Principal Financial Group Inc. Reduces Stock Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Principal Financial Group Inc. decreased its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 13.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 306,470 shares of the data storage provider’s stock after selling 47,543 shares during the quarter. Principal Financial Group Inc. owned about 0.14% of Seagate Technology worth $26,451,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STX. Foundations Investment Advisors LLC raised its holdings in Seagate Technology by 10.2% in the third quarter. Foundations Investment Advisors LLC now owns 2,299 shares of the data storage provider’s stock worth $252,000 after purchasing an additional 213 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in Seagate Technology by 3.6% in the third quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the data storage provider’s stock worth $281,000 after purchasing an additional 89 shares in the last quarter. Signaturefd LLC raised its holdings in Seagate Technology by 14.0% in the third quarter. Signaturefd LLC now owns 4,875 shares of the data storage provider’s stock worth $534,000 after purchasing an additional 600 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Seagate Technology by 3,549.7% in the third quarter. International Assets Investment Management LLC now owns 204,493 shares of the data storage provider’s stock worth $22,398,000 after purchasing an additional 198,890 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in Seagate Technology by 6.3% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 16,672 shares of the data storage provider’s stock worth $1,826,000 after purchasing an additional 988 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Insiders Place Their Bets

In other news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $102.83, for a total transaction of $2,056,600.00. Following the transaction, the chief executive officer now directly owns 622,497 shares of the company’s stock, valued at $64,011,366.51. The trade was a 3.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $101.82, for a total value of $76,365.00. Following the transaction, the director now directly owns 6,555 shares in the company, valued at approximately $667,430.10. The trade was a 10.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,891 shares of company stock valued at $2,146,848. Insiders own 0.81% of the company’s stock.

Seagate Technology Stock Performance

Shares of NASDAQ:STX opened at $100.85 on Friday. The stock has a market capitalization of $21.35 billion, a price-to-earnings ratio of 18.44 and a beta of 1.07. The stock’s 50-day simple moving average is $95.02 and its two-hundred day simple moving average is $99.84. Seagate Technology Holdings plc has a 52-week low of $82.31 and a 52-week high of $115.32.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th will be given a $0.72 dividend. The ex-dividend date is Wednesday, March 19th. This represents a $2.88 annualized dividend and a yield of 2.86%. Seagate Technology’s payout ratio is 52.65%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. UBS Group raised their price target on Seagate Technology from $95.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Morgan Stanley reduced their price target on Seagate Technology from $133.00 to $129.00 and set an “overweight” rating for the company in a report on Tuesday, January 21st. Summit Insights upgraded Seagate Technology from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Bank of America raised their price target on Seagate Technology from $124.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Finally, Wedbush restated an “outperform” rating and set a $150.00 price target on shares of Seagate Technology in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $122.56.

Seagate Technology Company Profile

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.