Dean Investment Associates LLC Lowers Stake in Principal Financial Group Inc (PFG)

Dean Investment Associates LLC reduced its stake in shares of Principal Financial Group Inc (NYSE:PFG) by 1.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 16,033 shares of the financial services provider’s stock after selling 165 shares during the period. Dean Investment Associates LLC’s holdings in Principal Financial Group were worth $1,012,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. NewSquare Capital LLC boosted its position in Principal Financial Group by 4.9% in the third quarter. NewSquare Capital LLC now owns 18,445 shares of the financial services provider’s stock valued at $950,000 after buying an additional 863 shares in the last quarter. Goelzer Investment Management Inc. boosted its position in Principal Financial Group by 0.6% in the third quarter. Goelzer Investment Management Inc. now owns 212,791 shares of the financial services provider’s stock valued at $10,961,000 after buying an additional 1,310 shares in the last quarter. AMG National Trust Bank boosted its position in Principal Financial Group by 6.5% in the third quarter. AMG National Trust Bank now owns 106,941 shares of the financial services provider’s stock valued at $5,509,000 after buying an additional 6,571 shares in the last quarter. Blue Rock Advisors LLC bought a new position in Principal Financial Group during the third quarter valued at about $1,072,000. Finally, Transamerica Financial Advisors Inc. boosted its position in Principal Financial Group by 9.9% in the third quarter. Transamerica Financial Advisors Inc. now owns 13,866 shares of the financial services provider’s stock valued at $715,000 after buying an additional 1,254 shares in the last quarter. 70.54% of the stock is currently owned by institutional investors.

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

Principal Financial Group Inc (NYSE PFG) opened at 65.35 on Friday. Principal Financial Group Inc has a 12-month low of $38.03 and a 12-month high of $65.86. The stock’s 50 day moving average is $63.53 and its 200 day moving average is $61.52. The stock has a market capitalization of $18.84 billion, a PE ratio of 14.72 and a beta of 1.65.

Principal Financial Group (NYSE:PFG) last posted its earnings results on Thursday, April 27th. The financial services provider reported $1.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.08. The company had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3.16 billion. Principal Financial Group had a net margin of 10.37% and a return on equity of 13.35%. During the same period last year, the business posted $0.97 earnings per share. Analysts forecast that Principal Financial Group Inc will post $5.04 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Monday, June 5th will be given a dividend of $0.46 per share. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, June 1st. This represents a $1.84 annualized dividend and a dividend yield of 2.82%. Principal Financial Group’s dividend payout ratio is currently 41.44%.

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PFG has been the topic of several research reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $64.00 price target on shares of Principal Financial Group in a report on Tuesday, March 21st. J P Morgan Chase & Co upped their price target on Principal Financial Group from $53.00 to $56.00 and gave the company an “underweight” rating in a report on Monday, April 3rd. Zacks Investment Research cut Principal Financial Group from a “buy” rating to a “hold” rating in a report on Tuesday, April 4th. Finally, Deutsche Bank AG upped their price target on Principal Financial Group from $60.00 to $62.00 and gave the company a “hold” rating in a report on Wednesday, April 19th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. Principal Financial Group presently has a consensus rating of “Hold” and an average target price of $57.82.

In other news, insider James P. Mccaughan sold 5,000 shares of the stock in a transaction on Thursday, April 6th. The shares were sold at an average price of $62.65, for a total transaction of $313,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Deanna D. Strable-Soethout sold 23,745 shares of the stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $65.00, for a total transaction of $1,543,425.00. The disclosure for this sale can be found here. Insiders have sold 284,059 shares of company stock valued at $18,183,043 in the last three months. 1.50% of the stock is owned by insiders.

About Principal Financial Group

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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