Franco-Nevada Co. (NYSE:FNV) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 39.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 7,971 shares of the basic materials company's stock after selling 5,152 shares during the period. Principal Financial Group Inc.'s holdings in Franco-Nevada were worth $936,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. Laurel Wealth Advisors LLC purchased a new stake in Franco-Nevada during the 4th quarter worth about $47,000. Point72 DIFC Ltd acquired a new stake in Franco-Nevada in the 3rd quarter valued at about $52,000. Erste Asset Management GmbH acquired a new stake in Franco-Nevada in the 3rd quarter valued at about $55,000. Principal Securities Inc. raised its position in Franco-Nevada by 290.5% in the 4th quarter. Principal Securities Inc. now owns 863 shares of the basic materials company's stock valued at $101,000 after purchasing an additional 642 shares in the last quarter. Finally, Birch Capital Management LLC raised its position in shares of Franco-Nevada by 37.9% during the 4th quarter. Birch Capital Management LLC now owns 1,085 shares of the basic materials company's stock worth $128,000 after acquiring an additional 298 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Franco-Nevada Trading Up 0.5 %

Shares of NYSE FNV traded up $0.69 during midday trading on Friday, reaching $143.36. 926,716 shares of the stock were exchanged, compared to its average volume of 612,643. The company has a market capitalization of $27.60 billion, a P/E ratio of -45.37, a P/E/G ratio of 9.78 and a beta of 0.73. Franco-Nevada Co. has a 52-week low of $111.98 and a 52-week high of $146.70. The stock has a 50 day moving average price of $133.31 and a 200-day moving average price of $127.12.

Remove Ads

Franco-Nevada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Franco-Nevada's previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 1.06%. Franco-Nevada's dividend payout ratio (DPR) is currently -48.10%.

Analysts Set New Price Targets

FNV has been the topic of a number of analyst reports. Royal Bank of Canada lifted their price target on Franco-Nevada from $145.00 to $155.00 and gave the company a "sector perform" rating in a research note on Tuesday, February 11th. StockNews.com upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Friday. HC Wainwright restated a "buy" rating and issued a $155.00 price target on shares of Franco-Nevada in a research note on Tuesday, January 28th. Canaccord Genuity Group upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday, November 18th. Finally, UBS Group began coverage on Franco-Nevada in a report on Monday, November 18th. They set a "buy" rating and a $160.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $146.71.

Franco-Nevada 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.