Sprott Inc. (NYSE:SII) Shares Acquired by Essex Financial Services Inc.

by · The Markets Daily

Essex Financial Services Inc. grew its position in Sprott Inc. (NYSE:SII – Free Report) by 9.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,678 shares of the company’s stock after purchasing an additional 477 shares during the period. Essex Financial Services Inc.’s holdings in Sprott were worth $255,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in shares of Sprott in the fourth quarter valued at about $20,936,000. Clean Energy Transition LLP increased its holdings in shares of Sprott by 110.6% in the fourth quarter. Clean Energy Transition LLP now owns 194,372 shares of the company’s stock valued at $8,197,000 after purchasing an additional 102,064 shares during the period. Horizon Kinetics Asset Management LLC grew its holdings in Sprott by 18.9% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 192,466 shares of the company’s stock worth $8,116,000 after acquiring an additional 30,622 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Sprott by 757.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 184,995 shares of the company’s stock worth $7,794,000 after acquiring an additional 163,427 shares during the period. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in Sprott during the fourth quarter worth about $7,039,000. 28.30% of the stock is owned by institutional investors and hedge funds.

Sprott Stock Down 1.1%

Sprott stock opened at $68.36 on Wednesday. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 35.60 and a beta of 1.04. Sprott Inc. has a 52 week low of $38.41 and a 52 week high of $69.54. The business’s 50-day moving average price is $58.93 and its 200 day moving average price is $48.89.

Sprott (NYSE:SII – Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.32 by $0.14. The firm had revenue of $37.38 million for the quarter, compared to analyst estimates of $40.48 million. Sprott had a return on equity of 15.34% and a net margin of 27.53%.

Sprott Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend was Tuesday, May 20th. Sprott’s payout ratio is currently 62.50%.

Wall Street Analysts Forecast Growth

Separately, BMO Capital Markets started coverage on Sprott in a report on Friday, March 7th. They set an “outperform” rating on the stock.

Read Our Latest Research Report on Sprott

Sprott Profile

(Free Report)

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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