Principal Financial Group Inc. Has $6.14 Million Stock Position in Adeia Inc. (NASDAQ:ADEA)

Principal Financial Group Inc. trimmed its holdings in Adeia Inc. (NASDAQ:ADEA - Free Report) by 11.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 515,579 shares of the company's stock after selling 66,410 shares during the period. Principal Financial Group Inc. owned 0.47% of Adeia worth $6,141,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ADEA. Algert Global LLC acquired a new position in Adeia during the 2nd quarter worth approximately $122,000. Hohimer Wealth Management LLC purchased a new position in shares of Adeia in the third quarter valued at $190,000. Seizert Capital Partners LLC acquired a new position in shares of Adeia during the 3rd quarter worth $197,000. Zacks Investment Management boosted its position in shares of Adeia by 51.5% in the 3rd quarter. Zacks Investment Management now owns 17,357 shares of the company's stock worth $207,000 after buying an additional 5,902 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Adeia in the 3rd quarter valued at about $253,000. 97.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ADEA. Rosenblatt Securities lifted their target price on shares of Adeia from $15.00 to $18.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th. BWS Financial reiterated a "buy" rating and set a $16.00 target price on shares of Adeia in a report on Wednesday, December 4th.

Adeia Trading Down 1.8 %

Shares of ADEA traded down $0.25 on Thursday, hitting $13.73. 399,574 shares of the stock traded hands, compared to its average volume of 493,486. Adeia Inc. has a 1 year low of $9.68 and a 1 year high of $14.75. The stock's 50 day moving average is $12.95 and its two-hundred day moving average is $12.07. The firm has a market capitalization of $1.50 billion, a P/E ratio of 38.14 and a beta of 1.42. The company has a quick ratio of 3.42, a current ratio of 3.42 and a debt-to-equity ratio of 1.32.

Adeia Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Wednesday, November 27th. Adeia's dividend payout ratio is currently 55.56%.

Adeia Company Profile

Adeia Inc, together with its subsidiaries, operates as a media and semiconductor intellectual property licensing company in the United States, Canada, Asia, Europe, the Middle East, and internationally. The company licenses its patent portfolios across various markets, including multichannel video programming distributors comprising cable, satellite, and telecommunications television providers that aggregate and distribute linear content over networks, as well as television providers that aggregate and stream linear content over broadband networks; over-the-top video service providers and social media companies, such as subscription video-on-demand and advertising-supported streaming service providers, as well as content providers, networks, and media companies.