Global Financial Private Capital LLC bought a new stake in Principal Financial Group Inc (NYSE:PFG) during the 4th quarter, Holdings Channel reports. The firm bought 16,635 shares of the financial services provider’s stock, valued at approximately $1,174,000.
Several other hedge funds also recently modified their holdings of PFG. Resources Investment Advisors Inc. lifted its holdings in shares of Principal Financial Group by 268.6% in the 4th quarter. Resources Investment Advisors Inc. now owns 2,997 shares of the financial services provider’s stock worth $155,000 after acquiring an additional 2,184 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Principal Financial Group by 215.0% in the 4th quarter. Acadian Asset Management LLC now owns 2,611 shares of the financial services provider’s stock worth $184,000 after acquiring an additional 1,782 shares during the last quarter. Koch Industries Inc. acquired a new position in shares of Principal Financial Group in the 2nd quarter worth approximately $210,000. First Heartland Consultants Inc. acquired a new position in shares of Principal Financial Group in the 3rd quarter worth approximately $224,000. Finally, Honkamp Krueger Financial Services Inc. acquired a new position in shares of Principal Financial Group in the 3rd quarter worth approximately $226,000. Hedge funds and other institutional investors own 68.64% of the company’s stock.
In related news, CEO Daniel Joseph Houston sold 37,080 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $70.05, for a total transaction of $2,597,454.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Deanna D. Strable-Soethout sold 18,905 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $70.07, for a total transaction of $1,324,673.35. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 301,958 shares of company stock worth $21,343,156. 1.50% of the stock is owned by insiders.
Shares of Principal Financial Group Inc (NYSE:PFG) opened at $63.05 on Friday. Principal Financial Group Inc has a 52 week low of $59.25 and a 52 week high of $75.58. The firm has a market cap of $18,260.00, a P/E ratio of 8.00, a P/E/G ratio of 1.35 and a beta of 1.58. 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 (NYSE:PFG) last announced its earnings results on Monday, January 29th. The financial services provider reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.18). Principal Financial Group had a return on equity of 13.55% and a net margin of 12.35%. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.32 billion. During the same period in the previous year, the company earned $1.27 earnings per share. analysts predict that Principal Financial Group Inc will post 5.22 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Monday, March 5th will be paid a dividend of $0.51 per share. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.49. This represents a $2.04 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend is Friday, March 2nd. Principal Financial Group’s dividend payout ratio is presently 24.87%.
Several equities analysts have recently commented on PFG shares. Goldman Sachs Group upgraded shares of Principal Financial Group from a “neutral” rating to a “buy” rating in a report on Tuesday, January 9th. Zacks Investment Research upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a report on Friday, January 12th. Wells Fargo & Co set a $79.00 price objective on shares of Principal Financial Group and gave the stock a “buy” rating in a report on Thursday, December 7th. Morgan Stanley decreased their price objective on shares of Principal Financial Group from $80.00 to $79.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 30th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $76.00 price objective on shares of Principal Financial Group in a report on Wednesday, January 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. Principal Financial Group currently has a consensus rating of “Hold” and an average target price of $73.56.
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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.
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