KAMES CAPITAL plc Takes Position in Principal Financial Group Inc (PFG)

KAMES CAPITAL plc acquired a new position in shares of Principal Financial Group Inc (NYSE:PFG) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 6,365 shares of the financial services provider’s stock, valued at approximately $373,000.

Other hedge funds have also recently modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new position in Principal Financial Group during the second quarter worth $100,000. First Mercantile Trust Co. raised its holdings in shares of Principal Financial Group by 101.1% in the second quarter. First Mercantile Trust Co. now owns 1,910 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 960 shares during the last quarter. Point72 Asia Hong Kong Ltd acquired a new position in shares of Principal Financial Group in the first quarter worth $113,000. Dupont Capital Management Corp raised its holdings in shares of Principal Financial Group by 140.2% in the second quarter. Dupont Capital Management Corp now owns 2,356 shares of the financial services provider’s stock worth $125,000 after acquiring an additional 1,375 shares during the last quarter. Finally, Focused Wealth Management Inc raised its holdings in shares of Principal Financial Group by 2,090.9% in the second quarter. Focused Wealth Management Inc now owns 2,410 shares of the financial services provider’s stock worth $128,000 after acquiring an additional 2,300 shares during the last quarter. 68.64% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently weighed in on PFG shares. Credit Suisse Group cut their price target on Principal Financial Group from $62.00 to $56.00 and set a “neutral” rating for the company in a report on Friday, August 17th. UBS Group boosted their price target on Principal Financial Group from $57.00 to $59.00 and gave the stock a “neutral” rating in a report on Monday, October 8th. Morgan Stanley cut their price target on Principal Financial Group from $70.00 to $69.00 and set an “equal weight” rating for the company in a report on Wednesday, July 11th. Zacks Investment Research raised Principal Financial Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 1st. Finally, Barclays cut their price target on Principal Financial Group from $72.00 to $68.00 and set an “overweight” rating for the company in a report on Monday, July 9th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $66.40.

NYSE PFG opened at $55.14 on Friday. Principal Financial Group Inc has a fifty-two week low of $52.31 and a fifty-two week high of $75.58. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.26.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Thursday, July 26th. The financial services provider reported $1.35 EPS for the quarter, missing the Zacks’ consensus estimate of $1.37 by ($0.02). The business had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.58 billion. Principal Financial Group had a net margin of 12.35% and a return on equity of 13.55%. During the same period in the prior year, the firm earned $1.31 EPS. As a group, equities research analysts anticipate that Principal Financial Group Inc will post 5.22 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Thursday, September 6th were given a $0.53 dividend. The ex-dividend date of this dividend was Wednesday, September 5th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.84%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.52.

In other news, insider James P. Mccaughan sold 20,000 shares of Principal Financial Group stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $55.42, for a total value of $1,108,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Amy Christine Friedrich sold 1,700 shares of Principal Financial Group stock in a transaction on Friday, October 5th. The shares were sold at an average price of $61.00, for a total value of $103,700.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,700 shares of company stock valued at $2,320,900. Company insiders own 1.50% of the company’s stock.

About Principal Financial Group

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. It operates through Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.

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Institutional Ownership by Quarter for Principal Financial Group (NYSE:PFG)

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