Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Principal Financial Group Inc (NYSE:PFG) by 5.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,132 shares of the financial services provider’s stock after purchasing an additional 771 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Principal Financial Group were worth $759,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of PFG. FTB Advisors Inc. boosted its stake in Principal Financial Group by 377.3% in the 1st quarter. FTB Advisors Inc. now owns 525 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 415 shares during the period. NuWave Investment Management LLC boosted its stake in Principal Financial Group by 464.4% in the 1st quarter. NuWave Investment Management LLC now owns 570 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 469 shares during the period. Transamerica Financial Advisors Inc. boosted its stake in Principal Financial Group by 644.9% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 797 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 690 shares during the period. Bremer Trust National Association bought a new position in Principal Financial Group in the 4th quarter worth approximately $41,000. Finally, Lindbrook Capital LLC bought a new position in Principal Financial Group in the 4th quarter worth approximately $42,000. Institutional investors and hedge funds own 68.64% of the company’s stock.
Several research analysts have weighed in on PFG shares. UBS Group downgraded Principal Financial Group from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $46.00 to $45.00 in a research note on Tuesday, February 5th. Royal Bank of Canada upped their price target on Principal Financial Group to $55.00 and gave the stock a “market perform” rating in a research note on Monday, April 29th. TheStreet upgraded Principal Financial Group from a “c+” rating to a “b-” rating in a research note on Monday, January 28th. Finally, Zacks Investment Research upgraded Principal Financial Group from a “sell” rating to a “hold” rating and set a $59.00 price target for the company in a research note on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. Principal Financial Group currently has a consensus rating of “Hold” and an average target price of $57.50.
In other news, EVP Julia M. Lawler sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $50.74, for a total transaction of $50,740.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 3,000 shares of company stock worth $160,370 over the last ninety days. Insiders own 1.50% of the company’s stock.
Shares of PFG opened at $54.22 on Friday. Principal Financial Group Inc has a 1 year low of $40.42 and a 1 year high of $61.12.
Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.11. The firm had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same period last year, the company earned $1.40 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.54 per share. The ex-dividend date is Friday, May 31st. This represents a $2.16 annualized dividend and a dividend yield of 3.98%.
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About Principal Financial Group
Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.
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