Principal Financial Group Inc (NYSE:PFG) Shares Sold by Renaissance Group LLC

Renaissance Group LLC lowered its holdings in shares of Principal Financial Group Inc (NYSE:PFG) by 5.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,175 shares of the financial services provider’s stock after selling 2,263 shares during the quarter. Renaissance Group LLC’s holdings in Principal Financial Group were worth $2,714,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Pacer Advisors Inc. grew its position in shares of Principal Financial Group by 0.7% during the second quarter. Pacer Advisors Inc. now owns 5,569 shares of the financial services provider’s stock worth $357,000 after purchasing an additional 38 shares in the last quarter. Cookson Peirce & Co. Inc. grew its position in shares of Principal Financial Group by 0.8% during the second quarter. Cookson Peirce & Co. Inc. now owns 6,660 shares of the financial services provider’s stock worth $427,000 after purchasing an additional 50 shares in the last quarter. Pitcairn Co. grew its holdings in Principal Financial Group by 1.5% during the 2nd quarter. Pitcairn Co. now owns 4,312 shares of the financial services provider’s stock valued at $276,000 after buying an additional 63 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Principal Financial Group by 0.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,914 shares of the financial services provider’s stock valued at $1,276,000 after buying an additional 82 shares in the last quarter. Finally, CIBC Asset Management Inc grew its holdings in Principal Financial Group by 0.4% during the 2nd quarter. CIBC Asset Management Inc now owns 25,495 shares of the financial services provider’s stock valued at $1,633,000 after buying an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 68.81% of the company’s stock.

In related news, Chairman Daniel Joseph Houston sold 38,097 shares of the firm’s stock in a transaction that occurred on 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 Securities & Exchange Commission, which is available through this link. Also, EVP Karen E. Shaff sold 50,561 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $69.51, for a total value of $3,514,495.11. The disclosure for this sale can be found here. Insiders sold a total of 197,606 shares of company stock valued at $13,630,935 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.

Shares of Principal Financial Group Inc (NYSE:PFG) opened at $70.99 on Friday. The stock has a market capitalization of $20,409.18, a P/E ratio of 13.78, a PEG ratio of 1.35 and a beta of 1.71. Principal Financial Group Inc has a one year low of $56.12 and a one year high of $72.23. 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 posted its quarterly earnings data on Thursday, October 26th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.02). The company had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.12 billion. Principal Financial Group had a net margin of 12.35% and a return on equity of 13.55%. During the same period in the previous year, the business earned $1.15 earnings per share. sell-side analysts predict that Principal Financial Group Inc will post 5.22 earnings per share 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. This represents a $1.96 annualized dividend and a dividend yield of 2.76%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Friday, December 1st. Principal Financial Group’s dividend payout ratio (DPR) is presently 32.13%.

PFG has been the subject of several research analyst reports. Barclays raised their price target 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. BidaskClub cut Principal Financial Group from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Royal Bank Of Canada restated a “buy” rating and set a $74.00 price target on shares of Principal Financial Group in a report on Wednesday, September 6th. Zacks Investment Research upgraded Principal Financial Group from a “sell” rating to a “hold” rating and set a $73.00 price target for the company in a report on Monday, October 2nd. Finally, Morgan Stanley raised their price target on Principal Financial Group from $67.00 to $72.00 and gave the company an “equal weight” rating in a report on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, seven 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 $67.40.

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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.

Institutional Ownership by Quarter for Principal Financial Group (NYSE:PFG)

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