Principal Financial Group Inc. Has $254,000 Holdings in Golar LNG Limited (NASDAQ:GLNG)

Principal Financial Group Inc. cut its stake in Golar LNG Limited (NASDAQ:GLNG) by 28.9% in the third quarter, Holdings Channel.com reports. The firm owned 6,904 shares of the shipping company’s stock after selling 2,800 shares during the period. Principal Financial Group Inc.’s holdings in Golar LNG were worth $254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of GLNG. Public Employees Retirement System of Ohio bought a new stake in shares of Golar LNG in the third quarter valued at about $32,000. Blue Trust Inc. raised its holdings in Golar LNG by 105.1% in the 3rd quarter. Blue Trust Inc. now owns 1,372 shares of the shipping company’s stock valued at $50,000 after acquiring an additional 703 shares in the last quarter. Sound Income Strategies LLC bought a new stake in shares of Golar LNG in the 3rd quarter worth approximately $52,000. CWM LLC grew its holdings in shares of Golar LNG by 830.9% during the 3rd quarter. CWM LLC now owns 1,657 shares of the shipping company’s stock worth $61,000 after purchasing an additional 1,479 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Golar LNG by 206.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,727 shares of the shipping company’s stock valued at $54,000 after purchasing an additional 1,163 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GLNG has been the subject of several research reports. Stifel Nicolaus raised their target price on Golar LNG from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, December 24th. StockNews.com upgraded shares of Golar LNG to a “sell” rating in a research report on Monday, December 9th. Finally, Fearnley Fonds cut shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Golar LNG presently has an average rating of “Moderate Buy” and an average price target of $50.13.

Golar LNG Stock Down 1.3 %

Shares of NASDAQ GLNG opened at $42.95 on Tuesday. Golar LNG Limited has a 52-week low of $19.94 and a 52-week high of $44.36. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.28 and a current ratio of 1.55. The business has a fifty day moving average of $39.72 and a two-hundred day moving average of $36.17. The stock has a market cap of $4.48 billion, a PE ratio of 306.81 and a beta of 0.59.

Golar LNG Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 25th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a yield of 2.33%. Golar LNG’s dividend payout ratio (DPR) is presently 714.29%.

Golar LNG Company Profile

Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities.