PensionDanmark Pensionsforsikringsaktieselskab Buys 9,685 Shares of Principal Financial Group, Inc. $PFG

PensionDanmark Pensionsforsikringsaktieselskab boosted its stake in shares of Principal Financial Group, Inc. (NASDAQ:PFG) by 150.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,135 shares of the company’s stock after purchasing an additional 9,685 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Principal Financial Group were worth $1,739,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in PFG. DV Equities LLC purchased a new stake in shares of Principal Financial Group in the fourth quarter worth $25,000. Hilton Head Capital Partners LLC purchased a new position in shares of Principal Financial Group during the 4th quarter valued at $26,000. Valley Wealth Managers Inc. bought a new position in Principal Financial Group in the 1st quarter worth $27,000. MBM Wealth Consultants LLC bought a new position in Principal Financial Group in the 1st quarter worth $28,000. Finally, Quest 10 Wealth Builders Inc. increased its stake in 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 buying an additional 268 shares in the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Trading Up 0.4%

PFG stock opened at $113.81 on Tuesday. Principal Financial Group, Inc. has a twelve month low of $76.15 and a twelve month high of $116.61. The stock has a market capitalization of $24.37 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 1.03 and a beta of 0.87. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.36. The firm’s fifty day simple moving average is $110.48 and its two-hundred day simple moving average is $100.28.

Principal Financial Group (NASDAQ:PFG) last released its quarterly earnings results on Monday, July 27th. The company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.33 by $0.17. The firm had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.11 billion. Principal Financial Group had a net margin of 9.93% and a return on equity of 16.49%. During the same period in the previous year, the company earned $2.16 EPS. As a group, analysts anticipate that Principal Financial Group, Inc. will post 9.56 earnings per share for the current year.

Principal Financial Group Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PFG. Morgan Stanley boosted their price objective on 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. Evercore set a $108.00 target price on Principal Financial Group in a research note on Monday, April 27th. Wells Fargo & Company lowered their price target on Principal Financial Group from $114.00 to $113.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 22nd. 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 note on Friday, July 10th. Finally, Barclays lifted their price objective on shares of Principal Financial Group from $87.00 to $92.00 and gave the company an “underweight” rating in a research report on Tuesday, July 7th. Three equities 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $105.83.

Insider Buying and Selling

In related news, insider Wee Yee Cheong sold 7,534 shares of Principal Financial Group stock in a transaction dated 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 owned 66,443 shares in the company, 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 corporate insiders.

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.