Norinchukin Bank The raised its holdings in shares of Principal Financial Group Inc (NYSE:PFG) by 12.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,585 shares of the financial services provider’s stock after purchasing an additional 1,189 shares during the quarter. Norinchukin Bank The’s holdings in Principal Financial Group were worth $678,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Swiss National Bank increased its stake in Principal Financial Group by 3.0% during the 2nd quarter. Swiss National Bank now owns 1,050,263 shares of the financial services provider’s stock valued at $67,290,000 after purchasing an additional 30,900 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new stake in Principal Financial Group during the 2nd quarter valued at $2,210,000. Chicago Equity Partners LLC bought a new stake in Principal Financial Group during the 2nd quarter valued at $2,880,000. State of Tennessee Treasury Department increased its stake in Principal Financial Group by 25.7% during the 2nd quarter. State of Tennessee Treasury Department now owns 129,360 shares of the financial services provider’s stock valued at $8,288,000 after purchasing an additional 26,432 shares in the last quarter. Finally, Mason Street Advisors LLC increased its stake in Principal Financial Group by 0.9% during the 1st quarter. Mason Street Advisors LLC now owns 36,946 shares of the financial services provider’s stock valued at $2,332,000 after purchasing an additional 347 shares in the last quarter. Institutional investors and hedge funds own 68.20% of the company’s stock.
A number of analysts have commented on PFG shares. Zacks Investment Research lowered shares of Principal Financial Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 22nd. Wells Fargo & Company restated a “buy” rating on shares of Principal Financial Group in a research note on Thursday, June 29th. BidaskClub upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Royal Bank Of Canada reiterated a “buy” rating and issued a $73.00 target price on shares of Principal Financial Group in a research note on Wednesday, July 12th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $68.00 target price on shares of Principal Financial Group in a research note on Thursday, August 3rd. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $61.78.
Shares of Principal Financial Group Inc (NYSE PFG) opened at 62.90 on Wednesday. The company has a market cap of $18.18 billion, a price-to-earnings ratio of 14.30 and a beta of 1.66. The stock has a 50 day moving average of $63.57 and a 200 day moving average of $63.76. Principal Financial Group Inc has a 1-year low of $49.04 and a 1-year high of $67.73.
Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.09. Principal Financial Group had a return on equity of 13.57% and a net margin of 10.15%. The firm had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same period last year, the company earned $1.15 earnings per share. On average, equities analysts forecast that Principal Financial Group Inc will post $5.19 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.47 per share. 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. This represents a $1.88 annualized dividend and a dividend yield of 2.99%. Principal Financial Group’s dividend payout ratio (DPR) is presently 42.73%.
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In other news, insider James P. Mccaughan sold 6,193 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $62.33, for a total transaction of $386,009.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nora Mary Everett sold 14,630 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $64.60, for a total value of $945,098.00. The disclosure for this sale can be found here. Insiders have sold 256,218 shares of company stock valued at $16,542,380 over the last 90 days. Corporate insiders own 1.50% of the company’s stock.
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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