Ameriprise Financial Inc. Sells 35,756 Shares of Seagate Technology PLC (STX)

Ameriprise Financial Inc. lessened its position in Seagate Technology PLC (NASDAQ:STX) by 11.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 274,970 shares of the data storage provider’s stock after selling 35,756 shares during the period. Ameriprise Financial Inc. owned 0.10% of Seagate Technology worth $9,132,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in shares of Seagate Technology by 74.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,650,262 shares of the data storage provider’s stock valued at $63,947,000 after buying an additional 703,822 shares during the last quarter. CIBC World Markets Inc. bought a new stake in shares of Seagate Technology in the 2nd quarter valued at about $9,699,000. Aviva PLC grew its position in shares of Seagate Technology by 2.8% in the 2nd quarter. Aviva PLC now owns 181,216 shares of the data storage provider’s stock valued at $7,022,000 after buying an additional 4,950 shares during the last quarter. Cetera Investment Advisers bought a new stake in shares of Seagate Technology in the 2nd quarter valued at about $344,000. Finally, Iat Reinsurance Co. LTD. bought a new stake in shares of Seagate Technology during the 3rd quarter valued at about $12,455,000. Hedge funds and other institutional investors own 91.30% of the company’s stock.

Several brokerages recently commented on STX. Vetr lowered Seagate Technology from a “strong-buy” rating to a “buy” rating and set a $45.46 target price on the stock. in a research report on Tuesday, December 12th. BidaskClub upgraded Seagate Technology from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 8th. KeyCorp restated a “hold” rating on shares of Seagate Technology in a research report on Monday, October 23rd. Guggenheim restated a “hold” rating on shares of Seagate Technology in a research report on Monday, October 23rd. Finally, BMO Capital Markets restated a “hold” rating and set a $40.00 target price on shares of Seagate Technology in a research report on Monday, October 23rd. Four research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $41.53.

In related news, insider Jeffrey D. Nygaard acquired 5,000 shares of the stock in a transaction dated Friday, October 27th. The stock was purchased at an average cost of $37.38 per share, with a total value of $186,900.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward J. Zander sold 15,089 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $38.79, for a total value of $585,302.31. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,481 shares of company stock worth $1,655,011. 0.87% of the stock is owned by company insiders.

Seagate Technology PLC (NASDAQ STX) opened at $42.17 on Friday. Seagate Technology PLC has a 52 week low of $30.60 and a 52 week high of $50.96. The company has a debt-to-equity ratio of 4.03, a quick ratio of 1.55 and a current ratio of 1.96. The firm has a market capitalization of $12,200.00, a P/E ratio of 15.97, a P/E/G ratio of 0.55 and a beta of 1.67.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Monday, October 23rd. The data storage provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.10. Seagate Technology had a return on equity of 84.50% and a net margin of 7.41%. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the prior year, the business earned $0.99 EPS. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. analysts anticipate that Seagate Technology PLC will post 4 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Wednesday, December 20th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 5.98%. The ex-dividend date is Tuesday, December 19th. Seagate Technology’s dividend payout ratio (DPR) is currently 95.45%.

ILLEGAL ACTIVITY WARNING: This article was originally published by Community Financial News and is the property of of Community Financial News. If you are viewing this article on another publication, it was illegally stolen and republished in violation of U.S. and international trademark and copyright legislation. The original version of this article can be accessed at https://www.com-unik.info/2017/12/23/ameriprise-financial-inc-sells-35756-shares-of-seagate-technology-plc-stx.html.

About Seagate Technology

Seagate Technology public limited company is a provider of electronic data storage technology and solutions. The Company’s principal products are hard disk drives (HDDs). In addition to HDDs, it produces a range of electronic data storage products, including solid state hybrid drives, solid state drives, peripheral component interconnect express (PCIe) cards and serial advanced technology architecture (SATA) controllers.

Institutional Ownership by Quarter for Seagate Technology (NASDAQ:STX)

What are top analysts saying about Seagate Technology? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Seagate Technology and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit