphate Solutions, and Innovative Ag Solutions (IAS). The Industrial Products segment produces bromine out of a solution that is a by-product of the potash production process, as well as bromine-based compounds; produces various grades of potash, salt, magnesium chloride, and magnesia products; and produces and markets phosphorous-based flame retardants and other phosphorus-based products.

Further Reading

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Institutional Ownership by Quarter for ICL Group (NYSE:ICL)

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