Principal Financial Group Inc (PFG) Shares Bought by State of Wisconsin Investment Board

State of Wisconsin Investment Board grew its stake in Principal Financial Group Inc (NYSE:PFG) by 2.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 206,288 shares of the financial services provider’s stock after buying an additional 4,213 shares during the period. State of Wisconsin Investment Board owned 0.07% of Principal Financial Group worth $14,556,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Advisory Services Network LLC boosted its holdings in shares of Principal Financial Group by 34.5% in the 4th quarter. Advisory Services Network LLC now owns 16,474 shares of the financial services provider’s stock valued at $1,162,000 after buying an additional 4,225 shares in the last quarter. Global Financial Private Capital LLC acquired a new position in shares of Principal Financial Group in the 4th quarter valued at $1,174,000. Wells Fargo & Company MN boosted its holdings in shares of Principal Financial Group by 5.7% in the 4th quarter. Wells Fargo & Company MN now owns 518,242 shares of the financial services provider’s stock valued at $36,568,000 after buying an additional 28,178 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Principal Financial Group by 17.7% in the 4th quarter. First Trust Advisors LP now owns 308,392 shares of the financial services provider’s stock valued at $21,760,000 after buying an additional 46,484 shares in the last quarter. Finally, New Mexico Educational Retirement Board boosted its holdings in shares of Principal Financial Group by 3.6% in the 4th quarter. New Mexico Educational Retirement Board now owns 25,804 shares of the financial services provider’s stock valued at $1,821,000 after buying an additional 900 shares in the last quarter. Institutional investors and hedge funds own 68.64% of the company’s stock.

PFG has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a report on Friday, January 12th. Wells Fargo & Co set a $79.00 price target on shares of Principal Financial Group and gave the company a “buy” rating in a research report on Thursday, December 7th. 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. Morgan Stanley reduced their price target on shares of Principal Financial Group from $80.00 to $79.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 30th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $73.00 price target on shares of Principal Financial Group in a research report on Monday, December 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $73.56.

Shares of Principal Financial Group Inc (NYSE PFG) opened at $62.37 on Friday. Principal Financial Group Inc has a 12-month low of $59.25 and a 12-month high of $75.58. The company has a market cap of $18,130.00, a price-to-earnings ratio of 8.01, a P/E/G ratio of 1.35 and a beta of 1.58. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.10 and a quick ratio of 0.10.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Monday, January 29th. The financial services provider reported $1.19 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.18). Principal Financial Group had a net margin of 12.35% and a return on equity of 13.55%. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.32 billion. During the same quarter last year, the company earned $1.27 EPS. equities analysts forecast that Principal Financial Group Inc will post 5.22 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Monday, March 5th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, March 2nd. This represents a $2.04 dividend on an annualized basis and a yield of 3.27%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.49. Principal Financial Group’s dividend payout ratio is presently 25.16%.

In other Principal Financial Group news, EVP Gary P. Scholten sold 24,310 shares of the company’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $71.59, for a total transaction of $1,740,352.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Daniel Joseph Houston sold 37,080 shares of the company’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $70.05, for a total transaction of $2,597,454.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 301,958 shares of company stock valued at $21,343,156. 1.50% of the stock is owned by insiders.

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

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