Pacer Advisors Inc. Sells 10,234 Shares of Principal Financial Group, Inc. $PFG

Pacer Advisors Inc. lessened its position in shares of Principal Financial Group, Inc. (NASDAQ:PFG) by 50.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,885 shares of the company’s stock after selling 10,234 shares during the quarter. Pacer Advisors Inc.’s holdings in Principal Financial Group were worth $891,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. DV Equities LLC purchased a new position in Principal Financial Group in the fourth quarter worth about $25,000. Hilton Head Capital Partners LLC purchased a new stake in shares of Principal Financial Group during the 4th quarter valued at about $26,000. Valley Wealth Managers Inc. purchased a new stake in shares of Principal Financial Group during the 1st quarter valued at about $27,000. MBM Wealth Consultants LLC bought a new position in shares of Principal Financial Group in the 1st quarter worth approximately $28,000. Finally, Quest 10 Wealth Builders Inc. lifted its stake in shares of Principal Financial Group by 343.6% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 346 shares of the company’s stock worth $30,000 after purchasing an additional 268 shares during the period. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

Shares of PFG stock opened at $113.40 on Monday. Principal Financial Group, Inc. has a 52-week low of $75.51 and a 52-week high of $116.61. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a market capitalization of $24.28 billion, a PE ratio of 16.11, a PEG ratio of 1.03 and a beta of 0.87. The stock has a fifty day simple moving average of $110.26 and a two-hundred day simple moving average of $100.10.

Principal Financial Group (NASDAQ:PFG) last announced its quarterly earnings data on Monday, July 27th. The company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.33 by $0.17. The business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.11 billion. Principal Financial Group had a return on equity of 16.49% and a net margin of 9.93%.During the same period in the previous year, the business earned $2.16 earnings per share. On average, analysts predict that Principal Financial Group, Inc. will post 9.56 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 3rd will be issued a $0.84 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $3.36 dividend on an annualized basis and a yield of 3.0%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.82. Principal Financial Group’s payout ratio is presently 46.59%.

Insiders Place Their Bets

In other Principal Financial Group news, insider Wee Yee Cheong sold 7,534 shares of the 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 $6,854,259.88. This trade represents a 10.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.13% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PFG shares. Morgan Stanley boosted their target price on shares of Principal Financial Group from $107.00 to $112.00 and gave the company an “equal weight” rating in a research report on Monday, July 6th. JPMorgan Chase & Co. upped their price objective on Principal Financial Group from $106.00 to $107.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Raymond James Financial cut 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. Bank of America boosted their price target on Principal Financial Group from $94.00 to $104.00 and gave the company an “underperform” rating in a report on Tuesday, July 28th. Finally, Jefferies Financial Group upped their price target on Principal Financial Group from $91.00 to $98.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $105.83.

Principal Financial Group 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.