Focused Wealth Management Inc increased its position in shares of Principal Financial Group Inc (NYSE:PFG) by 2,090.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,410 shares of the financial services provider’s stock after acquiring an additional 2,300 shares during the quarter. Focused Wealth Management Inc’s holdings in Principal Financial Group were worth $128,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in PFG. Itau Unibanco Holding S.A. acquired a new stake in Principal Financial Group during the 2nd quarter worth approximately $100,000. First Mercantile Trust Co. raised its holdings in Principal Financial Group by 101.1% during the 2nd quarter. First Mercantile Trust Co. now owns 1,910 shares of the financial services provider’s stock worth $102,000 after buying an additional 960 shares during the period. Optimum Investment Advisors acquired a new stake in Principal Financial Group during the 1st quarter worth approximately $111,000. Point72 Asia Hong Kong Ltd acquired a new stake in Principal Financial Group during the 1st quarter worth approximately $113,000. Finally, Dupont Capital Management Corp raised its holdings in shares of Principal Financial Group by 140.2% in the second quarter. Dupont Capital Management Corp now owns 2,356 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 1,375 shares during the last quarter. 68.64% of the stock is currently owned by institutional investors and hedge funds.
NYSE:PFG opened at $56.94 on Monday. Principal Financial Group Inc has a 1-year low of $52.31 and a 1-year high of $75.58. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.10 and a current ratio of 0.10.
Principal Financial Group (NYSE:PFG) last released its earnings results on Thursday, July 26th. The financial services provider reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.02). Principal Financial Group had a net margin of 12.35% and a return on equity of 13.55%. The firm had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.58 billion. During the same period in the prior year, the business posted $1.31 earnings per share. equities research analysts predict that Principal Financial Group Inc will post 5.22 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Thursday, September 6th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 3.72%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.52. The ex-dividend date is Wednesday, September 5th.
In other Principal Financial Group news, insider James P. Mccaughan sold 20,000 shares of Principal Financial Group stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $55.44, for a total transaction of $1,108,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 60,000 shares of company stock valued at $3,271,600. Company insiders own 1.50% of the company’s stock.
A number of research firms have recently issued reports on PFG. Wells Fargo & Co set a $66.00 price objective on shares of Principal Financial Group and gave the company a “hold” rating in a report on Wednesday, May 23rd. Zacks Investment Research upgraded shares of Principal Financial Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 1st. Credit Suisse Group decreased their target price on shares of Principal Financial Group from $62.00 to $56.00 and set a “neutral” rating for the company in a research note on Friday, August 17th. Morgan Stanley decreased their target price on shares of Principal Financial Group from $70.00 to $69.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 11th. Finally, Barclays decreased their target price on shares of Principal Financial Group from $72.00 to $68.00 and set an “overweight” rating for the company in a research note on Monday, July 9th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $69.20.
Principal Financial Group Company Profile
Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. It operates through Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.
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