Principal Financial Group Inc. Increases Stake in Royal Gold, Inc. (NASDAQ:RGLD)


Principal Financial Group Inc. increased its holdings of shares of Royal Gold, Inc. (NASDAQ:RGLD – Get Rating) (TSE:RGL) by 0.1% during the 1st quarter, according to the company in its most recently filed Form 13F with the Securities and Exchange Commission. The company held 223,189 shares of the basic materials company after buying an additional 138 shares during the quarter. Principal Financial Group Inc. owned approximately 0.34% of Royal Gold worth $31,532,000 at the time of its last SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. The Swiss National Bank increased its holdings in Royal Gold by 7.5% in the first quarter. The Swiss National Bank now owns 155,200 shares of the basic materials company valued at $21,927,000 after buying an additional 10,800 shares during the period. Fort Sheridan Advisors LLC acquired a new stake in Royal Gold in the first quarter valued at approximately $244,000. Teacher Retirement System of Texas increased its stake in Royal Gold by 6.7% in the first quarter. Teacher Retirement System of Texas now owns 13,601 shares of the basic materials company valued at $1,922,000 after acquiring 857 additional shares last quarter. Banque Cantonale Vaudoise increased its stake in Royal Gold by 25.9% in the first quarter. Banque Cantonale Vaudoise now owns 1,719 shares of the basic materials company valued at $243,000 after acquiring 354 more shares last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in Royal Gold in the first quarter valued at approximately $3,792,000. 80.33% of the shares are held by hedge funds and other institutional investors.

Insiders place their bets

In other Royal Gold news, Vice Chairman Randy Shefman sold 638 shares of the company in a trade dated Thursday June 2. The shares were sold at an average price of $117.57, for a total value of $75,009.66. Following completion of the transaction, the vice president now owns 9,456 shares of the company, valued at $1,111,741.92. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.38% of the shares of the company.

Royal Gold stock performance

Shares of Royal Gold opened at $100.86 on Tuesday. The company has a 50-day simple moving average of $106.39 and a two-hundred-day simple moving average of $119.36. The company has a market capitalization of $6.62 billion, a P/E ratio of 24.07, a price-to-earnings growth ratio of 2.95 and a beta of 0.61. Royal Gold, Inc. has a fifty-two week low of $92.01 and a fifty-two week high of $147.70.

Royal Gold dividend announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 15. Shareholders of record on Friday, July 1 received a dividend of $0.35. The ex-dividend date was Thursday, June 30. This represents a dividend of $1.40 on an annualized basis and a dividend yield of 1.39%. Royal Gold’s dividend payout ratio (DPR) is currently 33.41%.

Analysts set new price targets

RGLD has been the subject of several recent analyst reports. Canaccord Genuity Group upgraded shares of Royal Gold from a “hold” rating to a “buy” rating in a Monday, June 13 research note. Barclays lowered its price target on Royal Gold shares to $110.00 in a Tuesday, August 9 research note. Raymond James lowered his price target on Royal Gold shares from $144.00 to $142.00 and set an “outperform” rating for the company in a research note on Friday August 5. TD Securities lowered its price target on Royal Gold shares from $145.00 to $140.00 and set a “buy” rating for the company in a Friday, Aug. 5 research note. Finally, BMO Capital Markets lowered its price target on Royal Gold shares from $142.00 to $140.00 and set a “market performance” rating for the company in a Thursday, Aug. 4 research note. . Seven research analysts gave the stock a hold rating and five gave the stock a buy rating. Based on MarketBeat data, Royal Gold has an average rating of “Hold” and a consensus price target of $138.00.

Royal Gold Company Profile

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Royal Gold, Inc, together with its subsidiaries, acquires and manages precious metal streams, royalties and related interests. It focuses on the acquisition of stream interests and royalties or to finance projects that are in production or in the development phase in exchange for stream interests or royalties, which consist mainly of gold, silver, copper, nickel, zinc, lead and cobalt.

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Institutional ownership by quarter for Royal Gold (NASDAQ:RGLD)



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