National Pension Service Has $2.09 Million Stock Holdings in Principal Financial Group, Inc. $PFG

National Pension Service decreased its holdings in Principal Financial Group, Inc. (NASDAQ:PFG) by 93.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 23,684 shares of the company’s stock after selling 364,362 shares during the period. National Pension Service’s holdings in Principal Financial Group were worth $2,089,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Mediolanum International Funds Ltd increased its position in shares of Principal Financial Group by 41.5% during the 3rd quarter. Mediolanum International Funds Ltd now owns 127,368 shares of the company’s stock worth $10,504,000 after purchasing an additional 37,357 shares in the last quarter. National Wealth Management Group LLC acquired a new stake in shares of Principal Financial Group during the 4th quarter worth about $998,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Principal Financial Group by 47.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 50,386 shares of the company’s stock worth $4,630,000 after purchasing an additional 16,171 shares in the last quarter. Great Lakes Advisors LLC acquired a new stake in shares of Principal Financial Group during the 3rd quarter worth about $924,000. Finally, VCI Wealth Management LLC acquired a new stake in shares of Principal Financial Group during the 4th quarter worth about $1,650,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Stock Down 0.7%

Shares of NASDAQ PFG opened at $102.90 on Tuesday. The firm has a market capitalization of $22.23 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 0.98 and a beta of 0.88. The company has a current ratio of 0.27, 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 $75.00 and a 1 year high of $105.00. The firm’s 50-day moving average is $96.69 and its 200-day moving average is $92.27.

Principal Financial Group (NASDAQ:PFG) last issued its earnings results on Wednesday, April 29th. The company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.06. Principal Financial Group had a net margin of 10.10% and a return on equity of 16.25%. The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $4.11 billion. During the same quarter last year, the firm earned $1.81 EPS. Equities analysts expect that Principal Financial Group, Inc. will post 9.36 EPS for the current year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Monday, June 1st will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Monday, June 1st. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.80. Principal Financial Group’s payout ratio is 45.78%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Evercore set a $108.00 target price on shares of Principal Financial Group in a research report on Monday, April 27th. Morgan Stanley increased their target price on shares of Principal Financial Group from $95.00 to $107.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 21st. Raymond James Financial cut shares of Principal Financial Group from a “strong-buy” rating to an “outperform” rating and increased their target price for the stock from $99.00 to $111.00 in a research report on Tuesday, May 19th. UBS Group increased their target price on shares of Principal Financial Group from $92.00 to $94.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $92.00 target price on shares of Principal Financial Group in a research report on Thursday, March 26th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Principal Financial Group has an average rating of “Hold” and an average target price of $98.10.

Insider Activity at Principal Financial Group

In related news, General Counsel George Djurasovic sold 2,571 shares of Principal Financial Group stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $100.83, for a total transaction of $259,233.93. Following the transaction, the general counsel owned 21,906 shares of the company’s stock, valued at $2,208,781.98. This trade represents a 10.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Wee Yee Cheong sold 9,183 shares of Principal Financial Group stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $101.26, for a total transaction of $929,870.58. Following the transaction, the insider directly owned 77,188 shares in the company, valued at $7,816,056.88. The trade was a 10.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 28,317 shares of company stock worth $2,884,902 in the last three months. 1.13% of the stock is owned by insiders.

Principal Financial Group Company 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.