Principal Financial Group Inc. Has $6.84 Million Stock Position in Dorian LPG Ltd. (NYSE:LPG)

Principal Financial Group Inc. decreased its holdings in shares of Dorian LPG Ltd. (NYSE:LPG) by 6.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 198,742 shares of the shipping company’s stock after selling 12,721 shares during the quarter. Principal Financial Group Inc. owned approximately 0.49% of Dorian LPG worth $6,841,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. grew its stake in Dorian LPG by 22.4% in the 2nd quarter. Pacer Advisors Inc. now owns 3,063,551 shares of the shipping company’s stock valued at $128,547,000 after buying an additional 560,325 shares during the last quarter. Vanguard Group Inc. grew its stake in Dorian LPG by 16.7% in the 1st quarter. Vanguard Group Inc. now owns 2,133,837 shares of the shipping company’s stock valued at $82,067,000 after buying an additional 305,818 shares during the last quarter. American Century Companies Inc. grew its stake in Dorian LPG by 14.2% in the 2nd quarter. American Century Companies Inc. now owns 1,063,865 shares of the shipping company’s stock valued at $44,640,000 after buying an additional 132,542 shares during the last quarter. Marshall Wace LLP grew its stake in Dorian LPG by 435.3% in the 2nd quarter. Marshall Wace LLP now owns 457,119 shares of the shipping company’s stock valued at $19,181,000 after buying an additional 371,724 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its holdings in Dorian LPG by 5.5% in the 2nd quarter. First Eagle Investment Management LLC now owns 281,475 shares of the shipping company’s stock valued at $11,811,000 after purchasing an additional 14,600 shares during the period. Institutional investors and hedge funds own 62.50% of the company’s stock.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reissued a “buy” rating and issued a $42.00 price target on shares of Dorian LPG in a report on Thursday, October 31st.

Dorian LPG Price Performance

NYSE:LPG opened at $25.74 on Wednesday. The company has a 50-day moving average of $32.19 and a 200-day moving average of $38.19. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 4.40 and a beta of 1.00. Dorian LPG Ltd. has a 52 week low of $25.54 and a 52 week high of $51.66. The company has a debt-to-equity ratio of 0.48, a quick ratio of 4.20 and a current ratio of 4.22.

Dorian LPG (NYSE:LPG) last released its quarterly earnings data on Thursday, October 31st. The shipping company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.17). Dorian LPG had a return on equity of 23.75% and a net margin of 47.87%. The business had revenue of $82.40 million for the quarter, compared to the consensus estimate of $82.40 million. During the same period in the previous year, the business posted $1.85 earnings per share. Dorian LPG’s revenue was down 43.1% on a year-over-year basis. As a group, equities research analysts anticipate that Dorian LPG Ltd. will post 3.45 earnings per share for the current fiscal year.

Dorian LPG Dividend Announcement

The company also recently declared a dividend, which will be paid on Monday, November 25th. Investors of record on Tuesday, November 5th will be issued a dividend of $1.00 per share. The ex-dividend date is Tuesday, November 5th.

Dorian LPG Profile

Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas through its LPG tankers worldwide. It owns and operates twenty-five very large gas carriers. The company was incorporated in 2013 and is headquartered in Stamford, Connecticut.