Principal Financial Group Inc. Has $217,000 Stock Position in Transocean Ltd. (NYSE:RIG)

Principal Financial Group Inc. cut its stake in shares of Transocean Ltd. (NYSE:RIG) by 28.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 51,007 shares of the offshore drilling services provider’s stock after selling 20,511 shares during the quarter. Principal Financial Group Inc.’s holdings in Transocean were worth $217,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its holdings in Transocean by 138.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,633 shares of the offshore drilling services provider’s stock worth $25,000 after acquiring an additional 2,693 shares during the last quarter. Nisa Investment Advisors LLC acquired a new stake in Transocean in the second quarter valued at $30,000. SG Americas Securities LLC bought a new position in Transocean during the 2nd quarter worth $64,000. CWM LLC lifted its holdings in Transocean by 36.1% during the 3rd quarter. CWM LLC now owns 17,065 shares of the offshore drilling services provider’s stock worth $73,000 after buying an additional 4,529 shares during the period. Finally, Smith Anglin Financial LLC bought a new stake in shares of Transocean in the 3rd quarter valued at about $75,000. 67.73% of the stock is currently owned by institutional investors.

Transocean Trading Down 2.0 %

NYSE RIG opened at $4.38 on Tuesday. The company has a quick ratio of 1.34, a current ratio of 1.64 and a debt-to-equity ratio of 0.64. Transocean Ltd. has a 52 week low of $3.85 and a 52 week high of $6.88. The business has a 50 day moving average price of $4.33 and a 200-day moving average price of $4.93. The company has a market cap of $3.84 billion, a price-to-earnings ratio of -5.84 and a beta of 2.78.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RIG. Benchmark downgraded shares of Transocean from a “buy” rating to a “hold” rating in a research report on Tuesday, October 15th. DNB Markets raised shares of Transocean from a “hold” rating to a “buy” rating in a research note on Tuesday, September 3rd. Barclays cut their price target on shares of Transocean from $6.00 to $4.50 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Morgan Stanley lifted their price objective on Transocean from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 3rd. Finally, StockNews.com upgraded Transocean to a “sell” rating in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $6.63.

Insider Buying and Selling at Transocean

In other Transocean news, Director Perestroika purchased 1,500,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were acquired at an average price of $4.13 per share, with a total value of $6,195,000.00. Following the transaction, the director now owns 91,074,894 shares in the company, valued at $376,139,312.22. The trade was a 1.67 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Roderick James Mackenzie sold 20,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $4.29, for a total value of $85,800.00. Following the completion of the sale, the executive vice president now directly owns 310,857 shares of the company’s stock, valued at approximately $1,333,576.53. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 13.16% of the stock is currently owned by company insiders.

About Transocean

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. The company operates a fleet of mobile offshore drilling units, consisting of ultra-deepwater floaters and harsh environment floaters.