Allstate Corp grew its holdings in Principal Financial Group, Inc. (NASDAQ:PFG – Free Report) by 94.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 14,014 shares of the company’s stock after buying an additional 6,823 shares during the period. Allstate Corp’s holdings in Principal Financial Group were worth $1,236,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Principal Financial Group in the 4th quarter valued at about $26,000. Quest 10 Wealth Builders Inc. raised its position in Principal Financial Group by 343.6% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 346 shares of the company’s stock valued at $30,000 after purchasing an additional 268 shares in the last quarter. FWL Investment Management LLC acquired a new stake in Principal Financial Group in the 3rd quarter valued at about $32,000. ST Germain D J Co. Inc. raised its position in Principal Financial Group by 66.5% in the 4th quarter. ST Germain D J Co. Inc. now owns 398 shares of the company’s stock valued at $35,000 after purchasing an additional 159 shares in the last quarter. Finally, Rialto Wealth Management LLC increased its holdings in shares of Principal Financial Group by 3,754.5% in the 4th quarter. Rialto Wealth Management LLC now owns 424 shares of the company’s stock valued at $37,000 after acquiring an additional 413 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.
Principal Financial Group Stock Up 0.3%
NASDAQ:PFG opened at $103.62 on Friday. The firm has a market capitalization of $22.38 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 0.97 and a beta of 0.89. The stock has a 50 day moving average of $96.35 and a 200-day moving average of $92.08. Principal Financial Group, Inc. has a 52 week low of $75.00 and a 52 week high of $105.00. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.33.
Principal Financial Group Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Monday, June 1st will be issued a $0.82 dividend. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a yield of 3.2%. Principal Financial Group’s dividend payout ratio is currently 45.78%.
Wall Street Analyst Weigh In
PFG has been the subject of a number of recent research reports. UBS Group increased their price objective on Principal Financial Group from $92.00 to $94.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Weiss Ratings downgraded Principal Financial Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 1st. Keefe, Bruyette & Woods reissued a “hold” rating and set a $92.00 price target on shares of Principal Financial Group in a research report on Thursday, March 26th. Barclays raised their price target on Principal Financial Group from $85.00 to $87.00 and gave the stock an “underweight” rating in a research report on Friday, April 24th. Finally, Wells Fargo & Company dropped their price target on Principal Financial Group from $91.00 to $87.00 and set an “equal weight” rating for the company in a research report on Friday, April 10th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $98.10.
Check Out Our Latest Stock Report on PFG
Insiders Place Their Bets
In other Principal Financial Group news, insider Wee Yee Cheong sold 9,183 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $101.26, for a total transaction of $929,870.58. Following the completion of the transaction, the insider directly owned 77,188 shares of the company’s stock, valued at approximately $7,816,056.88. This trade represents a 10.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel George Djurasovic sold 2,571 shares of the stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $100.83, for a total value of $259,233.93. Following the transaction, the general counsel directly owned 21,906 shares of the company’s stock, valued at approximately $2,208,781.98. The trade was a 10.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 28,317 shares of company stock valued at $2,884,902. 1.13% of the stock is currently owned by corporate insiders.
Principal Financial Group Company Profile
Principal Financial Group (NASDAQ: PFG) is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm’s business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.
Principal’s product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.
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Want to see what other hedge funds are holding PFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Principal Financial Group, Inc. (NASDAQ:PFG – Free Report).
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