Principal Financial Group Inc. Grows Stock Holdings in Wheaton Precious Metals Corp. (NYSE:WPM)

Principal Financial Group Inc. increased its position in Wheaton Precious Metals Corp. (NYSE:WPM) by 1.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 19,761 shares of the company’s stock after buying an additional 196 shares during the period. Principal Financial Group Inc.’s holdings in Wheaton Precious Metals were worth $1,208,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Abich Financial Wealth Management LLC bought a new position in shares of Wheaton Precious Metals in the second quarter worth about $31,000. Sunbelt Securities Inc. purchased a new position in Wheaton Precious Metals in the 2nd quarter worth approximately $47,000. St. Johns Investment Management Company LLC bought a new position in Wheaton Precious Metals in the 3rd quarter worth approximately $48,000. Dunhill Financial LLC grew its holdings in Wheaton Precious Metals by 200.9% during the 3rd quarter. Dunhill Financial LLC now owns 1,050 shares of the company’s stock valued at $64,000 after buying an additional 701 shares in the last quarter. Finally, First Horizon Advisors Inc. bought a new stake in shares of Wheaton Precious Metals during the third quarter valued at approximately $67,000. Hedge funds and other institutional investors own 70.34% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on WPM shares. UBS Group began coverage on shares of Wheaton Precious Metals in a research report on Monday, November 18th. They set a “buy” rating and a $78.00 target price for the company. National Bank Financial raised shares of Wheaton Precious Metals from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Raymond James lifted their target price on Wheaton Precious Metals from $74.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. TD Securities raised their price target on Wheaton Precious Metals from $74.00 to $75.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Jefferies Financial Group upped their price objective on Wheaton Precious Metals from $67.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, October 4th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $71.67.

Wheaton Precious Metals Stock Down 0.9 %

Shares of WPM opened at $57.54 on Friday. Wheaton Precious Metals Corp. has a 52-week low of $38.57 and a 52-week high of $68.64. The business has a fifty day moving average of $61.18 and a 200 day moving average of $60.16. The company has a market cap of $26.10 billion, a PE ratio of 42.94, a P/E/G ratio of 1.67 and a beta of 0.76.

Wheaton Precious Metals (NYSE:WPM) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.34. The business had revenue of $308.25 million during the quarter, compared to the consensus estimate of $324.57 million. Wheaton Precious Metals had a net margin of 50.05% and a return on equity of 8.85%. During the same quarter last year, the firm earned $0.27 earnings per share. As a group, research analysts anticipate that Wheaton Precious Metals Corp. will post 1.44 earnings per share for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Thursday, November 21st were given a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 1.08%. The ex-dividend date was Thursday, November 21st. Wheaton Precious Metals’s dividend payout ratio (DPR) is presently 46.27%.

Wheaton Precious Metals Profile

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.