Rockland Trust Co. boosted its holdings in Principal Financial Group Inc (NYSE:PFG) by 2.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,517 shares of the financial services provider’s stock after purchasing an additional 445 shares during the quarter. Rockland Trust Co.’s holdings in Principal Financial Group were worth $1,202,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. SRS Capital Advisors Inc. bought a new stake in shares of Principal Financial Group during the second quarter valued at approximately $25,000. Virtus ETF Advisers LLC increased its holdings in shares of Principal Financial Group by 73.0% during the second quarter. Virtus ETF Advisers LLC now owns 602 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 254 shares in the last quarter. Thor Advisors LLC bought a new stake in shares of Principal Financial Group during the first quarter valued at approximately $38,000. QCI Asset Management Inc. NY increased its holdings in shares of Principal Financial Group by 620.0% during the second quarter. QCI Asset Management Inc. NY now owns 756 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 651 shares in the last quarter. Finally, Personal Wealth Partners bought a new stake in shares of Principal Financial Group during the second quarter valued at approximately $51,000. Institutional investors and hedge funds own 68.64% of the company’s stock.
In related news, EVP Julia M. Lawler sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $57.56, for a total transaction of $57,560.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Luis E. Valdes sold 11,829 shares of Principal Financial Group stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $59.54, for a total value of $704,298.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,829 shares of company stock valued at $872,799. 1.50% of the stock is currently owned by company insiders.
PFG stock opened at $55.35 on Friday. The stock’s fifty day simple moving average is $55.04 and its two-hundred day simple moving average is $55.45. Principal Financial Group Inc has a 1-year low of $40.42 and a 1-year high of $60.81.
Principal Financial Group (NYSE:PFG) last issued its earnings results on Thursday, July 25th. The financial services provider reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.12. The company had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter in the prior year, the company earned $1.35 earnings per share.
The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Thursday, September 5th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend was Wednesday, September 4th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.54.
PFG has been the subject of several recent research reports. Morgan Stanley decreased their price target on Principal Financial Group from $59.00 to $57.00 and set an “equal weight” rating for the company in a report on Tuesday, August 20th. Barclays set a $66.00 price target on Principal Financial Group and gave the stock a “buy” rating in a report on Monday, August 12th. UBS Group decreased their price target on Principal Financial Group from $49.00 to $48.00 and set a “sell” rating for the company in a report on Thursday. Finally, Zacks Investment Research upgraded Principal Financial Group from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $57.00.
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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