Argent Capital Management LLC lifted its position in Principal Financial Group Inc (NYSE:PFG) by 15.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 399,929 shares of the financial services provider’s stock after acquiring an additional 53,373 shares during the period. Argent Capital Management LLC owned approximately 0.14% of Principal Financial Group worth $25,731,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Sun Life Financial INC raised its position in shares of Principal Financial Group by 21,822.2% in the 2nd quarter. Sun Life Financial INC now owns 1,973 shares of the financial services provider’s stock valued at $126,000 after acquiring an additional 1,964 shares during the period. Honkamp Krueger Financial Services Inc. acquired a new stake in shares of Principal Financial Group in the 3rd quarter valued at approximately $226,000. Private Advisor Group LLC acquired a new stake in shares of Principal Financial Group in the 3rd quarter valued at approximately $255,000. Highbridge Capital Management LLC acquired a new stake in shares of Principal Financial Group in the 3rd quarter valued at approximately $268,000. Finally, ETRADE Capital Management LLC acquired a new stake in shares of Principal Financial Group in the 2nd quarter valued at approximately $269,000. Institutional investors and hedge funds own 68.76% of the company’s stock.
Shares of Principal Financial Group Inc (NYSE PFG) traded down $0.23 during mid-day trading on Tuesday, reaching $71.53. 849,500 shares of the company’s stock traded hands, compared to its average volume of 1,109,322. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.26. The firm has a market cap of $20,300.00, a P/E ratio of 13.99, a P/E/G ratio of 1.38 and a beta of 1.71. Principal Financial Group Inc has a 52-week low of $56.12 and a 52-week high of $72.23.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Monday, December 4th will be issued a $0.49 dividend. The ex-dividend date is Friday, December 1st. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.47. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.74%. Principal Financial Group’s dividend payout ratio (DPR) is 32.13%.
In other news, EVP Karen E. Shaff sold 50,561 shares of Principal Financial Group stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $69.51, for a total value of $3,514,495.11. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Nora Mary Everett sold 12,398 shares of Principal Financial Group stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $68.00, for a total transaction of $843,064.00. The disclosure for this sale can be found here. Insiders sold 191,413 shares of company stock worth $13,244,925 over the last quarter. 1.50% of the stock is owned by corporate insiders.
PFG has been the topic of a number of analyst reports. Wells Fargo & Company set a $76.00 price target on shares of Principal Financial Group and gave the company a “buy” rating in a research report on Wednesday, October 18th. Royal Bank of Canada reiterated a “buy” rating and issued a $74.00 price target on shares of Principal Financial Group in a research report on Wednesday, September 6th. Morgan Stanley increased their price target on shares of Principal Financial Group from $67.00 to $72.00 and gave the company an “equal weight” rating in a research report on Thursday, October 5th. Keefe, Bruyette & Woods restated a “hold” rating and set a $73.00 target price on shares of Principal Financial Group in a report on Monday. Finally, Zacks Investment Research upgraded shares of Principal Financial Group from a “sell” rating to a “hold” rating and set a $73.00 target price on the stock in a report on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $68.20.
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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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