Principal Financial Group Inc. Takes Position in Teekay Corporation Ltd. $TK

Principal Financial Group Inc. acquired a new position in Teekay Corporation Ltd. (NYSE:TK) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 83,231 shares of the shipping company’s stock, valued at approximately $681,000.

Several other large investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Teekay by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,460 shares of the shipping company’s stock valued at $213,000 after buying an additional 1,404 shares during the period. Evergreen Capital Management LLC boosted its holdings in Teekay by 17.3% in the second quarter. Evergreen Capital Management LLC now owns 18,428 shares of the shipping company’s stock valued at $152,000 after acquiring an additional 2,721 shares during the last quarter. Summit Global Investments increased its position in Teekay by 8.1% in the third quarter. Summit Global Investments now owns 45,425 shares of the shipping company’s stock worth $372,000 after purchasing an additional 3,388 shares during the period. State of Alaska Department of Revenue bought a new stake in Teekay during the 3rd quarter worth about $27,000. Finally, U S Global Investors Inc. lifted its position in Teekay by 10.1% during the 3rd quarter. U S Global Investors Inc. now owns 44,216 shares of the shipping company’s stock valued at $362,000 after purchasing an additional 4,060 shares during the period. Institutional investors and hedge funds own 46.73% of the company’s stock.

Teekay Trading Up 2.5%

Shares of TK opened at $11.86 on Thursday. The stock has a market cap of $1.09 billion, a P/E ratio of 8.41 and a beta of 0.20. Teekay Corporation Ltd. has a 1 year low of $5.65 and a 1 year high of $11.95. The stock’s 50-day moving average price is $9.81 and its two-hundred day moving average price is $9.10.

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

Analyst Ratings Changes

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

Teekay Company Profile

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.