Principal Financial Group Inc. Sells 12,721 Shares of Dorian LPG Ltd. (NYSE:LPG)

Principal Financial Group Inc. cut its holdings in shares of Dorian LPG Ltd. (NYSE:LPG) by 6.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 198,742 shares of the shipping company’s stock after selling 12,721 shares during the quarter. Principal Financial Group Inc. owned approximately 0.46% of Dorian LPG worth $6,841,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in LPG. Raymond James & Associates boosted its stake in Dorian LPG by 26.3% in the 2nd quarter. Raymond James & Associates now owns 37,055 shares of the shipping company’s stock worth $1,555,000 after purchasing an additional 7,723 shares during the period. Bank of New York Mellon Corp grew its stake in Dorian LPG by 1.2% during the second quarter. Bank of New York Mellon Corp now owns 257,096 shares of the shipping company’s stock valued at $10,788,000 after acquiring an additional 2,939 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Dorian LPG by 7.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,754 shares of the shipping company’s stock valued at $367,000 after acquiring an additional 594 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Dorian LPG by 14,474.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 10,348 shares of the shipping company’s stock worth $431,000 after purchasing an additional 10,277 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Dorian LPG by 2.6% during the 2nd quarter. Rhumbline Advisers now owns 102,334 shares of the shipping company’s stock valued at $4,294,000 after purchasing an additional 2,570 shares during the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Jefferies Financial Group reaffirmed a “buy” rating and issued a $42.00 target price on shares of Dorian LPG in a report on Thursday, October 31st.

Dorian LPG Trading Up 1.5 %

Shares of LPG opened at $24.37 on Thursday. The stock has a market capitalization of $1.04 billion, a PE ratio of 4.13 and a beta of 0.93. The company’s fifty day moving average is $25.64 and its 200 day moving average is $33.51. The company has a debt-to-equity ratio of 0.48, a quick ratio of 4.20 and a current ratio of 4.22. Dorian LPG Ltd. has a fifty-two week low of $22.46 and a fifty-two week high of $51.66.

Dorian LPG (NYSE:LPG) last posted its earnings results on Thursday, October 31st. The shipping company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.17). The business had revenue of $82.40 million during the quarter, compared to the consensus estimate of $82.40 million. Dorian LPG had a return on equity of 23.75% and a net margin of 47.87%. The business’s quarterly revenue was down 43.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.85 earnings per share. Sell-side analysts expect that Dorian LPG Ltd. will post 3.45 earnings per share for the current fiscal year.

Dorian LPG Dividend Announcement

The business also recently announced a dividend, which was paid on Monday, November 25th. Stockholders of record on Tuesday, November 5th were issued a $1.00 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. Dorian LPG’s dividend payout ratio (DPR) is 16.95%.

Dorian LPG Profile

Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas through its LPG tankers worldwide. It owns and operates twenty-five very large gas carriers. The company was incorporated in 2013 and is headquartered in Stamford, Connecticut.