Principal Financial Group Inc. Has $6.14 Million Stake in Adeia Inc. (NASDAQ:ADEA)

Principal Financial Group Inc. cut its holdings in shares of Adeia Inc. (NASDAQ:ADEA) by 11.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 515,579 shares of the company’s stock after selling 66,410 shares during the quarter. Principal Financial Group Inc. owned about 0.47% of Adeia worth $6,141,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Adeia by 169.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 89,065 shares of the company’s stock worth $1,061,000 after acquiring an additional 55,979 shares during the period. Stephens Inc. AR boosted its position in shares of Adeia by 5.3% in the third quarter. Stephens Inc. AR now owns 593,636 shares of the company’s stock valued at $7,070,000 after acquiring an additional 29,889 shares during the period. Wedge Capital Management L L P NC grew its stake in shares of Adeia by 4.2% in the third quarter. Wedge Capital Management L L P NC now owns 105,188 shares of the company’s stock valued at $1,253,000 after acquiring an additional 4,283 shares in the last quarter. SG Americas Securities LLC raised its stake in Adeia by 243.7% in the 3rd quarter. SG Americas Securities LLC now owns 69,627 shares of the company’s stock worth $829,000 after purchasing an additional 49,367 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in Adeia in the 2nd quarter valued at about $404,000. Institutional investors own 97.36% of the company’s stock.

Adeia Stock Performance

NASDAQ ADEA opened at $11.52 on Thursday. Adeia Inc. has a 1 year low of $9.05 and a 1 year high of $14.24. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 31.72 and a beta of 1.44. The company has a current ratio of 3.42, a quick ratio of 3.42 and a debt-to-equity ratio of 1.32. The firm’s 50 day simple moving average is $12.11 and its 200 day simple moving average is $11.67.

Adeia Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.74%. Adeia’s dividend payout ratio (DPR) is currently 55.56%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ADEA. Rosenblatt Securities reiterated a “buy” rating and issued a $15.00 price target on shares of Adeia in a research report on Friday, November 8th. BWS Financial reissued a “buy” rating and set a $16.00 target price on shares of Adeia in a report on Monday, November 11th.

Adeia Profile

Adeia Inc, together with its subsidiaries, operates as a media and semiconductor intellectual property licensing company in the United States, Canada, Asia, Europe, the Middle East, and internationally. The company licenses its patent portfolios across various markets, including multichannel video programming distributors comprising cable, satellite, and telecommunications television providers that aggregate and distribute linear content over networks, as well as television providers that aggregate and stream linear content over broadband networks; over-the-top video service providers and social media companies, such as subscription video-on-demand and advertising-supported streaming service providers, as well as content providers, networks, and media companies.