Principal Financial Group Inc. Sells 148,396 Shares of Sempra (NYSE:SRE)

Principal Financial Group Inc. lessened its holdings in Sempra (NYSE:SRE) by 8.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,637,235 shares of the utilities provider’s stock after selling 148,396 shares during the quarter. Principal Financial Group Inc. owned approximately 0.26% of Sempra worth $136,922,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of SRE. Eastern Bank bought a new position in shares of Sempra in the third quarter worth about $28,000. Hollencrest Capital Management grew its stake in Sempra by 250.0% in the 3rd quarter. Hollencrest Capital Management now owns 378 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 270 shares in the last quarter. Family Firm Inc. purchased a new position in shares of Sempra during the second quarter worth approximately $30,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Sempra during the second quarter valued at approximately $33,000. Finally, LRI Investments LLC boosted its holdings in shares of Sempra by 180.4% in the third quarter. LRI Investments LLC now owns 443 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 285 shares during the period. Hedge funds and other institutional investors own 89.65% of the company’s stock.

Sempra Stock Performance

Shares of SRE opened at $86.81 on Friday. The company has a current ratio of 0.52, a quick ratio of 0.47 and a debt-to-equity ratio of 0.89. The firm has a market cap of $54.99 billion, a PE ratio of 19.12, a P/E/G ratio of 2.45 and a beta of 0.77. Sempra has a 12 month low of $66.40 and a 12 month high of $95.77. The stock has a fifty day moving average price of $88.58 and a 200-day moving average price of $82.54.

Sempra (NYSE:SRE) last released its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.16). Sempra had a net margin of 22.63% and a return on equity of 8.06%. The business had revenue of $2.78 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same quarter last year, the business posted $1.08 earnings per share. The company’s quarterly revenue was down 16.7% compared to the same quarter last year. Equities research analysts predict that Sempra will post 4.76 earnings per share for the current fiscal year.

Sempra Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $2.48 dividend on an annualized basis and a yield of 2.86%. Sempra’s payout ratio is 54.63%.

Wall Street Analysts Forecast Growth

SRE has been the topic of several research reports. BMO Capital Markets raised their price objective on Sempra from $93.00 to $96.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Morgan Stanley raised shares of Sempra from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $85.00 to $98.00 in a research note on Friday, December 13th. Barclays raised their target price on shares of Sempra from $89.00 to $99.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Evercore ISI upped their price target on shares of Sempra from $84.00 to $88.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Bank of America initiated coverage on shares of Sempra in a research note on Thursday, September 12th. They issued a “buy” rating and a $94.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $91.60.

Insiders Place Their Bets

In related news, VP Trevor I. Mihalik sold 23,713 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $93.09, for a total value of $2,207,443.17. Following the completion of the transaction, the vice president now owns 11,190 shares in the company, valued at $1,041,677.10. This trade represents a 67.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.24% of the company’s stock.

About Sempra

Sempra operates as an energy infrastructure company in the United States and internationally. It operates through three segments: Sempra California, Sempra Texas Utilities, and Sempra Infrastructure. The Sempra California segment provides electric services; and natural gas services to San Diego County.