Principal Financial Group Inc. Reduces Stock Position in Golar LNG Limited (NASDAQ:GLNG)

Principal Financial Group Inc. decreased its holdings in Golar LNG Limited (NASDAQ:GLNG) by 28.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,904 shares of the shipping company’s stock after selling 2,800 shares during the period. Principal Financial Group Inc.’s holdings in Golar LNG were worth $254,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lowe Wealth Advisors LLC bought a new position in shares of Golar LNG in the second quarter worth about $45,000. Blue Trust Inc. lifted its holdings in shares of Golar LNG by 105.1% in the 3rd quarter. Blue Trust Inc. now owns 1,372 shares of the shipping company’s stock worth $50,000 after buying an additional 703 shares during the period. Sound Income Strategies LLC bought a new position in shares of Golar LNG during the 3rd quarter worth $52,000. EverSource Wealth Advisors LLC raised its holdings in shares of Golar LNG by 206.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,727 shares of the shipping company’s stock valued at $54,000 after acquiring an additional 1,163 shares in the last quarter. Finally, CWM LLC lifted its stake in Golar LNG by 830.9% in the third quarter. CWM LLC now owns 1,657 shares of the shipping company’s stock worth $61,000 after acquiring an additional 1,479 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Golar LNG Price Performance

NASDAQ GLNG opened at $41.24 on Tuesday. The stock’s fifty day moving average price is $36.69 and its 200 day moving average price is $32.93. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.28. The company has a market cap of $4.31 billion, a price-to-earnings ratio of 294.00 and a beta of 0.58. Golar LNG Limited has a 1 year low of $19.94 and a 1 year high of $41.54.

Golar LNG Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 25th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Monday, November 25th. Golar LNG’s payout ratio is 714.29%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GLNG shares. StockNews.com raised shares of Golar LNG to a “sell” rating in a research report on Wednesday, November 13th. Fearnley Fonds downgraded shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Golar LNG from $43.00 to $56.00 and gave the company a “buy” rating in a report on Friday, August 16th. Finally, Stifel Nicolaus dropped their target price on Golar LNG from $55.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $49.63.

About Golar LNG

Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities.