Zurich Insurance Group Ltd FI Invests $1.68 Million in Franco-Nevada Co. (NYSE:FNV)

Zurich Insurance Group Ltd FI purchased a new position in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 14,300 shares of the basic materials company's stock, valued at approximately $1,679,000.

Several other hedge funds and other institutional investors have also modified their holdings of FNV. Physician Wealth Advisors Inc. acquired a new stake in Franco-Nevada in the fourth quarter valued at approximately $49,000. Harbour Investments Inc. increased its stake in shares of Franco-Nevada by 25.8% during the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company's stock worth $53,000 after purchasing an additional 93 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Franco-Nevada by 538.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 607 shares of the basic materials company's stock valued at $71,000 after purchasing an additional 512 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Franco-Nevada in the 4th quarter valued at $73,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of Franco-Nevada by 25.6% in the 4th quarter. Jones Financial Companies Lllp now owns 619 shares of the basic materials company's stock valued at $73,000 after purchasing an additional 126 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Franco-Nevada Trading Up 2.4%

NYSE:FNV traded up $3.97 during mid-day trading on Monday, hitting $168.00. The company's stock had a trading volume of 483,799 shares, compared to its average volume of 726,544. The stock has a fifty day moving average of $161.70 and a 200-day moving average of $140.83. The company has a market capitalization of $32.35 billion, a price-to-earnings ratio of -53.17, a P/E/G ratio of 9.78 and a beta of 0.45. Franco-Nevada Co. has a fifty-two week low of $112.70 and a fifty-two week high of $178.74.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its earnings results on Thursday, May 8th. The basic materials company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.00 by $0.07. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The business had revenue of $368.40 million during the quarter, compared to the consensus estimate of $328.79 million. During the same quarter last year, the company earned $0.76 EPS. Franco-Nevada's revenue was up 43.5% on a year-over-year basis. On average, equities analysts anticipate that Franco-Nevada Co. will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $1.52 annualized dividend and a yield of 0.90%. Franco-Nevada's dividend payout ratio is 47.50%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Royal Bank of Canada raised their target price on Franco-Nevada from $145.00 to $155.00 and gave the company a "sector perform" rating in a report on Tuesday, February 11th. UBS Group increased their price objective on Franco-Nevada from $170.00 to $190.00 and gave the company a "buy" rating in a report on Friday, April 11th. HC Wainwright boosted their target price on Franco-Nevada from $165.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, March 26th. BMO Capital Markets assumed coverage on Franco-Nevada in a research report on Wednesday, April 16th. They set an "outperform" rating for the company. Finally, Scotiabank increased their price target on Franco-Nevada from $165.00 to $169.00 and gave the company a "sector perform" rating in a report on Monday, May 12th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Franco-Nevada has a consensus rating of "Moderate Buy" and a consensus target price of $162.75.

Franco-Nevada Profile

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.