Principal Financial Group Inc. Has $1.68 Million Stock Holdings in Franco-Nevada Corporation (NYSE:FNV)

Principal Financial Group Inc. boosted its stake in shares of Franco-Nevada Corporation (NYSE:FNVFree Report) (TSE:FNV) by 34.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,710 shares of the basic materials company’s stock after buying an additional 2,739 shares during the quarter. Principal Financial Group Inc.’s holdings in Franco-Nevada were worth $1,684,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FNV. Envestnet Portfolio Solutions Inc. raised its position in shares of Franco-Nevada by 41.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 11,484 shares of the basic materials company’s stock worth $1,350,000 after acquiring an additional 3,341 shares in the last quarter. Harbour Investments Inc. raised its position in shares of Franco-Nevada by 25.8% in the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 93 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Franco-Nevada by 23.1% in the 4th quarter. Parallel Advisors LLC now owns 2,692 shares of the basic materials company’s stock worth $317,000 after acquiring an additional 505 shares in the last quarter. Magnetar Financial LLC bought a new position in shares of Franco-Nevada in the 4th quarter worth about $290,000. Finally, American Century Companies Inc. increased its position in Franco-Nevada by 16.9% in the 4th quarter. American Century Companies Inc. now owns 244,598 shares of the basic materials company’s stock valued at $28,761,000 after buying an additional 35,406 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Trading Down 0.1%

Shares of FNV opened at $154.40 on Friday. The firm has a market cap of $29.75 billion, a PE ratio of 48.25, a P/E/G ratio of 2.08 and a beta of 0.41. The firm has a fifty day simple moving average of $164.67 and a two-hundred day simple moving average of $153.40. Franco-Nevada Corporation has a 1-year low of $112.70 and a 1-year high of $179.99.

Franco-Nevada (NYSE:FNVGet Free Report) (TSE:FNV) last released its earnings results on Thursday, May 8th. The basic materials company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.07. Franco-Nevada had a return on equity of 11.40% and a net margin of 50.39%. The company had revenue of $368.40 million for the quarter, compared to the consensus estimate of $328.79 million. During the same period in the previous year, the business earned $0.76 earnings per share. Franco-Nevada’s quarterly revenue was up 43.5% compared to the same quarter last year. As a group, research analysts forecast that Franco-Nevada Corporation will post 3.09 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date was Thursday, June 12th. Franco-Nevada’s dividend payout ratio (DPR) is 47.50%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FNV. BMO Capital Markets reiterated an “outperform” rating on shares of Franco-Nevada in a research note on Wednesday, May 28th. Royal Bank Of Canada upped their target price on Franco-Nevada from $160.00 to $190.00 and gave the company a “sector perform” rating in a report on Wednesday, June 4th. UBS Group upped their target price on Franco-Nevada from $205.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, July 3rd. National Bankshares reiterated a “sector perform” rating on shares of Franco-Nevada in a research note on Tuesday, June 24th. Finally, Raymond James Financial set a $186.00 price objective on Franco-Nevada and gave the company an “outperform” rating in a research note on Wednesday, May 28th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $172.13.

View Our Latest Stock Analysis on Franco-Nevada

About Franco-Nevada

(Free Report)

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.

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Institutional Ownership by Quarter for Franco-Nevada (NYSE:FNV)

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