Principal Financial Group Inc. Has $7.71 Million Stock Position in International Seaways Inc. (NYSE:INSW)

Principal Financial Group Inc. boosted its position in shares of International Seaways Inc. (NYSE:INSW - Free Report) by 3.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 232,362 shares of the transportation company's stock after purchasing an additional 7,818 shares during the quarter. Principal Financial Group Inc. owned approximately 0.47% of International Seaways worth $7,714,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. New York State Teachers Retirement System increased its stake in International Seaways by 139.9% in the first quarter. New York State Teachers Retirement System now owns 20,794 shares of the transportation company's stock valued at $690,000 after purchasing an additional 12,128 shares during the last quarter. KBC Group NV increased its stake in International Seaways by 61.2% during the first quarter. KBC Group NV now owns 2,800 shares of the transportation company's stock worth $93,000 after acquiring an additional 1,063 shares during the last quarter. U S Global Investors Inc. purchased a new stake in shares of International Seaways in the first quarter worth about $132,000. Illinois Municipal Retirement Fund purchased a new stake in shares of International Seaways in the first quarter worth about $671,000. Finally, Blue Trust Inc. boosted its stake in shares of International Seaways by 87.3% during the 1st quarter. Blue Trust Inc. now owns 1,583 shares of the transportation company's stock valued at $53,000 after buying an additional 738 shares during the last quarter. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at International Seaways

In related news, CEO Lois K. Zabrocky sold 2,000 shares of the business's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $38.62, for a total transaction of $77,240.00. Following the transaction, the chief executive officer directly owned 192,771 shares in the company, valued at $7,444,816.02. The trade was a 1.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Derek G. Solon sold 1,500 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $38.22, for a total value of $57,330.00. Following the sale, the senior vice president owned 55,893 shares in the company, valued at approximately $2,136,230.46. This trade represents a 2.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,500 shares of company stock worth $473,730 over the last three months. Company insiders own 2.00% of the company's stock.

International Seaways Stock Down 0.9%

Shares of INSW stock traded down $0.36 on Friday, reaching $38.91. 378,329 shares of the company's stock traded hands, compared to its average volume of 758,059. International Seaways Inc. has a 12-month low of $27.20 and a 12-month high of $58.73. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.75 and a current ratio of 2.76. The company has a market capitalization of $1.92 billion, a P/E ratio of 6.01 and a beta of 0.05. The business's 50 day moving average price is $38.35 and its two-hundred day moving average price is $36.48.

International Seaways (NYSE:INSW - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The transportation company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.21. International Seaways had a return on equity of 14.98% and a net margin of 37.39%. The company had revenue of $178.34 million during the quarter, compared to analysts' expectations of $176.49 million. During the same quarter in the previous year, the firm earned $2.92 earnings per share. The business's quarterly revenue was down 32.9% compared to the same quarter last year. On average, equities analysts forecast that International Seaways Inc. will post 7.77 earnings per share for the current year.

International Seaways Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 12th were paid a dividend of $0.12 per share. The ex-dividend date was Thursday, June 12th. This represents a $0.48 annualized dividend and a yield of 1.23%. International Seaways's dividend payout ratio is 7.42%.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reiterated a "buy" rating and issued a $48.00 target price on shares of International Seaways in a research report on Thursday, May 8th.

International Seaways Profile

International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the international flag trade. It operates in two segments: Crude Tankers and Product Carriers. As of December 31, 2023, the company owned a fleet of 73 vessels. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.