Mairs & Power Inc. Has $21.09 Million Stock Position in Principal Financial Group, Inc. $PFG

Mairs & Power Inc. cut its holdings in shares of Principal Financial Group, Inc. (NASDAQ:PFG) by 29.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 254,418 shares of the company’s stock after selling 108,380 shares during the period. Mairs & Power Inc.’s holdings in Principal Financial Group were worth $21,094,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of PFG. Traub Capital Management LLC bought a new stake in shares of Principal Financial Group during the 2nd quarter worth $26,000. Capital A Wealth Management LLC raised its stake in Principal Financial Group by 5,533.3% during the second quarter. Capital A Wealth Management LLC now owns 338 shares of the company’s stock worth $27,000 after acquiring an additional 332 shares in the last quarter. CYBER HORNET ETFs LLC acquired a new position in Principal Financial Group during the second quarter worth about $45,000. Financial Consulate Inc. bought a new position in shares of Principal Financial Group in the third quarter worth about $46,000. Finally, MUFG Securities EMEA plc acquired a new stake in shares of Principal Financial Group in the 2nd quarter valued at approximately $49,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Insider Transactions at Principal Financial Group

In related news, CEO Deanna D. Strable-Soethout sold 9,300 shares of the stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $95.12, for a total transaction of $884,616.00. Following the transaction, the chief executive officer directly owned 144,168 shares of the company’s stock, valued at $13,713,260.16. This represents a 6.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 24,965 shares of company stock worth $2,352,460 over the last 90 days. 1.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Bank of America upped their price objective on shares of Principal Financial Group from $95.00 to $96.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. Morgan Stanley boosted their target price on shares of Principal Financial Group from $93.00 to $95.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 3rd. UBS Group upped their price target on shares of Principal Financial Group from $88.00 to $92.00 and gave the company a “neutral” rating in a research report on Thursday, January 8th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $103.00 price target on shares of Principal Financial Group in a research note on Monday, January 5th. Finally, Wells Fargo & Company raised shares of Principal Financial Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $85.00 to $91.00 in a research note on Wednesday, February 25th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $94.11.

Principal Financial Group Stock Performance

Shares of PFG stock opened at $86.45 on Tuesday. The business’s 50 day simple moving average is $92.25 and its 200 day simple moving average is $86.81. Principal Financial Group, Inc. has a one year low of $68.39 and a one year high of $97.88. The stock has a market capitalization of $18.75 billion, a PE ratio of 16.40, a PEG ratio of 0.80 and a beta of 0.87. 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) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $2.20 earnings per share (EPS) for the quarter. The firm had revenue of $4.58 billion for the quarter. Principal Financial Group had a return on equity of 16.09% and a net margin of 7.58%.

Principal Financial Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Wednesday, March 11th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Wednesday, March 11th. Principal Financial Group’s payout ratio is presently 60.72%.

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.