Principal Financial Group Inc (NYSE:PFG) Shares Purchased by Wedge Capital Management L L P NC
Wedge Capital Management L L P NC boosted its stake in Principal Financial Group Inc (NYSE:PFG) by 5.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 547,807 shares of the financial services provider’s stock after acquiring an additional 29,656 shares during the period. Wedge Capital Management L L P NC owned about 0.20% of Principal Financial Group worth $30,129,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Principal Financial Group by 1.0% in the second quarter. Vanguard Group Inc. now owns 30,454,224 shares of the financial services provider’s stock valued at $1,763,908,000 after acquiring an additional 305,393 shares during the period. Invesco Ltd. raised its position in Principal Financial Group by 25.5% in the 2nd quarter. Invesco Ltd. now owns 3,938,036 shares of the financial services provider’s stock valued at $228,092,000 after purchasing an additional 800,950 shares during the last quarter. Nuveen Asset Management LLC raised its position in Principal Financial Group by 19,214.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,342,167 shares of the financial services provider’s stock valued at $77,739,000 after purchasing an additional 1,335,218 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Principal Financial Group by 7.9% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,156,175 shares of the financial services provider’s stock valued at $66,064,000 after purchasing an additional 84,206 shares during the period. Finally, Parametric Portfolio Associates LLC increased its stake in Principal Financial Group by 2.8% in the third quarter. Parametric Portfolio Associates LLC now owns 1,105,917 shares of the financial services provider’s stock valued at $63,192,000 after purchasing an additional 30,110 shares during the period. 68.64% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on PFG shares. Morgan Stanley set a $56.00 target price on shares of Principal Financial Group and gave the stock a “hold” rating in a research note on Friday, October 25th. UBS Group lowered their price target on Principal Financial Group from $49.00 to $48.00 and set a “sell” rating on the stock in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $57.40.
NYSE:PFG opened at $55.21 on Thursday. Principal Financial Group Inc has a 12-month low of $46.56 and a 12-month high of $60.81. The stock’s 50 day simple moving average is $54.71 and its 200-day simple moving average is $55.57.
Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.46 by ($0.23). During the same period in the previous year, the business earned $1.67 earnings per share.
The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Tuesday, December 3rd were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 3.98%. The ex-dividend date was Monday, December 2nd.
About Principal Financial Group
Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.
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