Russell Investments Group Ltd. Reduces Stock Position in Sprott Inc. $SII

Key Points

• Russell Investments Group Ltd. has reduced its stake in Sprott Inc. by 11.4%, now holding approximately 37,759 shares valued at $1.69 million.
• Sprott's shares have recently been downgraded by TD Securities from a "buy" to a "hold" rating, although the consensus rating remains a "Moderate Buy."
• The company has announced a quarterly dividend of $0.30 per share, representing an annualized dividend of $1.20 and a yield of 1.8%.

Russell Investments Group Ltd. lessened its holdings in Sprott Inc. (NYSE:SII - Free Report) by 11.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,759 shares of the company's stock after selling 4,866 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.15% of Sprott worth $1,691,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Man Group plc acquired a new position in Sprott in the fourth quarter valued at $484,000. Intact Investment Management Inc. boosted its stake in Sprott by 92.8% in the first quarter. Intact Investment Management Inc. now owns 26,800 shares of the company's stock valued at $1,201,000 after acquiring an additional 12,900 shares in the last quarter. Millennium Management LLC boosted its stake in Sprott by 2,580.1% in the fourth quarter. Millennium Management LLC now owns 159,172 shares of the company's stock valued at $6,709,000 after acquiring an additional 153,233 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in Sprott in the first quarter valued at $247,000. Finally, Harbour Capital Advisors LLC acquired a new position in Sprott in the first quarter valued at $446,000. Hedge funds and other institutional investors own 28.30% of the company's stock.

Wall Street Analyst Weigh In

Separately, TD Securities downgraded shares of Sprott from a "buy" rating to a "hold" rating in a research note on Tuesday, July 22nd. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Sprott presently has a consensus rating of "Moderate Buy".

Sprott Stock Performance

Shares of SII opened at $65.01 on Wednesday. Sprott Inc. has a fifty-two week low of $38.44 and a fifty-two week high of $77.16. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 33.68 and a beta of 1.04. The firm has a 50-day simple moving average of $68.17 and a 200-day simple moving average of $56.14.

Sprott (NYSE:SII - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $44.66 million.

Sprott Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be paid a dividend of $0.30 per share. The ex-dividend date is Monday, August 18th. This represents a $1.20 annualized dividend and a dividend yield of 1.8%. Sprott's dividend payout ratio is 62.18%.

Sprott Profile

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.

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