Cubist Systematic Strategies LLC Grows Stake in Principal Financial Group Inc (PFG)

Cubist Systematic Strategies LLC increased its position in shares of Principal Financial Group Inc (NYSE:PFG) by 159.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,328 shares of the financial services provider’s stock after purchasing an additional 7,581 shares during the period. Cubist Systematic Strategies LLC’s holdings in Principal Financial Group were worth $790,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PFG. Envestnet Asset Management Inc. increased its position in shares of Principal Financial Group by 5.6% during the first quarter. Envestnet Asset Management Inc. now owns 8,515 shares of the financial services provider’s stock valued at $535,000 after purchasing an additional 453 shares during the period. Blair William & Co. IL bought a new stake in shares of Principal Financial Group during the first quarter valued at approximately $205,000. OppenheimerFunds Inc. increased its position in shares of Principal Financial Group by 7.3% during the first quarter. OppenheimerFunds Inc. now owns 29,154 shares of the financial services provider’s stock valued at $1,840,000 after purchasing an additional 1,975 shares during the period. Ngam Advisors L.P. increased its position in shares of Principal Financial Group by 6.7% during the first quarter. Ngam Advisors L.P. now owns 15,302 shares of the financial services provider’s stock valued at $966,000 after purchasing an additional 964 shares during the period. Finally, Thrivent Financial For Lutherans increased its position in shares of Principal Financial Group by 2.4% during the first quarter. Thrivent Financial For Lutherans now owns 19,050 shares of the financial services provider’s stock valued at $1,202,000 after purchasing an additional 450 shares during the period. Institutional investors and hedge funds own 68.18% of the company’s stock.

PFG has been the topic of a number of research reports. Wells Fargo & Company restated a “buy” rating on shares of Principal Financial Group in a research report on Thursday, June 29th. Zacks Investment Research cut Principal Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, July 7th. BidaskClub upgraded Principal Financial Group from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Royal Bank Of Canada reiterated a “buy” rating and issued a $73.00 price target on shares of Principal Financial Group in a research report on Wednesday, July 12th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $68.00 price target on shares of Principal Financial Group in a research report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $66.00.

Shares of Principal Financial Group Inc (NYSE:PFG) opened at 67.32 on Tuesday. The firm has a 50-day moving average price of $63.78 and a 200-day moving average price of $64.06. Principal Financial Group Inc has a 12 month low of $52.08 and a 12 month high of $67.95. The company has a market capitalization of $19.45 billion, a PE ratio of 15.30 and a beta of 1.67.

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

The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 1st were paid a $0.47 dividend. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.46. The ex-dividend date was Wednesday, August 30th. This represents a $1.88 annualized dividend and a dividend yield of 2.79%. Principal Financial Group’s dividend payout ratio (DPR) is presently 42.73%.

In other news, EVP Gary P. Scholten sold 13,495 shares of Principal Financial Group stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $67.00, for a total value of $904,165.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James P. Mccaughan sold 60,814 shares of Principal Financial Group stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $62.10, for a total value of $3,776,549.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 150,272 shares of company stock worth $9,696,407. Corporate insiders

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PFG. Envestnet Asset Management Inc. increased its position in shares of Principal Financial Group by 5.6% during the first quarter. Envestnet Asset Management Inc. now owns 8,515 shares of the financial services provider’s stock valued at $535,000 after purchasing an additional 453 shares during the period. Blair William & Co. IL bought a new stake in shares of Principal Financial Group during the first quarter valued at approximately $205,000. OppenheimerFunds Inc. increased its position in shares of Principal Financial Group by 7.3% during the first quarter. OppenheimerFunds Inc. now owns 29,154 shares of the financial services provider’s stock valued at $1,840,000 after purchasing an additional 1,975 shares during the period. Ngam Advisors L.P. increased its position in shares of Principal Financial Group by 6.7% during the first quarter. Ngam Advisors L.P. now owns 15,302 shares of the financial services provider’s stock valued at $966,000 after purchasing an additional 964 shares during the period. Finally, Thrivent Financial For Lutherans increased its position in shares of Principal Financial Group by 2.4% during the first quarter. Thrivent Financial For Lutherans now owns 19,050 shares of the financial services provider’s stock valued at $1,202,000 after purchasing an additional 450 shares during the period. Institutional investors and hedge funds own 68.18% of the company’s stock.

PFG has been the topic of a number of research reports. Wells Fargo & Company restated a “buy” rating on shares of Principal Financial Group in a research report on Thursday, June 29th. Zacks Investment Research cut Principal Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, July 7th. BidaskClub upgraded Principal Financial Group from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Royal Bank Of Canada reiterated a “buy” rating and issued a $73.00 price target on shares of Principal Financial Group in a research report on Wednesday, July 12th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $68.00 price target on shares of Principal Financial Group in a research report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $66.00.

Shares of Principal Financial Group Inc (NYSE:PFG) opened at 67.32 on Tuesday. The firm has a 50-day moving average price of $63.78 and a 200-day moving average price of $64.06. Principal Financial Group Inc has a 12 month low of $52.08 and a 12 month high of $67.95. The company has a market capitalization of $19.45 billion, a PE ratio of 15.30 and a beta of 1.67.

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

The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 1st were paid a $0.47 dividend. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.46. The ex-dividend date was Wednesday, August 30th. This represents a $1.88 annualized dividend and a dividend yield of 2.79%. Principal Financial Group’s dividend payout ratio (DPR) is presently 42.73%.

In other news, EVP Gary P. Scholten sold 13,495 shares of Principal Financial Group stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $67.00, for a total value of $904,165.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James P. Mccaughan sold 60,814 shares of Principal Financial Group stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $62.10, for a total value of $3,776,549.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 150,272 shares of company stock worth $9,696,407. Corporate insiders own 1.50% of the company’s stock.

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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.

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

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