Amalgamated Bank raised its holdings in Principal Financial Group Inc (NYSE:PFG) by 59.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,011 shares of the financial services provider’s stock after buying an additional 11,225 shares during the period. Amalgamated Bank’s holdings in Principal Financial Group were worth $1,923,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of PFG. Jacobi Capital Management LLC increased its stake in Principal Financial Group by 291.1% in the 1st quarter. Jacobi Capital Management LLC now owns 2,691 shares of the financial services provider’s stock valued at $167,000 after buying an additional 2,003 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in Principal Financial Group in the 1st quarter valued at $202,000. Blair William & Co. IL acquired a new stake in Principal Financial Group in the 1st quarter valued at $205,000. Eagle Global Advisors LLC acquired a new stake in Principal Financial Group in the 2nd quarter valued at $207,000. Finally, Lowe Brockenbrough & Co. Inc. acquired a new stake in Principal Financial Group in the 1st quarter valued at $211,000. Hedge funds and other institutional investors own 68.20% of the company’s stock.
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In other news, EVP Gary P. Scholten sold 13,495 shares of Principal Financial Group stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $67.00, for a total value of $904,165.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James P. Mccaughan sold 60,817 shares of Principal Financial Group stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $66.98, for a total transaction of $4,073,522.66. The disclosure for this sale can be found here. Insiders have sold 286,925 shares of company stock valued at $18,513,769 in the last 90 days. 1.50% of the stock is currently owned by corporate insiders.
Shares of Principal Financial Group Inc (NYSE PFG) opened at 62.42 on Tuesday. The company has a market cap of $18.04 billion, a P/E ratio of 14.19 and a beta of 1.66. The company’s 50 day moving average is $63.68 and its 200 day moving average is $63.76. Principal Financial Group Inc has a one year low of $48.81 and a one year high of $67.73.
Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.09. Principal Financial Group had a net margin of 10.15% and a return on equity of 13.57%. The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter last year, the company posted $1.15 earnings per share. On average, equities analysts predict that Principal Financial Group Inc will post $5.19 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Wednesday, August 30th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.46. Principal Financial Group’s dividend payout ratio (DPR) is 42.73%.
PFG has been the topic of several recent research reports. Royal Bank Of Canada reiterated a “buy” rating and issued a $74.00 price target on shares of Principal Financial Group in a research note on Wednesday, September 6th. Zacks Investment Research upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Tuesday, August 1st. BidaskClub upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Wells Fargo & Company restated a “buy” rating on shares of Principal Financial Group in a research note on Thursday, June 29th. Finally, Barclays PLC boosted their price objective on shares of Principal Financial Group from $61.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday, August 11th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Principal Financial Group currently has a consensus rating of “Hold” and an average target price of $61.78.
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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