Sumitomo Mitsui Trust Group Inc. Decreases Stake in Franco-Nevada Co. (NYSE:FNV)

Sumitomo Mitsui Trust Group Inc. lowered its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 7.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,796 shares of the basic materials company’s stock after selling 140 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Franco-Nevada were worth $211,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC acquired a new stake in Franco-Nevada during the fourth quarter worth approximately $47,000. Point72 DIFC Ltd acquired a new stake in Franco-Nevada during the third quarter worth approximately $52,000. Erste Asset Management GmbH acquired a new stake in Franco-Nevada during the third quarter worth approximately $55,000. Birch Capital Management LLC raised its holdings in Franco-Nevada by 37.9% during the fourth quarter. Birch Capital Management LLC now owns 1,085 shares of the basic materials company’s stock worth $128,000 after purchasing an additional 298 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in Franco-Nevada during the third quarter worth approximately $147,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Performance

Shares of FNV opened at $138.37 on Friday. The stock has a market capitalization of $26.64 billion, a P/E ratio of -43.79, a P/E/G ratio of 9.88 and a beta of 0.74. The company’s fifty day moving average is $127.17 and its two-hundred day moving average is $125.31. Franco-Nevada Co. has a 1 year low of $103.64 and a 1 year high of $144.27.

Franco-Nevada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $0.38 dividend. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 1.10%. The ex-dividend date is Thursday, March 13th. Franco-Nevada’s payout ratio is currently -45.57%.

Analysts Set New Price Targets

FNV has been the topic of a number of research analyst reports. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Royal Bank of Canada raised their price objective on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. UBS Group assumed coverage on shares of Franco-Nevada in a report on Monday, November 18th. They set a “buy” rating and a $160.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $155.00 target price on shares of Franco-Nevada in a report on Tuesday, January 28th. Finally, Scotiabank cut their target price on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Franco-Nevada currently has an average rating of “Moderate Buy” and a consensus target price of $146.71.

Franco-Nevada Company Profile

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.