Shelton Capital Management Has $1.01 Million Stake in Principal Financial Group Inc (PFG)
Shelton Capital Management decreased its holdings in shares of Principal Financial Group Inc (NYSE:PFG) by 42.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,691 shares of the financial services provider’s stock after selling 11,609 shares during the quarter. Shelton Capital Management’s holdings in Principal Financial Group were worth $1,005,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of PFG. Sun Life Financial INC boosted its holdings in shares of Principal Financial Group by 21,822.2% during the second quarter. Sun Life Financial INC now owns 1,973 shares of the financial services provider’s stock worth $126,000 after purchasing an additional 1,964 shares during the last quarter. Jacobi Capital Management LLC boosted its holdings in Principal Financial Group by 291.1% in the first quarter. Jacobi Capital Management LLC now owns 2,691 shares of the financial services provider’s stock valued at $167,000 after acquiring an additional 2,003 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new position in Principal Financial Group in the first quarter valued at $202,000. Blair William & Co. IL acquired a new position in Principal Financial Group in the first quarter valued at $205,000. Finally, Eagle Global Advisors LLC acquired a new position in Principal Financial Group in the second quarter valued at $207,000. Institutional investors and hedge funds own 68.26% of the company’s stock.
A number of research analysts recently weighed in on PFG shares. Royal Bank Of Canada reiterated a “buy” rating and issued a $73.00 target price on shares of Principal Financial Group in a report on Wednesday, July 12th. BidaskClub cut Principal Financial Group from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Zacks Investment Research cut Principal Financial Group from a “buy” rating to a “hold” rating in a report on Friday, July 7th. Wells Fargo & Company reiterated a “buy” rating on shares of Principal Financial Group in a report on Thursday, June 29th. Finally, Barclays PLC lifted their target price on Principal Financial Group from $61.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, August 11th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. Principal Financial Group has a consensus rating of “Hold” and an average price target of $64.56.
In related news, EVP Gary P. Scholten sold 13,495 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $67.00, for a total value of $904,165.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James P. Mccaughan sold 6,193 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $62.33, for a total transaction of $386,009.69. The disclosure for this sale can be found here. Insiders have sold 180,772 shares of company stock valued at $11,678,907 in the last ninety days. 1.50% of the stock is owned by company insiders.
Shares of Principal Financial Group Inc (PFG) opened at 66.65 on Friday. The stock’s 50 day moving average price is $63.16 and its 200-day moving average price is $63.85. Principal Financial Group Inc has a 12 month low of $51.25 and a 12 month high of $67.73. The stock has a market capitalization of $19.26 billion, a price-to-earnings ratio of 15.15 and a beta of 1.67.
Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.31 EPS for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.09. The business had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.16 billion. Principal Financial Group had a net margin of 10.15% and a return on equity of 13.57%. During the same quarter in the prior year, the business earned $1.15 earnings per share. Equities analysts forecast that Principal Financial Group Inc will post $5.19 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 1st were given a dividend of $0.47 per share. The ex-dividend date was Wednesday, August 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.82%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.46. Principal Financial Group’s dividend payout ratio is currently 42.73%.
Principal Financial Group Company 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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