Tealwood Asset Management Inc. decreased its position in Principal Financial Group Inc (NYSE:PFG) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 106,082 shares of the financial services provider’s stock after selling 2,186 shares during the period. Principal Financial Group comprises 2.8% of Tealwood Asset Management Inc.’s investment portfolio, making the stock its 3rd biggest position. Tealwood Asset Management Inc.’s holdings in Principal Financial Group were worth $7,485,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PFG. Sun Life Financial INC grew its position in shares of Principal Financial Group by 21,822.2% in the second quarter. Sun Life Financial INC now owns 1,973 shares of the financial services provider’s stock valued at $126,000 after purchasing an additional 1,964 shares during the period. Acadian Asset Management LLC grew its position in shares of Principal Financial Group by 215.0% in the fourth quarter. Acadian Asset Management LLC now owns 2,611 shares of the financial services provider’s stock valued at $184,000 after purchasing an additional 1,782 shares during the period. First Heartland Consultants Inc. acquired a new stake in shares of Principal Financial Group in the third quarter valued at about $224,000. Honkamp Krueger Financial Services Inc. acquired a new stake in shares of Principal Financial Group in the third quarter valued at about $226,000. Finally, Private Advisor Group LLC acquired a new stake in shares of Principal Financial Group in the third quarter valued at about $255,000. 68.64% of the stock is owned by institutional investors.
Several analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a research report on Friday, January 12th. Goldman Sachs Group upgraded shares of Principal Financial Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 9th. Wells Fargo & Co lowered shares of Principal Financial Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 9th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $73.00 target price on shares of Principal Financial Group in a research report on Monday, December 11th. Finally, 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. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $68.90.
In related news, insider Nora Mary Everett sold 17,290 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $70.16, for a total transaction of $1,213,066.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Gary P. Scholten sold 24,310 shares of the business’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $71.59, for a total transaction of $1,740,352.90. The disclosure for this sale can be found here. Insiders have sold 301,958 shares of company stock worth $21,343,156 over the last 90 days. 1.50% of the stock is currently owned by company insiders.
Principal Financial Group Inc (PFG) traded up $0.57 on Friday, reaching $74.05. 1,324,475 shares of the company were exchanged, compared to its average volume of 1,020,000. The firm has a market capitalization of $21,330.00, a price-to-earnings ratio of 12.14, a PEG ratio of 1.35 and a beta of 1.72. Principal Financial Group Inc has a 52-week low of $56.12 and a 52-week high of $74.80. 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 results 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). 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 previous year, the firm posted $1.15 earnings per share. equities analysts anticipate that Principal Financial Group Inc will post 5.22 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Monday, December 4th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Friday, December 1st. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.47. This represents a $1.96 dividend on an annualized basis and a yield of 2.65%. Principal Financial Group’s payout ratio is presently 32.13%.
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Principal Financial Group 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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