Principal Financial Group Inc (PFG) Holdings Raised by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Principal Financial Group Inc (NYSE:PFG) by 66.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 247,136 shares of the financial services provider’s stock after purchasing an additional 98,421 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.09% of Principal Financial Group worth $15,901,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Principal Financial Group by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 30,237,096 shares of the financial services provider’s stock valued at $1,937,291,000 after purchasing an additional 587,221 shares during the last quarter. BlackRock Inc. increased its position in shares of Principal Financial Group by 3.3% in the 2nd quarter. BlackRock Inc. now owns 18,306,790 shares of the financial services provider’s stock valued at $1,172,916,000 after purchasing an additional 592,172 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Principal Financial Group by 6,656.1% in the 2nd quarter. Janus Henderson Group PLC now owns 3,020,597 shares of the financial services provider’s stock valued at $193,529,000 after purchasing an additional 2,975,888 shares during the last quarter. Schroder Investment Management Group increased its position in shares of Principal Financial Group by 17.0% in the 3rd quarter. Schroder Investment Management Group now owns 1,807,710 shares of the financial services provider’s stock valued at $115,693,000 after purchasing an additional 262,065 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its position in shares of Principal Financial Group by 29.4% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,607,888 shares of the financial services provider’s stock valued at $103,451,000 after purchasing an additional 365,068 shares during the last quarter. 68.81% of the stock is currently owned by institutional investors.

PFG has been the subject of several research analyst reports. Barclays upped their target price on shares of 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 shares of 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 issued a $74.00 target price on shares of Principal Financial Group in a report on Wednesday, September 6th. Zacks Investment Research upgraded shares of Principal Financial Group from a “sell” rating to a “hold” rating and set a $73.00 target price for the company in a report on Monday, October 2nd. Finally, Morgan Stanley upped 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 report on Thursday, October 5th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $67.70.

Shares of Principal Financial Group Inc (NYSE:PFG) traded up $0.77 during trading hours on Friday, reaching $71.76. 798,054 shares of the company were exchanged, compared to its average volume of 1,066,096. The firm has a market cap of $20,498.70, a PE ratio of 13.84, a P/E/G ratio of 1.36 and a beta of 1.71. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.10 and a current ratio of 0.10. Principal Financial Group Inc has a 12-month low of $56.12 and a 12-month high of $72.23.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Thursday, October 26th. The financial services provider reported $1.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.30 by ($0.02). The business had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.12 billion. Principal Financial Group had a return on equity of 13.55% and a net margin of 12.35%. During the same quarter in the prior year, the company earned $1.15 EPS. analysts anticipate that Principal Financial Group Inc will post 5.22 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Monday, December 4th will be paid a dividend of $0.49 per share. The ex-dividend date is Friday, December 1st. This represents a $1.96 dividend on an annualized basis and a yield of 2.73%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.47. Principal Financial Group’s dividend payout ratio is currently 32.13%.

In related news, Chairman Daniel Joseph Houston sold 38,097 shares of the stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $68.00, for a total transaction of $2,590,596.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nora Mary Everett sold 12,398 shares of the stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $68.00, for a total transaction of $843,064.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 197,606 shares of company stock valued at $13,630,935. 1.50% of the stock is owned by company insiders.

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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.

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

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