Plato Investment Management Ltd Makes New $1.04 Million Investment in Principal Financial Group, Inc. $PFG

Plato Investment Management Ltd purchased a new stake in shares of Principal Financial Group, Inc. (NASDAQ:PFG) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 9,747 shares of the company’s stock, valued at approximately $1,044,000.

A number of other institutional investors have also made changes to their positions in the business. DV Equities LLC bought a new stake in Principal Financial Group during the 4th quarter valued at approximately $25,000. Hilton Head Capital Partners LLC bought a new stake in shares of Principal Financial Group during the fourth quarter valued at approximately $26,000. Valley Wealth Managers Inc. acquired a new position in shares of Principal Financial Group in the 1st quarter valued at $27,000. MBM Wealth Consultants LLC acquired a new position in Principal Financial Group in the first quarter worth about $28,000. Finally, Quest 10 Wealth Builders Inc. lifted its position in shares of Principal Financial Group by 343.6% during 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 during the period. 75.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Wee Yee Cheong sold 7,534 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $103.16, for a total value of $777,207.44. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.13% of the company’s stock.

Principal Financial Group Price Performance

Shares of NASDAQ PFG opened at $113.14 on Wednesday. The business has a fifty day moving average price of $111.61 and a two-hundred day moving average price of $101.18. The stock has a market capitalization of $24.22 billion, a PE ratio of 16.07, a P/E/G ratio of 1.04 and a beta of 0.87. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.28 and a quick ratio of 0.28. Principal Financial Group, Inc. has a fifty-two week low of $77.34 and a fifty-two week high of $116.61.

Principal Financial Group (NASDAQ:PFG) last issued its quarterly earnings results on Monday, July 27th. The company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.17. The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm posted $2.16 EPS. As a group, equities analysts predict that Principal Financial Group, Inc. will post 9.57 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PFG shares. Bank of America lifted their price target on shares of Principal Financial Group from $94.00 to $104.00 and gave the company an “underperform” rating in a report on Tuesday, July 28th. Jefferies Financial Group boosted their price target on shares of Principal Financial Group from $91.00 to $98.00 and gave the stock a “hold” rating in a research note on Friday, July 10th. Barclays upped their price target on Principal Financial Group from $87.00 to $92.00 and gave the company an “underweight” rating in a research note on Tuesday, July 7th. Wells Fargo & Company lowered their price target on Principal Financial Group from $114.00 to $113.00 and set an “equal weight” rating for the company in a report on Wednesday, July 22nd. Finally, Morgan Stanley lifted their target price 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. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Principal Financial Group has a consensus rating of “Hold” and an average price target of $106.67.

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.