Principal Financial Group Inc. Buys 5,223 Shares of Teekay Co. (NYSE:TK)

Principal Financial Group Inc. lifted its stake in shares of Teekay Co. (NYSE:TK) by 23.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,903 shares of the shipping company’s stock after acquiring an additional 5,223 shares during the quarter. Principal Financial Group Inc.’s holdings in Teekay were worth $257,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in TK. Dimensional Fund Advisors LP raised its holdings in Teekay by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,527,077 shares of the shipping company’s stock worth $49,579,000 after acquiring an additional 176,641 shares during the period. Renaissance Technologies LLC increased its stake in shares of Teekay by 19.2% in the second quarter. Renaissance Technologies LLC now owns 4,026,075 shares of the shipping company’s stock worth $36,114,000 after purchasing an additional 649,900 shares during the period. Acadian Asset Management LLC lifted its position in shares of Teekay by 2.9% during the 2nd quarter. Acadian Asset Management LLC now owns 1,763,197 shares of the shipping company’s stock worth $15,808,000 after purchasing an additional 50,077 shares during the last quarter. American Century Companies Inc. boosted its stake in Teekay by 27.2% during the 2nd quarter. American Century Companies Inc. now owns 1,546,328 shares of the shipping company’s stock valued at $13,871,000 after purchasing an additional 331,002 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Teekay by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 676,545 shares of the shipping company’s stock valued at $4,925,000 after buying an additional 50,444 shares during the last quarter. Institutional investors and hedge funds own 46.73% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com cut Teekay from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 28th.

Teekay Price Performance

NYSE TK opened at $7.76 on Tuesday. The company’s fifty day moving average is $8.50 and its two-hundred day moving average is $8.56. Teekay Co. has a 52-week low of $6.41 and a 52-week high of $9.95. The firm has a market capitalization of $712.68 million, a price-to-earnings ratio of 5.17 and a beta of 0.60.

Teekay Announces Dividend

The company also recently declared a — dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, December 4th. Teekay’s dividend payout ratio is 16.67%.

Teekay Company Profile

Teekay Corporation engages in the international crude oil and other marine transportation services worldwide. The company owns and operates crude oil and refined product tankers. It also provides ship-to-ship support services; tanker commercial management operation services; and operational and maintenance marine services.