Artemis Investment Management LLP Increases Holdings in Principal Financial Group Inc (NYSE:PFG)

Artemis Investment Management LLP raised its stake in Principal Financial Group Inc (NYSE:PFG) by 19.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 223,100 shares of the financial services provider’s stock after purchasing an additional 36,900 shares during the period. Artemis Investment Management LLP owned 0.08% of Principal Financial Group worth $14,293,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Jacobi Capital Management LLC increased its stake in Principal Financial Group by 291.1% in the first quarter. Jacobi Capital Management LLC now owns 2,691 shares of the financial services provider’s stock valued at $167,000 after purchasing an additional 2,003 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of Principal Financial Group during the first quarter worth about $202,000. Blair William & Co. IL bought a new stake in shares of Principal Financial Group during the first quarter worth about $205,000. Eagle Global Advisors LLC bought a new stake in shares of Principal Financial Group during the second quarter worth about $207,000. Finally, Lowe Brockenbrough & Co. Inc. bought a new stake in shares of Principal Financial Group during the first quarter worth about $211,000. 68.19% of the stock is owned by hedge funds and other institutional investors.

PFG has been the subject of several recent research reports. Zacks Investment Research downgraded shares of Principal Financial Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Wells Fargo & Company reissued a “buy” rating on shares of Principal Financial Group in a research report on Thursday, June 29th. BidaskClub raised shares of Principal Financial Group from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Royal Bank Of Canada reissued a “buy” rating and set a $73.00 target price on shares of Principal Financial Group in a research report on Wednesday, July 12th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $68.00 target price on shares of Principal Financial Group in a research report on Thursday, August 3rd. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. Principal Financial Group presently has a consensus rating of “Hold” and an average price target of $61.78.

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In other news, insider James P. Mccaughan sold 6,193 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $62.33, for a total transaction of $386,009.69. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Gary P. Scholten sold 13,495 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $67.00, for a total transaction of $904,165.00. The disclosure for this sale can be found here. Insiders have sold a total of 286,925 shares of company stock worth $18,513,769 in the last ninety days. Corporate insiders own 1.50% of the company’s stock.

Principal Financial Group Inc (NYSE PFG) opened at 62.51 on Friday. The stock has a market capitalization of $18.06 billion, a PE ratio of 14.21 and a beta of 1.66. Principal Financial Group Inc has a 12-month low of $48.58 and a 12-month high of $67.73. The company’s 50-day moving average is $63.82 and its 200 day moving average is $63.76.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.09. The business had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Principal Financial Group had a net margin of 10.15% and a return on equity of 13.57%. During the same quarter last year, the company earned $1.15 EPS. On average, equities research analysts expect that Principal Financial Group Inc will post $5.19 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be paid a dividend of $0.47 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.46. The ex-dividend date is Wednesday, August 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.01%. Principal Financial Group’s dividend payout ratio (DPR) is presently 42.73%.

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.

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

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