Barings LLC Has $2,049,000 Stake in Principal Financial Group Inc (PFG)
Barings LLC continued to hold its stake in shares of Principal Financial Group Inc (NYSE:PFG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,464 shares of the financial services provider’s stock at the end of the second quarter. Barings LLC’s holdings in Principal Financial Group were worth $2,049,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Sun Life Financial INC boosted its holdings in Principal Financial Group by 21,822.2% in the 2nd quarter. Sun Life Financial INC now owns 1,973 shares of the financial services provider’s stock valued at $126,000 after purchasing an additional 1,964 shares during the period. Jacobi Capital Management LLC boosted its holdings in Principal Financial Group by 291.1% in the 1st quarter. Jacobi Capital Management LLC now owns 2,691 shares of the financial services provider’s stock valued at $167,000 after purchasing an additional 2,003 shares during the period. Oppenheimer & Co. Inc. bought a new position in Principal Financial Group in the 1st quarter valued at $202,000. Eagle Global Advisors LLC bought a new position in Principal Financial Group in the 2nd quarter valued at $207,000. Finally, Blair William & Co. IL bought a new position in Principal Financial Group in the 1st quarter valued at $205,000. 68.26% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Karen E. Shaff sold 30,500 shares of the company’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $65.00, for a total transaction of $1,982,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider James P. Mccaughan sold 60,814 shares of the company’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $62.10, for a total transaction of $3,776,549.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 180,772 shares of company stock valued at $11,678,907. 1.50% of the stock is owned by company insiders.
Shares of Principal Financial Group Inc (PFG) opened at 66.65 on Friday. The stock’s 50 day moving average is $63.16 and its 200-day moving average is $63.85. The company has a market capitalization of $19.26 billion, a P/E ratio of 15.15 and a beta of 1.67. Principal Financial Group Inc has a 12-month low of $51.25 and a 12-month high of $67.73.
Principal Financial Group (NYSE:PFG) last issued its earnings results on Thursday, July 27th. The financial services provider reported $1.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.09. Principal Financial Group had a net margin of 10.15% and a return on equity of 13.57%. The firm had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the business earned $1.15 earnings per share. Analysts anticipate that Principal Financial Group Inc will post $5.19 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 1st were given a dividend of $0.47 per share. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.82%. Principal Financial Group’s dividend payout ratio is currently 42.73%.
Several research analysts have commented on the stock. Zacks Investment Research raised shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Tuesday, August 1st. Morgan Stanley raised their price target on shares of Principal Financial Group from $67.00 to $72.00 and gave the company an “equal weight” rating in a report on Thursday. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $68.00 price target on shares of Principal Financial Group in a report on Thursday, August 3rd. Barclays PLC raised their price target on shares of Principal Financial Group from $61.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, August 11th. Finally, BidaskClub downgraded shares of Principal Financial Group from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $66.00.
Principal Financial Group Profile
Principal Financial Group, Inc is an investment management company. The Company offers a range of financial products and services, including retirement, asset management and insurance. Its segments include Retirement and Income Solutions; Principal Global Investors, Principal International; U.S. Insurance Solutions, and Corporate.
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