Principal Financial Group Inc. Has $257,000 Stock Position in Teekay Co. (NYSE:TK)

Principal Financial Group Inc. raised its stake in Teekay Co. (NYSE:TK) by 23.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,903 shares of the shipping company’s stock after acquiring an additional 5,223 shares during the period. Principal Financial Group Inc.’s holdings in Teekay were worth $257,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its stake in Teekay by 12.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 378,273 shares of the shipping company’s stock worth $3,480,000 after buying an additional 40,528 shares during the last quarter. Inspire Advisors LLC boosted its holdings in shares of Teekay by 42.1% in the 3rd quarter. Inspire Advisors LLC now owns 73,770 shares of the shipping company’s stock worth $679,000 after acquiring an additional 21,861 shares in the last quarter. Ritholtz Wealth Management boosted its holdings in shares of Teekay by 3.1% in the 3rd quarter. Ritholtz Wealth Management now owns 200,069 shares of the shipping company’s stock worth $1,841,000 after acquiring an additional 6,102 shares in the last quarter. Point72 DIFC Ltd grew its position in Teekay by 885.2% during the 2nd quarter. Point72 DIFC Ltd now owns 4,798 shares of the shipping company’s stock worth $43,000 after acquiring an additional 4,311 shares during the last quarter. Finally, Aristides Capital LLC acquired a new stake in Teekay during the 2nd quarter valued at $180,000. 46.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com lowered Teekay from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 28th.

Teekay Stock Down 2.1 %

Shares of NYSE TK opened at $7.76 on Tuesday. Teekay Co. has a 12-month low of $6.41 and a 12-month high of $9.95. The firm’s 50-day simple moving average is $8.50 and its 200 day simple moving average is $8.56. The company has a market cap of $712.68 million, a price-to-earnings ratio of 5.17 and a beta of 0.60.

Teekay Announces Dividend

The business also recently declared a — dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, December 4th. Teekay’s dividend payout ratio (DPR) is currently 16.67%.

About Teekay

Teekay Corporation engages in the international crude oil and other marine transportation services worldwide. The company owns and operates crude oil and refined product tankers. It also provides ship-to-ship support services; tanker commercial management operation services; and operational and maintenance marine services.