Principal Financial Group Inc. Sells 148,396 Shares of Sempra (NYSE:SRE)

Principal Financial Group Inc. lessened its stake in Sempra (NYSE:SRE - Free Report) by 8.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,637,235 shares of the utilities provider's stock after selling 148,396 shares during the quarter. Principal Financial Group Inc. owned about 0.26% of Sempra worth $136,922,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Perennial Investment Advisors LLC grew its position in shares of Sempra by 2.8% during the 2nd quarter. Perennial Investment Advisors LLC now owns 4,963 shares of the utilities provider's stock worth $377,000 after buying an additional 134 shares during the period. Transcend Capital Advisors LLC grew its position in shares of Sempra by 2.8% during the 2nd quarter. Transcend Capital Advisors LLC now owns 4,983 shares of the utilities provider's stock worth $379,000 after buying an additional 136 shares during the period. Marcum Wealth LLC grew its position in shares of Sempra by 3.5% during the 2nd quarter. Marcum Wealth LLC now owns 4,019 shares of the utilities provider's stock worth $306,000 after buying an additional 137 shares during the period. Private Advisor Group LLC boosted its stake in Sempra by 1.6% during the 3rd quarter. Private Advisor Group LLC now owns 8,742 shares of the utilities provider's stock worth $731,000 after acquiring an additional 139 shares during the last quarter. Finally, SeaCrest Wealth Management LLC boosted its stake in Sempra by 4.0% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 3,794 shares of the utilities provider's stock worth $289,000 after acquiring an additional 147 shares during the last quarter. Institutional investors and hedge funds own 89.65% of the company's stock.

Sempra Stock Up 1.7 %

SRE traded up $1.49 during trading on Friday, reaching $91.25. The company had a trading volume of 3,733,561 shares, compared to its average volume of 2,895,625. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.52 and a quick ratio of 0.41. Sempra has a 12 month low of $66.40 and a 12 month high of $91.88. The business's fifty day moving average price is $83.60 and its 200 day moving average price is $79.21. The company has a market cap of $57.77 billion, a P/E ratio of 20.10, a PEG ratio of 2.82 and a beta of 0.75.

Sempra (NYSE:SRE - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.89 EPS for the quarter, missing analysts' consensus estimates of $1.06 by ($0.17). The business had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $3.54 billion. Sempra had a return on equity of 8.01% and a net margin of 22.63%. The business's revenue for the quarter was down 16.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.08 EPS. Equities analysts anticipate that Sempra will post 4.77 EPS for the current year.

Sempra Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Thursday, December 5th. Sempra's dividend payout ratio (DPR) is 54.63%.

Analyst Upgrades and Downgrades

SRE has been the topic of several recent analyst reports. Bank of America initiated coverage on shares of Sempra in a research note on Thursday, September 12th. They set a "buy" rating and a $94.00 price objective on the stock. Evercore ISI lifted their price objective on shares of Sempra from $84.00 to $88.00 and gave the stock an "outperform" rating in a research note on Thursday. Barclays lifted their price objective on shares of Sempra from $87.00 to $89.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 1st. BMO Capital Markets lifted their price objective on shares of Sempra from $93.00 to $96.00 and gave the stock an "outperform" rating in a research note on Monday, October 21st. Finally, Jefferies Financial Group initiated coverage on shares of Sempra in a research note on Thursday, October 24th. They set a "buy" rating and a $98.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $89.00.

About Sempra

Sempra operates as an energy infrastructure company in the United States and internationally. It operates through three segments: Sempra California, Sempra Texas Utilities, and Sempra Infrastructure. The Sempra California segment provides electric services; and natural gas services to San Diego County.