Wealthfront Advisers LLC Has $5.57 Million Position in Principal Financial Group, Inc. $PFG

Wealthfront Advisers LLC increased its holdings in shares of Principal Financial Group, Inc. (NASDAQ:PFG) by 14.5% during the fourth quarter, Holdings Channel reports. The fund owned 63,177 shares of the company’s stock after acquiring an additional 7,992 shares during the quarter. Wealthfront Advisers LLC’s holdings in Principal Financial Group were worth $5,573,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Torren Management LLC acquired a new position in shares of Principal Financial Group during the 4th quarter worth approximately $145,000. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Principal Financial Group by 67.2% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 158,121 shares of the company’s stock worth $13,948,000 after acquiring an additional 63,531 shares during the last quarter. M&T Bank Corp increased its holdings in shares of Principal Financial Group by 58.2% during the 4th quarter. M&T Bank Corp now owns 6,245 shares of the company’s stock worth $551,000 after acquiring an additional 2,298 shares during the last quarter. Comerica Bank increased its holdings in shares of Principal Financial Group by 64.1% during the 4th quarter. Comerica Bank now owns 68,027 shares of the company’s stock worth $6,001,000 after acquiring an additional 26,579 shares during the last quarter. Finally, Aprio Wealth Management LLC acquired a new position in shares of Principal Financial Group during the 4th quarter worth approximately $416,000. 75.08% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Principal Financial Group news, insider Wee Yee Cheong sold 1,080 shares of the firm’s stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $101.00, for a total transaction of $109,080.00. Following the transaction, the insider owned 91,108 shares in the company, valued at $9,201,908. This trade represents a 1.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel George Djurasovic sold 2,571 shares of the firm’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $100.83, for a total value of $259,233.93. Following the transaction, the general counsel owned 21,906 shares in the company, valued at approximately $2,208,781.98. This trade represents a 10.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 3,652 shares of company stock worth $368,414. Corporate insiders own 1.13% of the company’s stock.

Principal Financial Group Price Performance

Shares of NASDAQ PFG opened at $100.91 on Friday. The firm has a market cap of $21.86 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 0.94 and a beta of 0.87. The company has a current ratio of 0.24, a quick ratio of 0.27 and a debt-to-equity ratio of 0.33. Principal Financial Group, Inc. has a 1-year low of $73.57 and a 1-year high of $101.54. The business’s 50 day moving average is $92.37 and its 200-day moving average is $89.20.

Principal Financial Group (NASDAQ:PFG) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.06. Principal Financial Group had a return on equity of 16.25% and a net margin of 10.10%.The firm had revenue of $3.53 billion for the quarter, compared to analyst estimates of $4.11 billion. During the same quarter last year, the company earned $1.81 EPS. Equities research analysts predict that Principal Financial Group, Inc. will post 9.31 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.82 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.80. The ex-dividend date is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a yield of 3.3%. Principal Financial Group’s dividend payout ratio is 45.78%.

Analyst Ratings Changes

A number of research analysts recently weighed in on PFG shares. JPMorgan Chase & Co. reissued a “neutral” rating and set a $103.00 target price on shares of Principal Financial Group in a report on Monday, January 5th. Morgan Stanley increased their target price on Principal Financial Group from $93.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 3rd. Bank of America lowered their target price on Principal Financial Group from $96.00 to $92.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Evercore set a $108.00 target price on Principal Financial Group in a research note on Monday. Finally, Barclays increased their target price on Principal Financial Group from $85.00 to $87.00 and gave the stock an “underweight” rating in a research note on Friday, April 24th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $95.33.

Principal Financial Group Profile

Principal Financial Group (NASDAQ: PFG) is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm’s business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal’s product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.