Principal Financial Group Inc. Buys 9,990 Shares of eBay Inc. (NASDAQ:EBAY)

Principal Financial Group Inc. grew its position in eBay Inc. (NASDAQ:EBAY - Free Report) by 1.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 594,161 shares of the e-commerce company's stock after purchasing an additional 9,990 shares during the quarter. Principal Financial Group Inc. owned approximately 0.12% of eBay worth $38,686,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of EBAY. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of eBay during the 2nd quarter worth approximately $26,000. Tortoise Investment Management LLC increased its position in shares of eBay by 894.2% in the 2nd quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company's stock worth $28,000 after purchasing an additional 465 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of eBay during the 2nd quarter valued at about $29,000. LRI Investments LLC acquired a new stake in eBay in the 1st quarter valued at about $29,000. Finally, USA Financial Formulas bought a new position in shares of eBay in the 3rd quarter valued at about $38,000. Institutional investors and hedge funds own 87.48% of the company's stock.

eBay Stock Performance

Shares of EBAY traded down $0.90 during midday trading on Tuesday, reaching $61.53. The stock had a trading volume of 2,424,638 shares, compared to its average volume of 5,426,948. The firm has a market cap of $29.47 billion, a PE ratio of 15.69, a P/E/G ratio of 2.03 and a beta of 1.34. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.14. The firm has a 50 day simple moving average of $63.31 and a 200-day simple moving average of $57.27. eBay Inc. has a one year low of $38.60 and a one year high of $67.80.

eBay Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Friday, November 29th. eBay's dividend payout ratio is currently 27.14%.

Insider Activity at eBay

In other eBay news, SVP Cornelius Boone sold 3,974 shares of the company's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.61, for a total value of $256,760.14. Following the completion of the sale, the senior vice president now directly owns 70,113 shares in the company, valued at $4,530,000.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Cornelius Boone sold 3,974 shares of the business's stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $64.61, for a total value of $256,760.14. Following the transaction, the senior vice president now owns 70,113 shares in the company, valued at approximately $4,530,000.93. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jamie Iannone sold 5,625 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $59.91, for a total value of $336,993.75. Following the transaction, the chief executive officer now owns 548,042 shares in the company, valued at approximately $32,833,196.22. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,016 shares of company stock valued at $3,015,417. 0.38% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

EBAY has been the topic of a number of recent research reports. Bank of America lowered their price objective on shares of eBay from $67.00 to $64.00 and set a "neutral" rating on the stock in a report on Thursday, October 31st. Mizuho boosted their price objective on eBay from $55.00 to $60.00 and gave the stock a "neutral" rating in a report on Tuesday, November 5th. StockNews.com cut eBay from a "buy" rating to a "hold" rating in a report on Monday. Citigroup lifted their price objective on eBay from $65.00 to $68.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Finally, Wolfe Research assumed coverage on eBay in a research note on Tuesday, July 16th. They set a "peer perform" rating for the company. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, eBay has a consensus rating of "Hold" and an average target price of $62.87.

About eBay

eBay Inc, together with its subsidiaries, operates marketplace platforms that connect buyers and sellers in the United States, the United Kingdom, China, Germany, and internationally. The company's marketplace platform includes its online marketplace at ebay.com, off-platform businesses, and the eBay suite of mobile apps.