Assetmark Inc. boosted its stake in Principal Financial Group Inc (NYSE:PFG) by 283,094.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 161,421 shares of the financial services provider’s stock after acquiring an additional 161,364 shares during the period. Assetmark Inc. owned 0.06% of Principal Financial Group worth $10,386,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the stock. Louisiana State Employees Retirement System boosted its holdings in Principal Financial Group by 1.2% in the 2nd quarter. Louisiana State Employees Retirement System now owns 16,600 shares of the financial services provider’s stock valued at $1,064,000 after purchasing an additional 200 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its stake in shares of Principal Financial Group by 52.5% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 5,495 shares of the financial services provider’s stock worth $352,000 after acquiring an additional 1,892 shares in the last quarter. OLD Second National Bank of Aurora raised its position in shares of Principal Financial Group by 4.5% during the 2nd quarter. OLD Second National Bank of Aurora now owns 30,515 shares of the financial services provider’s stock worth $1,955,000 after purchasing an additional 1,305 shares during the last quarter. Paragon Capital Management Ltd acquired a new position in Principal Financial Group in the 2nd quarter valued at $272,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Principal Financial Group in the 2nd quarter valued at $864,000. Hedge funds and other institutional investors own 68.81% of the company’s stock.
Principal Financial Group Inc (NYSE:PFG) traded up $0.17 on Thursday, reaching $70.99. 984,204 shares of the company’s stock were exchanged, compared to its average volume of 1,111,721. Principal Financial Group Inc has a 1 year low of $56.12 and a 1 year high of $72.23. The stock has a market cap of $20,409.18, a P/E ratio of 13.78, a price-to-earnings-growth ratio of 1.35 and a beta of 1.71. 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 (NYSE:PFG) last released its quarterly earnings data on Thursday, October 26th. The financial services provider reported $1.28 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.02). Principal Financial Group had a net margin of 12.35% and a return on equity of 13.55%. The company had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.12 billion. During the same period last year, the company posted $1.15 EPS. sell-side analysts forecast that Principal Financial Group Inc will post 5.22 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Monday, December 4th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Friday, December 1st. This represents a $1.96 annualized dividend and a dividend yield of 2.76%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.47. Principal Financial Group’s dividend payout ratio (DPR) is 32.13%.
Several research firms have recently issued reports on PFG. Zacks Investment Research upgraded shares of Principal Financial Group from a “sell” rating to a “hold” rating and set a $73.00 price objective for the company in a report on Monday, October 2nd. Wells Fargo & Company set a $76.00 price target on shares of Principal Financial Group and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Goldman Sachs Group began coverage on shares of Principal Financial Group in a research report on Wednesday, October 18th. They set a “neutral” rating and a $70.00 target price on the stock. Morgan Stanley lifted their target price on shares of Principal Financial Group from $67.00 to $72.00 and gave the company an “equal weight” rating in a research report on Thursday, October 5th. Finally, Barclays boosted their price target on shares of Principal Financial Group from $61.00 to $63.00 and gave the company an “equal weight” rating in a research report on Friday, August 11th. Two research 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’s stock. Principal Financial Group has an average rating of “Hold” and an average target price of $67.40.
In related news, Chairman Daniel Joseph Houston sold 38,097 shares of the company’s stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $68.00, for a total transaction of $2,590,596.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider James P. Mccaughan sold 6,193 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $62.33, for a total value of $386,009.69. The disclosure for this sale can be found here. Insiders sold 197,606 shares of company stock worth $13,630,935 in the last ninety days. Corporate insiders own 1.50% of the company’s stock.
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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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