Principal Financial Group Inc. Has $38.78 Million Stock Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Principal Financial Group Inc. increased its position in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 74.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 354,013 shares of the data storage provider's stock after purchasing an additional 150,734 shares during the quarter. Principal Financial Group Inc. owned 0.17% of Seagate Technology worth $38,775,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP purchased a new position in Seagate Technology in the second quarter worth about $27,000. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Seagate Technology by 2,407.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider's stock worth $36,000 after purchasing an additional 337 shares during the period. Family Firm Inc. bought a new position in Seagate Technology during the 2nd quarter valued at approximately $41,000. JFS Wealth Advisors LLC boosted its stake in shares of Seagate Technology by 232.5% during the 3rd quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider's stock valued at $46,000 after purchasing an additional 293 shares in the last quarter. Finally, Larson Financial Group LLC raised its stake in Seagate Technology by 15,766.7% in the second quarter. Larson Financial Group LLC now owns 476 shares of the data storage provider's stock worth $49,000 after buying an additional 473 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on STX. Evercore ISI boosted their price target on shares of Seagate Technology from $125.00 to $135.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Loop Capital lifted their price target on Seagate Technology from $105.00 to $135.00 and gave the stock a "buy" rating in a report on Wednesday, July 24th. Wedbush reiterated an "outperform" rating and issued a $150.00 price objective on shares of Seagate Technology in a research report on Wednesday, October 23rd. Cantor Fitzgerald reissued a "neutral" rating and set a $125.00 price target on shares of Seagate Technology in a research note on Wednesday, October 23rd. Finally, Barclays boosted their price target on shares of Seagate Technology from $80.00 to $95.00 and gave the company an "equal weight" rating in a report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $118.83.

Seagate Technology Price Performance

STX stock traded down $2.08 during trading on Tuesday, hitting $99.76. The stock had a trading volume of 1,121,698 shares, compared to its average volume of 2,491,471. The company's 50-day moving average price is $105.06 and its two-hundred day moving average price is $101.00. The stock has a market capitalization of $21.10 billion, a P/E ratio of 26.59 and a beta of 1.05. Seagate Technology Holdings plc has a twelve month low of $71.67 and a twelve month high of $115.32.

Seagate Technology (NASDAQ:STX - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.30 by $0.28. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the firm earned ($0.34) earnings per share. The company's revenue was up 49.1% on a year-over-year basis. As a group, sell-side analysts expect that Seagate Technology Holdings plc will post 7.35 EPS for the current fiscal year.

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.88 annualized dividend and a dividend yield of 2.89%. This is a boost from Seagate Technology's previous quarterly dividend of $0.70. Seagate Technology's dividend payout ratio (DPR) is presently 73.11%.

Insider Buying and Selling

In other news, EVP Ban Seng Teh sold 4,872 shares of the firm's stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $110.00, for a total value of $535,920.00. Following the transaction, the executive vice president now owns 9,969 shares of the company's stock, valued at approximately $1,096,590. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Ban Seng Teh sold 4,872 shares of Seagate Technology stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $110.00, for a total value of $535,920.00. Following the completion of the transaction, the executive vice president now directly owns 9,969 shares in the company, valued at approximately $1,096,590. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William D. Mosley sold 141,785 shares of the company's stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $110.18, for a total transaction of $15,621,871.30. Following the completion of the transaction, the chief executive officer now directly owns 668,616 shares of the company's stock, valued at approximately $73,668,110.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 192,638 shares of company stock worth $20,924,155. Insiders own 0.81% of the company's stock.

Seagate Technology Company Profile

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.