Janney Montgomery Scott LLC Boosts Position in Principal Financial Group Inc (NYSE:PFG)

Janney Montgomery Scott LLC boosted its holdings in Principal Financial Group Inc (NYSE:PFG) by 15.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 25,584 shares of the financial services provider’s stock after buying an additional 3,335 shares during the period. Janney Montgomery Scott LLC’s holdings in Principal Financial Group were worth $1,646,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Janus Henderson Group PLC grew its position in shares of Principal Financial Group by 6,656.1% during the second 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 in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Principal Financial Group by 1,613.5% in the 2nd quarter. Nordea Investment Management AB now owns 668,624 shares of the financial services provider’s stock valued at $42,839,000 after acquiring an additional 629,604 shares during the last quarter. Old Mutual Global Investors UK Ltd. lifted its holdings in shares of Principal Financial Group by 104.5% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 1,180,596 shares of the financial services provider’s stock valued at $75,959,000 after acquiring an additional 603,342 shares during the last quarter. BlackRock Inc. lifted its holdings 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 acquiring an additional 592,172 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings 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 acquiring an additional 587,221 shares during the last quarter. Institutional investors and hedge funds own 68.64% of the company’s stock.

In other Principal Financial Group news, EVP Gary P. Scholten sold 24,310 shares of Principal Financial Group stock in a transaction on Monday, January 8th. The shares were sold at an average price of $71.59, for a total value of $1,740,352.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Nora Mary Everett sold 12,398 shares of Principal Financial Group 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. Insiders sold 369,535 shares of company stock worth $25,938,392 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.

Shares of Principal Financial Group Inc (PFG) traded up $0.50 during mid-day trading on Thursday, reaching $73.88. 1,077,204 shares of the company traded hands, compared to its average volume of 1,080,000. The stock has a market capitalization of $21,330.00, a price-to-earnings ratio of 12.11, a price-to-earnings-growth ratio of 1.35 and a beta of 1.72. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.26. Principal Financial Group Inc has a 12 month low of $56.12 and a 12 month high of $74.05.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, October 26th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.30 by ($0.02). The business had revenue of $3.95 billion for the quarter, compared to analysts’ expectations 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. analysts anticipate that Principal Financial Group Inc will post 5.22 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Monday, December 4th were issued a $0.49 dividend. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.47. This represents a $1.96 annualized dividend and a yield of 2.65%. The ex-dividend date was Friday, December 1st. Principal Financial Group’s payout ratio is currently 32.13%.

PFG has been the subject of a number of analyst reports. Zacks Investment Research raised shares of 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. Wells Fargo & Co reissued a “market perform” rating and issued a $76.00 price objective on shares of Principal Financial Group in a research note on Monday. Goldman Sachs Group began coverage on shares of Principal Financial Group in a research note on Wednesday, October 18th. They issued a “neutral” rating and a $70.00 price objective for the company. Morgan Stanley raised their price objective on shares of Principal Financial Group from $67.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 5th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $73.00 price objective on shares of Principal Financial Group in a research note on Monday, December 11th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. Principal Financial Group presently has an average rating of “Hold” and an average price target of $68.50.

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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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