Teekay Co. (NYSE:TK) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its stake in Teekay Co. (NYSE:TK) by 23.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,903 shares of the shipping company’s stock after buying an additional 5,223 shares during the period. Principal Financial Group Inc.’s holdings in Teekay were worth $257,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of TK. DGS Capital Management LLC lifted its position in Teekay by 81.0% in the third quarter. DGS Capital Management LLC now owns 38,787 shares of the shipping company’s stock valued at $357,000 after acquiring an additional 17,357 shares during the last quarter. Barclays PLC lifted its holdings in shares of Teekay by 267.9% in the 3rd quarter. Barclays PLC now owns 80,046 shares of the shipping company’s stock valued at $736,000 after purchasing an additional 58,290 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Teekay by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 803,936 shares of the shipping company’s stock valued at $7,452,000 after purchasing an additional 19,961 shares during the period. MML Investors Services LLC purchased a new position in Teekay during the 3rd quarter worth approximately $100,000. Finally, XTX Topco Ltd increased its position in Teekay by 165.5% during the third quarter. XTX Topco Ltd now owns 78,490 shares of the shipping company’s stock worth $722,000 after buying an additional 48,924 shares during the period. 46.73% of the stock is owned by hedge funds and other institutional investors.

Teekay Stock Performance

Shares of NYSE TK opened at $6.94 on Tuesday. The stock has a market cap of $637.34 million, a P/E ratio of 4.63 and a beta of 0.54. The stock has a 50 day moving average of $7.22 and a two-hundred day moving average of $8.02. Teekay Co. has a twelve month low of $5.98 and a twelve month high of $9.95.

Teekay Dividend Announcement

The firm also recently declared a — dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Wednesday, December 4th. Teekay’s dividend payout ratio is currently 16.67%.

Teekay Profile

Teekay Corporation engages in the international crude oil and other marine transportation services worldwide. The company owns and operates crude oil and refined product tankers. It also provides ship-to-ship support services; tanker commercial management operation services; and operational and maintenance marine services.