Principal Financial Group Inc. Has $11.78 Million Stake in Antero Midstream Co. (NYSE:AM)

Principal Financial Group Inc. lowered its stake in Antero Midstream Co. (NYSE:AM - Free Report) by 31.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 782,787 shares of the pipeline company's stock after selling 356,428 shares during the period. Principal Financial Group Inc. owned approximately 0.16% of Antero Midstream worth $11,781,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of AM. Allspring Global Investments Holdings LLC boosted its stake in Antero Midstream by 360.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,240 shares of the pipeline company's stock valued at $31,000 after buying an additional 1,753 shares in the last quarter. Blue Trust Inc. boosted its position in Antero Midstream by 149.4% in the third quarter. Blue Trust Inc. now owns 3,100 shares of the pipeline company's stock valued at $46,000 after buying an additional 1,857 shares in the last quarter. City State Bank acquired a new position in shares of Antero Midstream during the second quarter worth $51,000. First Horizon Advisors Inc. boosted its holdings in shares of Antero Midstream by 24.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 3,528 shares of the pipeline company's stock valued at $52,000 after acquiring an additional 688 shares in the last quarter. Finally, Abich Financial Wealth Management LLC bought a new stake in Antero Midstream during the 2nd quarter worth $55,000. Institutional investors own 53.97% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on AM shares. Morgan Stanley boosted their price target on Antero Midstream from $15.00 to $16.00 and gave the stock an "underweight" rating in a report on Tuesday, August 27th. StockNews.com downgraded shares of Antero Midstream from a "buy" rating to a "hold" rating in a research note on Monday, August 5th.

Antero Midstream Trading Up 1.5 %

Shares of AM traded up $0.23 during mid-day trading on Monday, reaching $15.48. 2,262,464 shares of the company were exchanged, compared to its average volume of 2,668,538. The business has a 50 day simple moving average of $15.06 and a two-hundred day simple moving average of $14.71. Antero Midstream Co. has a 52 week low of $11.58 and a 52 week high of $15.87. The stock has a market capitalization of $7.45 billion, a PE ratio of 18.83 and a beta of 2.35. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.09 and a current ratio of 1.09.

Antero Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were issued a dividend of $0.225 per share. The ex-dividend date was Wednesday, October 23rd. This represents a $0.90 dividend on an annualized basis and a yield of 5.81%. Antero Midstream's payout ratio is currently 111.11%.

Insider Transactions at Antero Midstream

In related news, Director Brooks J. Klimley sold 10,000 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $14.66, for a total transaction of $146,600.00. Following the transaction, the director now directly owns 74,100 shares of the company's stock, valued at $1,086,306. This represents a 11.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sheri Pearce sold 23,518 shares of the firm's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $14.59, for a total transaction of $343,127.62. Following the completion of the sale, the insider now owns 130,349 shares of the company's stock, valued at $1,901,791.91. The trade was a 15.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company's stock.

Antero Midstream Profile

Antero Midstream Corporation owns, operates, and develops midstream energy assets in the Appalachian Basin. It operates in two segments, Gathering and Processing, and Water Handling. The Gathering and Processing segment includes a network of gathering pipelines and compressor stations that collects and processes production from Antero Resources' wells in West Virginia and Ohio.