Principal Financial Group Inc. Decreases Holdings in Adeia Inc. (NASDAQ:ADEA)

Principal Financial Group Inc. lessened its holdings in shares of Adeia Inc. (NASDAQ:ADEA - Free Report) by 11.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 515,579 shares of the company's stock after selling 66,410 shares during the quarter. Principal Financial Group Inc. owned approximately 0.47% of Adeia worth $6,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Wedge Capital Management L L P NC boosted its position in shares of Adeia by 0.9% during the 2nd quarter. Wedge Capital Management L L P NC now owns 100,905 shares of the company's stock valued at $1,129,000 after acquiring an additional 875 shares during the last quarter. Gallacher Capital Management LLC lifted its holdings in shares of Adeia by 5.2% in the 2nd quarter. Gallacher Capital Management LLC now owns 23,803 shares of the company's stock worth $266,000 after acquiring an additional 1,186 shares during the last quarter. ProShare Advisors LLC grew its holdings in Adeia by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 21,579 shares of the company's stock valued at $236,000 after purchasing an additional 1,483 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in shares of Adeia by 2.8% during the second quarter. Louisiana State Employees Retirement System now owns 54,600 shares of the company's stock valued at $611,000 after buying an additional 1,500 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Adeia by 0.6% in the second quarter. Rhumbline Advisers now owns 321,762 shares of the company's stock worth $3,599,000 after buying an additional 1,904 shares during the period. Hedge funds and other institutional investors own 97.36% of the company's stock.

Adeia Stock Up 3.0 %

Adeia stock traded up $0.35 during midday trading on Thursday, hitting $11.87. 98,851 shares of the company's stock were exchanged, compared to its average volume of 478,794. Adeia Inc. has a 12 month low of $9.05 and a 12 month high of $14.24. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.42 and a current ratio of 3.42. The company has a market cap of $1.30 billion, a PE ratio of 32.50 and a beta of 1.44. The firm has a 50-day moving average of $12.12 and a two-hundred day moving average of $11.67.

Adeia Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 27th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.68%. Adeia's dividend payout ratio is presently 55.56%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. BWS Financial reissued a "buy" rating and set a $16.00 target price on shares of Adeia in a research note on Monday, November 11th. Rosenblatt Securities reaffirmed a "buy" rating and set a $15.00 target price on shares of Adeia in a research report on Friday, November 8th.

About Adeia

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.