83,231 Shares in Teekay Corporation Ltd. $TK Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. purchased a new stake in shares of Teekay Corporation Ltd. (NYSE:TK) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 83,231 shares of the shipping company’s stock, valued at approximately $681,000. Principal Financial Group Inc. owned 0.09% of Teekay as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. State of Alaska Department of Revenue bought a new stake in shares of Teekay during the third quarter valued at approximately $27,000. Cubist Systematic Strategies LLC acquired a new stake in Teekay during the first quarter worth $48,000. Tower Research Capital LLC TRC increased its holdings in Teekay by 194.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,600 shares of the shipping company’s stock valued at $63,000 after buying an additional 5,022 shares during the period. Osaic Holdings Inc. raised its stake in shares of Teekay by 1,008.8% in the 2nd quarter. Osaic Holdings Inc. now owns 10,456 shares of the shipping company’s stock valued at $86,000 after buying an additional 9,513 shares in the last quarter. Finally, Bayesian Capital Management LP bought a new position in shares of Teekay during the 2nd quarter worth about $91,000. Institutional investors own 46.73% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Teekay in a research note on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Teekay Stock Up 2.5%

NYSE:TK opened at $11.86 on Thursday. The firm has a market cap of $1.09 billion, a PE ratio of 8.41 and a beta of 0.20. Teekay Corporation Ltd. has a 12 month low of $5.65 and a 12 month high of $11.95. The company’s 50-day moving average price is $9.81 and its two-hundred day moving average price is $9.10.

Teekay (NYSE:TK) last released its quarterly earnings results on Wednesday, February 18th. The shipping company reported $0.40 earnings per share for the quarter.

About Teekay

Teekay Corporation (NYSE: TK) is a global provider of marine transportation and offshore production solutions for the energy industry. Founded in 1973 and headquartered in Vancouver, Canada, Teekay designs, owns and operates a diversified fleet of tankers and floating production, storage and offloading (FPSO) units. The company specializes in the movement and storage of crude oil, liquefied natural gas (LNG) and liquefied petroleum gas (LPG), offering integrated services that range from tanker transport to offshore production and marine maintenance.

Teekay’s core business is organized into three operating segments.