Principal Financial Group Inc (PFG) Shares Bought by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Principal Financial Group Inc (NYSE:PFG) by 9.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,855 shares of the financial services provider’s stock after purchasing an additional 1,941 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Principal Financial Group were worth $1,406,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Principal Financial Group by 2.0% in the second quarter. Vanguard Group Inc. now owns 30,237,096 shares of the financial services provider’s stock worth $1,937,291,000 after acquiring an additional 587,221 shares in the last quarter. BlackRock Inc. increased its position in shares of Principal Financial Group by 3.3% in the second quarter. BlackRock Inc. now owns 18,306,790 shares of the financial services provider’s stock worth $1,172,916,000 after acquiring an additional 592,172 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Principal Financial Group by 6,656.1% in the second quarter. Janus Henderson Group PLC now owns 3,020,597 shares of the financial services provider’s stock worth $193,529,000 after acquiring an additional 2,975,888 shares in the last quarter. Schroder Investment Management Group increased its position in shares of Principal Financial Group by 6.9% in the second quarter. Schroder Investment Management Group now owns 1,545,645 shares of the financial services provider’s stock worth $99,740,000 after acquiring an additional 100,091 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Principal Financial Group by 2.1% in the third quarter. Legal & General Group Plc now owns 1,506,176 shares of the financial services provider’s stock worth $96,908,000 after acquiring an additional 31,107 shares in the last quarter. 68.81% of the stock is owned by hedge funds and other institutional investors.

In other Principal Financial Group news, insider James P. Mccaughan sold 8,953 shares of the stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $62.12, for a total transaction of $556,160.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Deanna D. Strable-Soethout sold 18,905 shares of the stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $70.07, for a total transaction of $1,324,673.35. The disclosure for this sale can be found here. Insiders have sold a total of 199,522 shares of company stock worth $13,236,083 over the last quarter. 1.50% of the stock is currently owned by insiders.

Shares of Principal Financial Group Inc (NYSE:PFG) traded down $0.27 during mid-day trading on Monday, hitting $70.52. 1,577,400 shares of the stock traded hands, compared to its average volume of 1,112,563. The stock has a market capitalization of $20,362.98, a P/E ratio of 13.75, a PEG ratio of 1.35 and a beta of 1.71. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.26. Principal Financial Group Inc has a fifty-two week low of $56.12 and a fifty-two week high of $72.23.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Thursday, October 26th. The financial services provider reported $1.28 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 company 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. research analysts forecast that Principal Financial Group Inc will post 5.22 EPS for the current fiscal year.

The business also recently disclosed 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. This represents a $1.96 dividend on an annualized basis and a yield of 2.78%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.47. The ex-dividend date is Friday, December 1st. Principal Financial Group’s dividend payout ratio is 30.82%.

PFG has been the subject of several recent research reports. Zacks Investment Research raised shares of Principal Financial Group from a “sell” rating to a “hold” rating and set a $73.00 price objective for the company in a research report on Monday, October 2nd. Wells Fargo & Company set a $76.00 price objective on shares of Principal Financial Group and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Goldman Sachs Group started coverage on shares of Principal Financial Group in a research note on Wednesday, October 18th. They issued a “neutral” rating and a $70.00 target price for the company. Morgan Stanley upped 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. Finally, Barclays upped their target price on shares of Principal Financial Group from $61.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday, August 11th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. Principal Financial Group presently has an average rating of “Hold” and an average target price of $67.40.

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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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Institutional Ownership by Quarter for Principal Financial Group (NYSE:PFG)

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