IFP Advisors Inc lessened its stake in shares of Principal Financial Group Inc (NYSE:PFG) by 7.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 17,303 shares of the financial services provider’s stock after selling 1,493 shares during the period. IFP Advisors Inc’s holdings in Principal Financial Group were worth $1,113,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. BerganKDV Wealth Management LLC acquired a new stake in shares of Principal Financial Group during the 3rd quarter valued at $384,000. State of Tennessee Treasury Department lifted its position in shares of 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 acquiring an additional 26,432 shares during the last quarter. Swiss National Bank lifted its position in shares of 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 acquiring an additional 30,900 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in shares of Principal Financial Group during the 2nd quarter valued at $2,210,000. Finally, Chicago Equity Partners LLC acquired a new stake in shares of Principal Financial Group during the 2nd quarter valued at $2,880,000. Institutional investors own 68.25% of the company’s stock.
PFG has been the subject of a number of recent research reports. Zacks Investment Research upgraded Principal Financial Group from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Tuesday, August 1st. Royal Bank Of Canada reiterated a “buy” rating and set a $73.00 price objective on shares of Principal Financial Group in a research report on Wednesday, July 12th. BidaskClub raised shares of Principal Financial Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Wells Fargo & Company set a $76.00 target price on shares of Principal Financial Group and gave the company a “buy” rating in a research note on Wednesday, October 18th. Finally, Morgan Stanley boosted their target price on shares of Principal Financial Group from $67.00 to $72.00 and gave the company an “equal weight” rating in a research note on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Principal Financial Group currently has an average rating of “Hold” and a consensus price target of $67.40.
In related news, insider James P. Mccaughan sold 6,193 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $62.33, for a total value of $386,009.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Karen E. Shaff sold 17,082 shares of the stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $68.00, for a total transaction of $1,161,576.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 143,537 shares of company stock valued at $9,313,955. 1.50% of the stock is owned by corporate insiders.
Shares of Principal Financial Group Inc (NYSE:PFG) opened at $68.32 on Friday. The company has a current ratio of 0.10, a quick ratio of 0.08 and a debt-to-equity ratio of 0.26. The firm has a market cap of $19.89 billion, a PE ratio of 13.43, a PEG ratio of 1.44 and a beta of 1.71.
Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Thursday, October 26th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.30 by ($0.02). Principal Financial Group had a net margin of 12.35% and a return on equity of 13.55%. The firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter last year, the company earned $1.15 earnings per share. equities analysts forecast that Principal Financial Group Inc will post 5.21 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Monday, December 4th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 2.87%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Friday, December 1st. Principal Financial Group’s dividend payout ratio is 30.82%.
Principal Financial Group 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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