Conning Inc. lessened its stake in shares of Principal Financial Group Inc (NYSE:PFG) by 0.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 431,695 shares of the financial services provider’s stock after selling 1,943 shares during the quarter. Conning Inc. owned 0.15% of Principal Financial Group worth $27,775,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of PFG. Sun Life Financial INC lifted its position in shares of Principal Financial Group by 21,822.2% during the 2nd quarter. Sun Life Financial INC now owns 1,973 shares of the financial services provider’s stock worth $126,000 after buying an additional 1,964 shares during the period. Oppenheimer & Co. Inc. bought a new position in shares of Principal Financial Group during the 1st quarter worth approximately $202,000. Eagle Global Advisors LLC bought a new position in shares of Principal Financial Group during the 2nd quarter worth approximately $207,000. Koch Industries Inc. bought a new position in shares of Principal Financial Group during the 2nd quarter worth approximately $210,000. Finally, Honkamp Krueger Financial Services Inc. bought a new position in shares of Principal Financial Group during the 3rd quarter worth approximately $226,000. Institutional investors and hedge funds own 68.25% of the company’s stock.
Several research firms recently commented on PFG. Royal Bank Of Canada restated a “buy” rating and set a $74.00 target price on shares of Principal Financial Group in a research report on Wednesday, September 6th. Zacks Investment Research downgraded Principal Financial Group from a “buy” rating to a “hold” rating in a research report on Wednesday. BidaskClub upgraded Principal Financial Group from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) began coverage on Principal Financial Group in a research report on Wednesday, October 18th. They set a “neutral” rating and a $70.00 target price for the company. Finally, Wells Fargo & Company set a $76.00 target price on Principal Financial Group and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $67.40.
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In other news, Chairman Daniel Joseph Houston sold 38,097 shares of the stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $68.00, for a total value of $2,590,596.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Karen E. Shaff sold 17,082 shares of the stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $68.00, for a total value of $1,161,576.00. The disclosure for this sale can be found here. Insiders have sold 204,354 shares of company stock valued at $13,387,478 over the last 90 days. Corporate insiders own 1.50% of the company’s stock.
Shares of Principal Financial Group Inc (NYSE:PFG) traded up 1.62% during trading on Wednesday, reaching $66.92. The company’s stock had a trading volume of 367,908 shares. The firm’s 50-day moving average is $65.57 and its 200 day moving average is $64.49. The company has a market cap of $19.34 billion, a PE ratio of 15.21 and a beta of 1.67. Principal Financial Group Inc has a 52-week low of $52.67 and a 52-week high of $69.20.
Principal Financial Group (NYSE:PFG) last released its earnings results on Thursday, October 26th. The financial services provider reported $1.28 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.02). Principal Financial Group had a return on equity of 13.97% and a net margin of 12.35%. The business had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the previous year, the company earned $1.15 earnings per share. On average, equities research analysts predict that Principal Financial Group Inc will post $5.22 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Monday, December 4th will be paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, December 1st. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.47. This represents a $1.96 annualized dividend and a yield of 2.98%. Principal Financial Group’s dividend payout ratio is presently 30.82%.
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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