Principal Financial Group Inc. Decreases Stock Holdings in Franco-Nevada Co. (NYSE:FNV)

Principal Financial Group Inc. lessened its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 39.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,971 shares of the basic materials company’s stock after selling 5,152 shares during the quarter. Principal Financial Group Inc.’s holdings in Franco-Nevada were worth $936,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. M&G PLC increased its stake in shares of Franco-Nevada by 3.2% during the third quarter. M&G PLC now owns 1,679,858 shares of the basic materials company’s stock worth $208,645,000 after purchasing an additional 51,996 shares in the last quarter. Malaga Cove Capital LLC purchased a new stake in Franco-Nevada during the 3rd quarter worth approximately $208,000. Confluence Investment Management LLC raised its holdings in shares of Franco-Nevada by 9.4% during the third quarter. Confluence Investment Management LLC now owns 5,325 shares of the basic materials company’s stock valued at $662,000 after acquiring an additional 456 shares during the last quarter. Hudson Value Partners LLC raised its holdings in shares of Franco-Nevada by 1.8% during the third quarter. Hudson Value Partners LLC now owns 30,489 shares of the basic materials company’s stock valued at $3,788,000 after acquiring an additional 539 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of Franco-Nevada in the third quarter valued at approximately $147,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Price Performance

Shares of FNV stock opened at $142.63 on Friday. The firm’s 50-day moving average is $132.83 and its two-hundred day moving average is $127.01. Franco-Nevada Co. has a 12 month low of $111.00 and a 12 month high of $146.70. The company has a market capitalization of $27.46 billion, a PE ratio of -45.14, a price-to-earnings-growth ratio of 9.78 and a beta of 0.74.

Franco-Nevada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a $0.38 dividend. The ex-dividend date is Thursday, March 13th. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a yield of 1.07%. Franco-Nevada’s dividend payout ratio is currently -48.10%.

Analysts Set New Price Targets

Several analysts recently commented on the company. HC Wainwright reiterated a “buy” rating and set a $155.00 price target on shares of Franco-Nevada in a research report on Tuesday, January 28th. 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 target on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Finally, Scotiabank cut their price objective on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $146.71.

About Franco-Nevada

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.