Principal Financial Group Inc (PFG) Shares Sold by TD Asset Management Inc.

TD Asset Management Inc. lowered its position in shares of Principal Financial Group Inc (NYSE:PFG) by 10.0% during the fourth quarter, HoldingsChannel reports. The firm owned 285,845 shares of the financial services provider’s stock after selling 31,616 shares during the quarter. TD Asset Management Inc.’s holdings in Principal Financial Group were worth $12,626,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of PFG. Creative Planning increased its position in Principal Financial Group by 7.0% in the 4th quarter. Creative Planning now owns 13,618 shares of the financial services provider’s stock valued at $601,000 after acquiring an additional 893 shares during the period. Dupont Capital Management Corp increased its position in Principal Financial Group by 978.9% in the 4th quarter. Dupont Capital Management Corp now owns 25,419 shares of the financial services provider’s stock valued at $1,123,000 after acquiring an additional 23,063 shares during the period. First Mercantile Trust Co. increased its position in Principal Financial Group by 41.1% in the 4th quarter. First Mercantile Trust Co. now owns 2,130 shares of the financial services provider’s stock valued at $94,000 after acquiring an additional 620 shares during the period. Crossmark Global Holdings Inc. increased its position in Principal Financial Group by 8.9% in the 4th quarter. Crossmark Global Holdings Inc. now owns 206,815 shares of the financial services provider’s stock valued at $9,135,000 after acquiring an additional 16,910 shares during the period. Finally, Wedge Capital Management L L P NC increased its position in Principal Financial Group by 4.8% in the 4th quarter. Wedge Capital Management L L P NC now owns 587,573 shares of the financial services provider’s stock valued at $25,953,000 after acquiring an additional 27,010 shares during the period. Institutional investors and hedge funds own 68.64% of the company’s stock.

NYSE PFG opened at $48.38 on Tuesday. Principal Financial Group Inc has a 12-month low of $40.42 and a 12-month high of $64.87.

Principal Financial Group (NYSE:PFG) last released its earnings results on Tuesday, January 29th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.29 by ($0.18). The business had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter last year, the firm earned $1.19 EPS.

Principal Financial Group declared that its board has initiated a stock buyback program on Tuesday, November 27th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Monday, March 4th will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 4.46%. The ex-dividend date is Friday, March 1st.

In other Principal Financial Group news, EVP Julia M. Lawler sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $50.17, for a total transaction of $50,170.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Amy Christine Friedrich sold 900 shares of the business’s stock in a transaction that occurred on Thursday, January 17th. The stock was sold at an average price of $49.00, for a total value of $44,100.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,900 shares of company stock worth $144,270 in the last quarter. 1.50% of the stock is currently owned by insiders.

PFG has been the topic of several recent research reports. Goldman Sachs Group cut Principal Financial Group from a “buy” rating to a “neutral” rating and set a $50.00 price target on the stock. in a research report on Tuesday, January 8th. Deutsche Bank initiated coverage on Principal Financial Group in a research report on Tuesday, October 16th. They issued a “hold” rating and a $61.00 price target on the stock. UBS Group cut Principal Financial Group from a “neutral” rating to a “sell” rating and dropped their price target for the company from $46.00 to $45.00 in a research report on Tuesday, February 5th. TheStreet cut Principal Financial Group from a “b-” rating to a “c+” rating in a research report on Thursday, December 20th. Finally, Royal Bank of Canada cut Principal Financial Group from an “outperform” rating to a “sector perform” rating and set a $49.00 price target on the stock. in a research report on Tuesday, December 11th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. Principal Financial Group currently has an average rating of “Hold” and a consensus price target of $59.64.

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Principal Financial Group Company Profile

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. It operates through Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.

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Want to see what other hedge funds are holding PFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Principal Financial Group Inc (NYSE:PFG).

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

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