Principal Financial Group Inc. Has $52.82 Million Stock Holdings in Teekay Tankers Ltd. (NYSE:TNK)

Principal Financial Group Inc. lifted its holdings in shares of Teekay Tankers Ltd. (NYSE:TNK) by 9.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 906,700 shares of the shipping company’s stock after buying an additional 80,217 shares during the period. Principal Financial Group Inc. owned about 2.64% of Teekay Tankers worth $52,815,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its stake in Teekay Tankers by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,059,543 shares of the shipping company’s stock valued at $141,723,000 after acquiring an additional 13,330 shares during the last quarter. FMR LLC grew its stake in shares of Teekay Tankers by 9.2% in the third quarter. FMR LLC now owns 1,480,670 shares of the shipping company’s stock valued at $86,249,000 after acquiring an additional 124,659 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Teekay Tankers by 41.3% during the 2nd quarter. Acadian Asset Management LLC now owns 935,652 shares of the shipping company’s stock worth $64,361,000 after purchasing an additional 273,530 shares in the last quarter. American Century Companies Inc. grew its position in Teekay Tankers by 15.0% during the second quarter. American Century Companies Inc. now owns 719,298 shares of the shipping company’s stock worth $49,495,000 after buying an additional 93,788 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Teekay Tankers by 20.9% in the second quarter. Renaissance Technologies LLC now owns 714,612 shares of the shipping company’s stock worth $49,172,000 after purchasing an additional 123,500 shares during the period. 52.67% of the stock is owned by institutional investors and hedge funds.

Teekay Tankers Stock Performance

TNK opened at $37.51 on Monday. Teekay Tankers Ltd. has a fifty-two week low of $36.04 and a fifty-two week high of $74.20. The firm has a 50-day moving average of $44.55 and a 200 day moving average of $55.31. The firm has a market cap of $1.29 billion, a P/E ratio of 3.08, a PEG ratio of 1.13 and a beta of -0.39.

Teekay Tankers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, November 12th. This represents a $1.00 annualized dividend and a dividend yield of 2.67%. Teekay Tankers’s payout ratio is currently 8.21%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Jefferies Financial Group lowered their price objective on shares of Teekay Tankers from $72.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Bank of America reaffirmed an “underperform” rating and set a $46.00 price target (down previously from $51.00) on shares of Teekay Tankers in a research note on Wednesday, November 13th. Fearnley Fonds raised Teekay Tankers to a “strong-buy” rating in a research note on Friday, September 27th. Finally, StockNews.com initiated coverage on shares of Teekay Tankers in a report on Thursday, October 10th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Teekay Tankers currently has an average rating of “Moderate Buy” and an average target price of $63.67.

Teekay Tankers Profile

Teekay Tankers Ltd. provides crude oil and other marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products; and tanker commercial and technical management services.