American National Registered Investment Advisor Inc. cut its stake in shares of Principal Financial Group Inc (NYSE:PFG) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,763 shares of the financial services provider’s stock after selling 25 shares during the period. American National Registered Investment Advisor Inc.’s holdings in Principal Financial Group were worth $1,715,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. CENTRAL TRUST Co raised its position in Principal Financial Group by 2.4% in the first quarter. CENTRAL TRUST Co now owns 2,176 shares of the financial services provider’s stock valued at $137,000 after buying an additional 52 shares during the period. Jacobi Capital Management LLC raised its position in Principal Financial Group by 291.1% in the first 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 period. Oppenheimer & Co. Inc. bought a new position in Principal Financial Group during the first quarter valued at about $202,000. Blair William & Co. IL bought a new position in Principal Financial Group during the first quarter valued at about $205,000. Finally, Washington Trust Bank raised its position in Principal Financial Group by 29.3% in the first quarter. Washington Trust Bank now owns 3,336 shares of the financial services provider’s stock valued at $211,000 after buying an additional 755 shares during the period. Institutional investors own 70.58% of the company’s stock.
Shares of Principal Financial Group Inc (NYSE:PFG) traded up 0.36% during midday trading on Monday, hitting $66.34. The stock had a trading volume of 1,093,867 shares. The firm has a 50 day moving average price of $63.41 and a 200 day moving average price of $61.84. The stock has a market cap of $19.12 billion, a PE ratio of 14.94 and a beta of 1.65. Principal Financial Group Inc has a one year low of $43.79 and a one year high of $66.47.
Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Thursday, April 27th. The financial services provider reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.08. Principal Financial Group had a return on equity of 13.35% and a net margin of 10.37%. The business had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the prior year, the business posted $0.97 EPS. On average, equities analysts forecast that Principal Financial Group Inc will post $5.05 earnings per share for the current fiscal year.
Principal Financial Group declared that its board has approved a share repurchase plan on Wednesday, May 17th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 1.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Monday, June 5th were issued a $0.46 dividend. The ex-dividend date of this dividend was Thursday, June 1st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.77%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.45. Principal Financial Group’s dividend payout ratio is presently 41.44%.
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Several equities analysts have issued reports on the company. BidaskClub upgraded 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. Zacks Investment Research lowered Principal Financial Group from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. Wells Fargo & Company reiterated a “buy” rating on shares of Principal Financial Group in a research note on Thursday, June 29th. Finally, Deutsche Bank AG lifted their target price on Principal Financial Group from $60.00 to $62.00 and gave the company a “hold” rating in a research note on Wednesday, April 19th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. Principal Financial Group presently has a consensus rating of “Hold” and an average price target of $59.70.
In other news, EVP Karen E. Shaff sold 30,500 shares of the stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $65.00, for a total value of $1,982,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Gregory Bernard Elming sold 30,707 shares of the stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $64.20, for a total value of $1,971,389.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 405,712 shares of company stock worth $26,067,155. Company insiders own 1.50% of the company’s stock.
Principal Financial Group Company Profile
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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