Principal Financial Group Inc. Reduces Stock Holdings in Bristow Group Inc. (NYSE:VTOL)

Principal Financial Group Inc. lowered its holdings in shares of Bristow Group Inc. (NYSE:VTOL) by 2.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 116,023 shares of the company’s stock after selling 3,067 shares during the quarter. Principal Financial Group Inc.’s holdings in Bristow Group were worth $4,025,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its holdings in Bristow Group by 7.1% during the second quarter. The Manufacturers Life Insurance Company now owns 9,401 shares of the company’s stock valued at $315,000 after buying an additional 620 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Bristow Group by 1.0% in the 2nd quarter. Rhumbline Advisers now owns 77,862 shares of the company’s stock worth $2,611,000 after purchasing an additional 795 shares in the last quarter. New York State Teachers Retirement System raised its holdings in Bristow Group by 5.7% in the 3rd quarter. New York State Teachers Retirement System now owns 16,683 shares of the company’s stock worth $579,000 after purchasing an additional 900 shares during the period. nVerses Capital LLC purchased a new position in Bristow Group during the second quarter valued at $64,000. Finally, Susquehanna Fundamental Investments LLC grew its holdings in Bristow Group by 13.0% during the second quarter. Susquehanna Fundamental Investments LLC now owns 17,216 shares of the company’s stock valued at $577,000 after purchasing an additional 1,978 shares during the period. Institutional investors own 93.29% of the company’s stock.

Bristow Group Price Performance

Shares of NYSE:VTOL opened at $37.99 on Friday. The firm’s 50 day simple moving average is $35.34 and its two-hundred day simple moving average is $35.34. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.83 and a quick ratio of 1.49. The company has a market capitalization of $1.09 billion, a P/E ratio of 20.42 and a beta of 1.31. Bristow Group Inc. has a 1-year low of $24.33 and a 1-year high of $41.50.

Bristow Group (NYSE:VTOL) last issued its earnings results on Tuesday, November 5th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.34. The company had revenue of $365.12 million during the quarter. Bristow Group had a net margin of 3.93% and a return on equity of 6.50%. During the same period in the prior year, the company posted $0.41 EPS.

Insider Buying and Selling

In other news, major shareholder Alternative Asset Manage Solus sold 45,000 shares of Bristow Group stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $36.20, for a total value of $1,629,000.00. Following the sale, the insider now directly owns 3,231,203 shares of the company’s stock, valued at approximately $116,969,548.60. The trade was a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 165,603 shares of company stock worth $6,328,671. 14.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Benchmark raised their price objective on Bristow Group from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th.

Bristow Group Company Profile

Bristow Group Inc provides vertical flight solutions. The company primarily offers aviation services to integrated, national, and independent offshore energy companies and government agencies. It also provides personnel transportation, search and rescue, medevac, ad hoc helicopter, fixed wing transportation, unmanned systems, and ad-hoc helicopter services, as well as logistical and maintenance support, training services, and flight and maintenance crews.