Jackson Creek Investment Advisors LLC purchased a new stake in shares of Principal Financial Group, Inc. (NASDAQ:PFG – Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,028 shares of the company’s stock, valued at approximately $532,000.
Several other institutional investors and hedge funds also recently made changes to their positions in PFG. Integrated Wealth Concepts LLC bought a new stake in shares of Principal Financial Group during the first quarter valued at approximately $244,000. NewEdge Advisors LLC boosted its holdings in Principal Financial Group by 24.1% in the first quarter. NewEdge Advisors LLC now owns 7,503 shares of the company’s stock worth $633,000 after purchasing an additional 1,455 shares during the last quarter. Empowered Funds LLC boosted its holdings in Principal Financial Group by 11.9% in the first quarter. Empowered Funds LLC now owns 4,678 shares of the company’s stock worth $395,000 after purchasing an additional 497 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Principal Financial Group by 96.2% in the second quarter. EverSource Wealth Advisors LLC now owns 2,278 shares of the company’s stock worth $181,000 after purchasing an additional 1,117 shares during the last quarter. Finally, Cerity Partners LLC boosted its holdings in Principal Financial Group by 9.1% in the second quarter. Cerity Partners LLC now owns 37,957 shares of the company’s stock worth $3,015,000 after purchasing an additional 3,175 shares during the last quarter. Institutional investors own 75.08% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on PFG shares. Barclays raised their target price on shares of Principal Financial Group from $85.00 to $87.00 and gave the stock an “underweight” rating in a report on Friday, April 24th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $92.00 target price on shares of Principal Financial Group in a report on Thursday, March 26th. Raymond James Financial cut shares of Principal Financial Group from a “strong-buy” rating to an “outperform” rating and raised their target price for the stock from $99.00 to $111.00 in a report on Tuesday, May 19th. Evercore set a $108.00 target price on shares of Principal Financial Group in a report on Monday, April 27th. Finally, Bank of America dropped their target price on shares of Principal Financial Group from $96.00 to $92.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $98.10.
Insider Buying and Selling at Principal Financial Group
In other news, insider Wee Yee Cheong sold 9,183 shares of Principal Financial Group stock in a transaction on Friday, May 1st. The shares were sold at an average price of $101.26, for a total transaction of $929,870.58. Following the transaction, the insider owned 77,188 shares in the company, valued at $7,816,056.88. This trade represents a 10.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel George Djurasovic sold 2,571 shares of Principal Financial Group stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $100.83, for a total transaction of $259,233.93. Following the transaction, the general counsel owned 21,906 shares in the company, valued at $2,208,781.98. This represents a 10.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 28,317 shares of company stock worth $2,884,902 in the last quarter. Corporate insiders own 1.13% of the company’s stock.
Principal Financial Group Trading Down 0.1%
Shares of Principal Financial Group stock opened at $104.57 on Thursday. The company’s fifty day simple moving average is $95.70 and its 200-day simple moving average is $91.85. The stock has a market capitalization of $22.59 billion, a PE ratio of 14.96, a P/E/G ratio of 0.99 and a beta of 0.89. Principal Financial Group, Inc. has a 1-year low of $75.00 and a 1-year high of $105.00. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.27 and a quick ratio of 0.27.
Principal Financial Group (NASDAQ:PFG – Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.06. The business had revenue of $3.53 billion for the quarter, compared to analysts’ expectations 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 quarter last year, the company posted $1.81 EPS. As a group, equities analysts anticipate that Principal Financial Group, Inc. will post 9.36 earnings per share for the current year.
Principal Financial Group Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders 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 annualized dividend and a dividend yield of 3.1%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.80. Principal Financial Group’s dividend payout ratio is 45.78%.
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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