Piedmont Investment Advisors LLC boosted its holdings in shares of Principal Financial Group Inc (NYSE:PFG) by 13.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 115,130 shares of the financial services provider’s stock after purchasing an additional 13,205 shares during the quarter. Piedmont Investment Advisors LLC’s holdings in Principal Financial Group were worth $7,376,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of PFG. Sun Life Financial INC boosted its position in Principal Financial Group by 21,822.2% during the second quarter. Sun Life Financial INC now owns 1,973 shares of the financial services provider’s stock worth $126,000 after purchasing an additional 1,964 shares in the last quarter. Jacobi Capital Management LLC boosted its position in Principal Financial Group by 291.1% during the first quarter. Jacobi Capital Management LLC now owns 2,691 shares of the financial services provider’s stock worth $167,000 after purchasing an additional 2,003 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in Principal Financial Group during the first quarter worth approximately $202,000. Blair William & Co. IL purchased a new position in Principal Financial Group during the first quarter worth approximately $205,000. Finally, Eagle Global Advisors LLC purchased a new position in Principal Financial Group during the second quarter worth approximately $207,000. Institutional investors own 68.26% of the company’s stock.
A number of equities analysts have issued reports on PFG shares. Wells Fargo & Company reiterated a “buy” rating on shares of Principal Financial Group in a research report on Thursday, June 29th. Zacks Investment Research upgraded Principal Financial Group from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Tuesday, August 1st. Royal Bank Of Canada reiterated a “buy” rating and set a $73.00 price target on shares of Principal Financial Group in a research report on Wednesday, July 12th. BidaskClub upgraded Principal Financial Group from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Finally, Barclays PLC increased their price target on Principal Financial Group from $61.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. Principal Financial Group currently has a consensus rating of “Hold” and an average target price of $66.00.
In related news, EVP Gary P. Scholten sold 13,495 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $67.00, for a total value of $904,165.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider James P. Mccaughan sold 60,817 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $66.98, for a total value of $4,073,522.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 150,272 shares of company stock worth $9,696,407. Insiders own 1.50% of the company’s stock.
Principal Financial Group Inc (NYSE PFG) traded up 0.61% during trading on Friday, hitting $67.74. The stock had a trading volume of 192,176 shares. The firm has a market cap of $19.57 billion, a P/E ratio of 15.40 and a beta of 1.67. The stock’s 50 day moving average price is $63.65 and its 200 day moving average price is $64.00. Principal Financial Group Inc has a 12-month low of $52.08 and a 12-month high of $67.95.
Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.09. The business had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Principal Financial Group had a return on equity of 13.57% and a net margin of 10.15%. During the same quarter in the prior year, the firm posted $1.15 EPS. On average, analysts anticipate that Principal Financial Group Inc will post $5.19 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 1st were issued a $0.47 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.79%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.46. Principal Financial Group’s dividend payout ratio is currently 42.73%.
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Principal Financial Group Company Profile
Principal Financial Group, Inc is an investment management company. The Company offers a range of financial products and services, including retirement, asset management and insurance. Its segments include Retirement and Income Solutions; Principal Global Investors, Principal International; U.S. Insurance Solutions, and Corporate.
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