Principal Financial Group Inc (PFG) Position Increased by Wells Fargo & Company MN
Wells Fargo & Company MN boosted its holdings in shares of Principal Financial Group Inc (NYSE:PFG) by 5.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 518,242 shares of the financial services provider’s stock after purchasing an additional 28,178 shares during the quarter. Wells Fargo & Company MN’s holdings in Principal Financial Group were worth $36,568,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of PFG. Resources Investment Advisors Inc. raised its stake in Principal Financial Group by 268.6% during the 4th quarter. Resources Investment Advisors Inc. now owns 2,997 shares of the financial services provider’s stock valued at $155,000 after purchasing an additional 2,184 shares during the period. Acadian Asset Management LLC raised its stake in Principal Financial Group by 215.0% during the 4th quarter. Acadian Asset Management LLC now owns 2,611 shares of the financial services provider’s stock valued at $184,000 after purchasing an additional 1,782 shares during the period. First Heartland Consultants Inc. bought a new stake in Principal Financial Group during the 3rd quarter valued at approximately $224,000. SeaCrest Wealth Management LLC bought a new stake in Principal Financial Group during the 4th quarter valued at approximately $245,000. Finally, Private Advisor Group LLC bought a new stake in Principal Financial Group during the 3rd quarter valued at approximately $255,000. 68.64% of the stock is currently owned by institutional investors.
Several analysts recently issued reports on the company. UBS Group assumed coverage on Principal Financial Group in a research note on Friday. They set a “neutral” rating and a $69.00 target price on the stock. Barclays upgraded Principal Financial Group from an “equal weight” rating to an “overweight” rating and set a $72.00 price target for the company in a report on Monday, February 12th. JPMorgan Chase & Co. upgraded Principal Financial Group from an “underweight” rating to a “neutral” rating and set a $70.00 price target for the company in a report on Monday, February 12th. Keefe, Bruyette & Woods restated a “hold” rating and set a $76.00 price target on shares of Principal Financial Group in a report on Wednesday, January 31st. Finally, Morgan Stanley cut their price target on Principal Financial Group from $80.00 to $79.00 and set an “equal weight” rating for the company in a report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $73.10.
Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Monday, January 29th. The financial services provider reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.18). The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Principal Financial Group had a net margin of 12.35% and a return on equity of 13.55%. During the same quarter in the prior year, the business earned $1.27 EPS. equities research analysts expect that Principal Financial Group Inc will post 5.22 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Monday, March 5th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 3.34%. The ex-dividend date is Friday, March 2nd. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.49. Principal Financial Group’s dividend payout ratio (DPR) is currently 25.16%.
In other news, Chairman Daniel Joseph Houston sold 19,856 shares of Principal Financial Group stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $72.02, for a total value of $1,430,029.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Luis E. Valdes sold 27,662 shares of Principal Financial Group stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $64.02, for a total value of $1,770,921.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 205,784 shares of company stock valued at $14,464,389. Company insiders own 1.50% of the company’s stock.
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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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