Piedmont Investment Advisors LLC Boosts Stake in Principal Financial Group Inc (PFG)
Piedmont Investment Advisors LLC grew its holdings in shares of Principal Financial Group Inc (NYSE:PFG) by 1.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 117,120 shares of the financial services provider’s stock after purchasing an additional 1,990 shares during the period. Piedmont Investment Advisors LLC’s holdings in Principal Financial Group were worth $7,536,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Sun Life Financial INC boosted its position in shares of Principal Financial Group by 21,822.2% during 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 in the last quarter. Honkamp Krueger Financial Services Inc. bought a new position in shares of Principal Financial Group during the 3rd quarter valued at about $226,000. Private Advisor Group LLC bought a new position in shares of Principal Financial Group during the 3rd quarter valued at about $255,000. Highbridge Capital Management LLC bought a new position in shares of Principal Financial Group during the 3rd quarter valued at about $268,000. Finally, ETRADE Capital Management LLC bought a new position in shares of Principal Financial Group during the 2nd quarter valued at about $269,000. Institutional investors own 68.76% of the company’s stock.
Principal Financial Group Inc (PFG) traded down $0.53 during mid-day trading on Thursday, reaching $70.25. 1,024,600 shares of the company’s stock were exchanged, compared to its average volume of 1,110,119. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.26. Principal Financial Group Inc has a 52 week low of $56.12 and a 52 week high of $72.23. The stock has a market capitalization of $20,438.06, a price-to-earnings ratio of 13.80, a PEG ratio of 1.36 and a beta of 1.71.
Principal Financial Group (NYSE:PFG) last posted its quarterly earnings results on Thursday, October 26th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.02). The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.12 billion. Principal Financial Group had a return on equity of 13.55% and a net margin of 12.35%. During the same period last year, the company earned $1.15 earnings per share. analysts forecast that Principal Financial Group Inc will post 5.22 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Monday, December 4th will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.79%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.47. The ex-dividend date is Friday, December 1st. Principal Financial Group’s dividend payout ratio is 32.13%.
Several equities analysts have recently weighed in on PFG shares. Wells Fargo & Company set a $79.00 price objective on shares of Principal Financial Group and gave the company a “buy” rating in a research report on Thursday, December 7th. Royal Bank of Canada reaffirmed a “buy” rating and set a $74.00 price objective on shares of Principal Financial Group in a research note on Wednesday, September 6th. Morgan Stanley upped their price objective on shares of Principal Financial Group from $67.00 to $72.00 and gave the company an “equal weight” rating in a research note on Thursday, October 5th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $73.00 price objective on shares of Principal Financial Group in a research note on Monday. Finally, Zacks Investment Research lowered shares of Principal Financial Group from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $68.20.
In other news, insider Nora Mary Everett sold 12,398 shares of the stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $68.00, for a total value of $843,064.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Karen E. Shaff sold 17,082 shares of the stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $68.00, for a total transaction of $1,161,576.00. The disclosure for this sale can be found here. Insiders sold 191,413 shares of company stock valued at $13,244,925 over the last three months. 1.50% of the stock is owned by insiders.
About Principal Financial Group
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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