Flinton Capital Management LLC cut its holdings in shares of Principal Financial Group Inc (NYSE:PFG) by 55.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,576 shares of the financial services provider’s stock after selling 27,616 shares during the period. Flinton Capital Management LLC’s holdings in Principal Financial Group were worth $1,593,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in PFG. Sei Investments Co. grew its position in shares of Principal Financial Group by 19.0% during the third quarter. Sei Investments Co. now owns 68,538 shares of the financial services provider’s stock worth $4,409,000 after acquiring an additional 10,940 shares during the last quarter. Rhumbline Advisers grew its position in shares of Principal Financial Group by 5.5% during the third quarter. Rhumbline Advisers now owns 509,717 shares of the financial services provider’s stock worth $32,795,000 after acquiring an additional 26,519 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Principal Financial Group by 9.2% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 961,374 shares of the financial services provider’s stock worth $61,855,000 after acquiring an additional 81,084 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Principal Financial Group by 21.0% during the third quarter. Russell Investments Group Ltd. now owns 205,071 shares of the financial services provider’s stock worth $13,194,000 after acquiring an additional 35,553 shares during the last quarter. Finally, Quantbot Technologies LP grew its position in shares of Principal Financial Group by 44.0% during the third quarter. Quantbot Technologies LP now owns 16,817 shares of the financial services provider’s stock worth $1,082,000 after acquiring an additional 5,137 shares during the last quarter. Institutional investors and hedge funds own 68.64% of the company’s stock.
In other Principal Financial Group news, insider Luis E. Valdes sold 27,662 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $64.02, for a total value of $1,770,921.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Daniel Joseph Houston sold 19,856 shares of the firm’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $72.02, for a total value of $1,430,029.12. The disclosure for this sale can be found here. In the last three months, insiders sold 158,122 shares of company stock valued at $11,126,142. 1.50% of the stock is owned by corporate insiders.
Shares of Principal Financial Group Inc (NYSE PFG) opened at $62.11 on Friday. 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 fifty-two week low of $59.25 and a fifty-two week high of $75.58. The firm has a market capitalization of $18,160.00, a price-to-earnings ratio of 10.62, a P/E/G ratio of 1.35 and a beta of 1.60.
Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Monday, January 29th. The financial services provider reported $1.19 earnings per share for the quarter, missing the Thomson Reuters’ 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 company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same period in the prior year, the business earned $1.27 earnings per share. analysts anticipate that Principal Financial Group Inc will post 5.22 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Monday, March 5th will be issued a $0.51 dividend. The ex-dividend date is Friday, March 2nd. This represents a $2.04 dividend on an annualized basis and a yield of 3.28%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.49. Principal Financial Group’s dividend payout ratio (DPR) is 34.87%.
Several brokerages recently weighed in on PFG. Zacks Investment Research raised Principal Financial Group from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a report on Friday, January 12th. Wells Fargo downgraded Principal Financial Group from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 9th. Goldman Sachs raised Principal Financial Group from a “neutral” rating to a “buy” rating in a report on Tuesday, January 9th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $73.00 price target on shares of Principal Financial Group in a report on Monday, December 11th. Finally, Morgan Stanley decreased their price target on Principal Financial Group from $80.00 to $79.00 and set an “equal weight” rating for the company in a report on Tuesday, January 30th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $73.10.
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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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