Principal Financial Group Inc. Decreases Stock Holdings in Burford Capital Limited (NYSE:BUR)

Principal Financial Group Inc. cut its stake in Burford Capital Limited (NYSE:BUR) by 28.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,975 shares of the company’s stock after selling 5,673 shares during the period. Principal Financial Group Inc.’s holdings in Burford Capital were worth $185,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of Montreal Can grew its stake in Burford Capital by 367.7% in the 2nd quarter. Bank of Montreal Can now owns 5,753,031 shares of the company’s stock valued at $75,077,000 after acquiring an additional 4,523,087 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Burford Capital by 4,376.3% in the second quarter. Bank of New York Mellon Corp now owns 1,039,300 shares of the company’s stock valued at $13,563,000 after purchasing an additional 1,016,082 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Burford Capital by 57.5% during the 2nd quarter. Marshall Wace LLP now owns 1,050,754 shares of the company’s stock worth $13,712,000 after purchasing an additional 383,577 shares in the last quarter. Clearline Capital LP acquired a new position in shares of Burford Capital during the 2nd quarter worth approximately $4,275,000. Finally, Rhumbline Advisers purchased a new stake in Burford Capital in the 2nd quarter valued at approximately $3,844,000.

Analyst Upgrades and Downgrades

BUR has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft began coverage on Burford Capital in a research report on Friday, September 6th. They set a “buy” rating and a $18.00 price target for the company. Wedbush reiterated an “outperform” rating and set a $18.00 price objective on shares of Burford Capital in a research report on Friday, August 9th.

Burford Capital Stock Performance

Shares of NYSE BUR opened at $13.68 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 15.75 and a current ratio of 15.75. Burford Capital Limited has a 1 year low of $12.07 and a 1 year high of $16.77. The firm’s 50 day moving average price is $13.50 and its 200 day moving average price is $13.50.

Burford Capital Profile

Burford Capital Limited provides legal finance products and services worldwide. The company operates through two segments, Capital Provision, and Asset Management and Other Provision. The Capital Provision segment provides capital to the legal industry or in connection with legal matters directly and through investment in private funds; legal risk management services; lower risk legal finance business focusing on pre-settlement litigation matters with lower risk and lower expected returns; post-settlement finance; and complex strategies in which it acts as a principal and acquires assets that are mispriced.