Principal Financial Group Inc. Has $1.63 Million Stock Position in Franco-Nevada Co. (NYSE:FNV)

Principal Financial Group Inc. lowered its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 77.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 13,123 shares of the basic materials company’s stock after selling 44,432 shares during the period. Principal Financial Group Inc.’s holdings in Franco-Nevada were worth $1,632,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Franco-Nevada by 3,404.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 727,681 shares of the basic materials company’s stock worth $86,287,000 after acquiring an additional 706,919 shares during the period. EdgePoint Investment Group Inc. boosted its position in Franco-Nevada by 19.4% during the third quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock worth $411,003,000 after purchasing an additional 537,047 shares during the period. Victory Capital Management Inc. raised its position in shares of Franco-Nevada by 13.9% in the third quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock valued at $433,538,000 after purchasing an additional 424,810 shares during the period. Two Sigma Advisers LP raised its position in shares of Franco-Nevada by 60.1% in the third quarter. Two Sigma Advisers LP now owns 958,300 shares of the basic materials company’s stock valued at $119,069,000 after purchasing an additional 359,900 shares during the period. Finally, Clearbridge Investments LLC boosted its holdings in shares of Franco-Nevada by 4,361.2% during the 2nd quarter. Clearbridge Investments LLC now owns 275,571 shares of the basic materials company’s stock worth $32,659,000 after buying an additional 269,394 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. HC Wainwright lowered their price target on shares of Franco-Nevada from $200.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Jefferies Financial Group lowered their target price on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. UBS Group initiated coverage on Franco-Nevada in a research note on Monday, November 18th. They issued a “buy” rating and a $160.00 price target for the company. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Finally, Scotiabank reduced their target price on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $145.33.

Franco-Nevada Stock Performance

FNV opened at $122.41 on Friday. The firm has a market cap of $23.56 billion, a P/E ratio of -38.74 and a beta of 0.72. Franco-Nevada Co. has a 52-week low of $103.64 and a 52-week high of $137.60. The business’s fifty day moving average is $122.19 and its 200-day moving average is $123.32.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). The business had revenue of $275.70 million during the quarter, compared to analyst estimates of $279.11 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The company’s revenue for the quarter was down 10.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.91 EPS. On average, research analysts predict that Franco-Nevada Co. will post 3.22 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were issued a dividend of $0.36 per share. The ex-dividend date was Thursday, December 5th. This represents a $1.44 annualized dividend and a dividend yield of 1.18%. Franco-Nevada’s dividend payout ratio (DPR) is presently -45.57%.

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.