Philadelphia Financial Management of San Francisco LLC Reduces Position in Sprott Inc. $SII

Key Points

• Philadelphia Financial Management of San Francisco LLC reduced its stake in Sprott Inc. by 22.8%, holding 296,235 shares valued at approximately $13.29 million.
• Analysts have downgraded Sprott's rating from "buy" to "hold", and the stock currently has an average rating of "Moderate Buy".
• Sprott recently announced a quarterly dividend of $0.30 per share, reflecting an annual yield of 1.8% and a payout ratio of 62.18%.

Philadelphia Financial Management of San Francisco LLC trimmed its position in shares of Sprott Inc. (NYSE:SII - Free Report) by 22.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 296,235 shares of the company's stock after selling 87,272 shares during the period. Sprott accounts for 2.6% of Philadelphia Financial Management of San Francisco LLC's portfolio, making the stock its 16th largest holding. Philadelphia Financial Management of San Francisco LLC owned 1.15% of Sprott worth $13,292,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SII. Man Group plc bought a new stake in Sprott during the fourth quarter valued at about $484,000. Intact Investment Management Inc. raised its stake in Sprott by 92.8% during the 1st quarter. Intact Investment Management Inc. now owns 26,800 shares of the company's stock valued at $1,201,000 after purchasing an additional 12,900 shares during the period. Millennium Management LLC lifted its holdings in Sprott by 2,580.1% in the 4th quarter. Millennium Management LLC now owns 159,172 shares of the company's stock worth $6,709,000 after purchasing an additional 153,233 shares in the last quarter. Fidelis Capital Partners LLC bought a new position in Sprott in the 1st quarter worth approximately $247,000. Finally, Harbour Capital Advisors LLC purchased a new stake in Sprott during the 1st quarter valued at approximately $446,000. Institutional investors own 28.30% of the company's stock.

Analyst Upgrades and Downgrades

Separately, TD Securities downgraded shares of Sprott from a "buy" rating to a "hold" rating in a report on Tuesday, July 22nd. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy".

Sprott Trading Up 1.1%

Shares of SII stock traded up $0.75 on Wednesday, reaching $68.91. The company's stock had a trading volume of 74,375 shares, compared to its average volume of 169,157. The stock's fifty day simple moving average is $68.20 and its 200-day simple moving average is $57.76. Sprott Inc. has a 1 year low of $38.88 and a 1 year high of $77.16. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 35.71 and a beta of 1.01.

Sprott (NYSE:SII - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.14. Sprott had a net margin of 25.21% and a return on equity of 15.04%. The business had revenue of $41.97 million during the quarter, compared to analysts' expectations of $44.66 million.

Sprott Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Monday, August 18th. Sprott's payout ratio is presently 62.18%.

About Sprott

Sprott Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides asset management, portfolio management, wealth management, fund management, and administrative and consulting services to its clients. It offers mutual funds, hedge funds, and offshore funds, along with managed accounts.