Principal Financial Group Inc. Cuts Stake in Sea Limited (NYSE:SE)

Principal Financial Group Inc. lessened its holdings in shares of Sea Limited (NYSE:SE) by 24.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 151,612 shares of the Internet company based in Singapore’s stock after selling 47,808 shares during the period. Principal Financial Group Inc.’s holdings in SEA were worth $14,294,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in SE. American Trust purchased a new stake in SEA during the 3rd quarter worth approximately $294,000. Tidal Investments LLC grew its holdings in shares of SEA by 1,270.6% during the third quarter. Tidal Investments LLC now owns 109,034 shares of the Internet company based in Singapore’s stock valued at $10,280,000 after buying an additional 101,079 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of SEA in the 3rd quarter valued at $290,000. Sanctuary Advisors LLC raised its stake in SEA by 14.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 6,214 shares of the Internet company based in Singapore’s stock worth $586,000 after acquiring an additional 782 shares during the last quarter. Finally, SOA Wealth Advisors LLC. lifted its position in SEA by 33.3% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 600 shares of the Internet company based in Singapore’s stock worth $57,000 after acquiring an additional 150 shares during the period. Institutional investors and hedge funds own 59.53% of the company’s stock.

SEA Stock Down 0.8 %

Shares of SE opened at $108.72 on Friday. The firm has a market cap of $62.22 billion, a P/E ratio of 724.80 and a beta of 1.53. Sea Limited has a 12 month low of $34.35 and a 12 month high of $119.47. The stock’s 50 day moving average is $107.58 and its two-hundred day moving average is $88.64. The company has a current ratio of 1.62, a quick ratio of 1.60 and a debt-to-equity ratio of 0.36.

SEA (NYSE:SE) last released its quarterly earnings results on Tuesday, November 12th. The Internet company based in Singapore reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.35). The company had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.09 billion. SEA had a net margin of 0.64% and a return on equity of 1.40%. SEA’s revenue was up 30.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.26) EPS. Analysts predict that Sea Limited will post 0.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Bank of America increased their price objective on SEA from $84.00 to $96.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Benchmark raised their price target on shares of SEA from $94.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Wedbush reaffirmed an “outperform” rating and issued a $105.00 price objective (up from $84.00) on shares of SEA in a report on Monday, November 4th. TD Cowen boosted their target price on shares of SEA from $69.00 to $100.00 and gave the company a “hold” rating in a research report on Wednesday, November 13th. Finally, Dbs Bank raised SEA from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $91.21.

SEA Profile

Sea Ltd. is an internet and mobile platform company, which engages in the provision of online gaming services. It operates through the following segments: Digital Entertainment, E-Commerce, and Digital Financial Services. The Digital Entertainment segment offers and develops mobile and PC online games.