Markel Group Inc. Grows Stock Position in Franco-Nevada Corporation $FNV

Markel Group Inc. boosted its holdings in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 3.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 708,500 shares of the basic materials company's stock after buying an additional 25,000 shares during the period. Franco-Nevada accounts for approximately 1.5% of Markel Group Inc.'s holdings, making the stock its 16th largest holding. Markel Group Inc. owned approximately 0.37% of Franco-Nevada worth $175,035,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FNV. Norges Bank acquired a new position in shares of Franco-Nevada during the 4th quarter valued at about $578,577,000. First Eagle Investment Management LLC increased its position in Franco-Nevada by 26.5% during the fourth quarter. First Eagle Investment Management LLC now owns 5,123,444 shares of the basic materials company's stock worth $1,062,037,000 after purchasing an additional 1,074,257 shares during the last quarter. Van ECK Associates Corp raised its stake in Franco-Nevada by 12.8% during the fourth quarter. Van ECK Associates Corp now owns 7,441,133 shares of the basic materials company's stock worth $1,542,402,000 after purchasing an additional 842,132 shares during the period. Capital Research Global Investors boosted its holdings in shares of Franco-Nevada by 100.2% in the 4th quarter. Capital Research Global Investors now owns 1,277,889 shares of the basic materials company's stock valued at $264,882,000 after purchasing an additional 639,493 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in shares of Franco-Nevada by 30.7% during the 4th quarter. Deutsche Bank AG now owns 1,889,414 shares of the basic materials company's stock valued at $391,638,000 after buying an additional 443,839 shares during the period. Hedge funds and other institutional investors own 77.06% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on FNV shares. Jefferies Financial Group cut their target price on Franco-Nevada from $258.00 to $245.00 and set a "hold" rating on the stock in a research report on Monday, July 6th. UBS Group cut their price objective on Franco-Nevada from $310.00 to $280.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th. Zacks Research cut Franco-Nevada from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 31st. TD Securities upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating and set a $291.00 price target on the stock in a report on Wednesday, May 20th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $305.00 price target on shares of Franco-Nevada in a research report on Wednesday, May 13th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $275.00.

Franco-Nevada Stock Down 1.2%

Shares of NYSE FNV traded down $2.52 on Friday, hitting $205.57. The company had a trading volume of 407,728 shares, compared to its average volume of 757,434. Franco-Nevada Corporation has a 12-month low of $152.89 and a 12-month high of $285.67. The firm has a market capitalization of $39.65 billion, a P/E ratio of 28.95, a PEG ratio of 1.70 and a beta of 0.36. The business has a 50 day moving average of $221.55 and a two-hundred day moving average of $236.93.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its earnings results on Tuesday, May 12th. The basic materials company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.09 by $0.29. The business had revenue of $650.70 million for the quarter, compared to the consensus estimate of $634.43 million. Franco-Nevada had a return on equity of 18.10% and a net margin of 65.12%.The company's revenue was up 76.6% on a year-over-year basis. During the same period last year, the business posted $1.07 EPS. On average, sell-side analysts anticipate that Franco-Nevada Corporation will post 8.22 earnings per share for the current year.

Franco-Nevada Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were paid a dividend of $0.44 per share. The ex-dividend date was Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.9%. Franco-Nevada's dividend payout ratio (DPR) is currently 24.79%.

Franco-Nevada Profile

Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.

The company's business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.

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