Interval Partners LP increased its holdings in shares of Principal Financial Group, Inc. (NASDAQ:PFG – Free Report) by 99.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 280,590 shares of the company’s stock after acquiring an additional 140,168 shares during the period. Interval Partners LP owned approximately 0.13% of Principal Financial Group worth $24,751,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Bank of America Corp DE raised its holdings in Principal Financial Group by 9.6% in the second quarter. Bank of America Corp DE now owns 12,370,852 shares of the company’s stock worth $982,617,000 after buying an additional 1,083,991 shares during the last quarter. Invesco Ltd. raised its holdings in Principal Financial Group by 23.2% in the third quarter. Invesco Ltd. now owns 3,376,797 shares of the company’s stock worth $279,970,000 after buying an additional 636,334 shares during the last quarter. Norges Bank purchased a new position in Principal Financial Group in the fourth quarter worth about $273,276,000. Morgan Stanley raised its holdings in Principal Financial Group by 1.8% in the fourth quarter. Morgan Stanley now owns 3,079,857 shares of the company’s stock worth $271,674,000 after buying an additional 55,669 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Principal Financial Group by 5.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,498,766 shares of the company’s stock worth $220,416,000 after buying an additional 135,631 shares during the last quarter. Institutional investors own 75.08% of the company’s stock.
Insiders Place Their Bets
In other Principal Financial Group news, insider Wee Yee Cheong sold 7,534 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $103.16, for a total transaction of $777,207.44. Following the completion of the sale, the insider directly owned 66,443 shares of the company’s stock, valued at approximately $6,854,259.88. This represents a 10.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel George Djurasovic sold 2,571 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $100.83, for a total transaction of $259,233.93. Following the sale, the general counsel directly owned 21,906 shares of the company’s stock, valued at approximately $2,208,781.98. This represents a 10.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 28,317 shares of company stock valued at $2,884,902. Company insiders own 1.13% of the company’s stock.
Wall Street Analyst Weigh In
View Our Latest Stock Analysis on Principal Financial Group
Principal Financial Group Price Performance
Shares of PFG opened at $110.22 on Thursday. The firm has a market cap of $23.81 billion, a PE ratio of 15.77, a P/E/G ratio of 1.05 and a beta of 0.88. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.33. The firm has a fifty day simple moving average of $101.15 and a two-hundred day simple moving average of $94.25. Principal Financial Group, Inc. has a 1-year low of $75.00 and a 1-year high of $112.07.
Principal Financial Group (NASDAQ:PFG – Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.06. The business had revenue of $3.53 billion during the quarter, compared to analyst estimates of $4.11 billion. Principal Financial Group had a net margin of 10.10% and a return on equity of 16.25%. During the same period in the previous year, the business earned $1.81 EPS. On average, equities analysts anticipate that Principal Financial Group, Inc. will post 9.36 EPS for the current year.
Principal Financial Group Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.82 per share. The ex-dividend date is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a yield of 3.0%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.80. Principal Financial Group’s dividend payout ratio (DPR) is presently 46.92%.
About Principal Financial Group
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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