361 Capital LLC trimmed its holdings in shares of Principal Financial Group Inc (NYSE:PFG) by 53.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 82,290 shares of the financial services provider’s stock after selling 94,398 shares during the quarter. Principal Financial Group accounts for 1.0% of 361 Capital LLC’s holdings, making the stock its 2nd biggest position. 361 Capital LLC’s holdings in Principal Financial Group were worth $5,295,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of PFG. AQR Capital Management LLC increased its stake in Principal Financial Group by 171.8% during the 1st quarter. AQR Capital Management LLC now owns 60,472 shares of the financial services provider’s stock worth $3,816,000 after purchasing an additional 38,222 shares in the last quarter. LS Investment Advisors LLC increased its stake in Principal Financial Group by 3.0% during the 2nd quarter. LS Investment Advisors LLC now owns 13,092 shares of the financial services provider’s stock worth $839,000 after purchasing an additional 383 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in Principal Financial Group by 1.2% during the 2nd quarter. Louisiana State Employees Retirement System now owns 16,600 shares of the financial services provider’s stock worth $1,064,000 after acquiring an additional 200 shares during the last quarter. Aperio Group LLC boosted its position in Principal Financial Group by 7.6% during the 2nd quarter. Aperio Group LLC now owns 196,045 shares of the financial services provider’s stock worth $12,561,000 after acquiring an additional 13,902 shares during the last quarter. Finally, Bedrijfstakpensioenfonds Voor DE Media PNO acquired a new position in Principal Financial Group during the 2nd quarter worth approximately $1,519,000. 68.01% of the stock is owned by institutional investors and hedge funds.
Principal Financial Group Inc (NYSE PFG) traded up $0.24 during midday trading on Thursday, hitting $68.57. The stock had a trading volume of 1,361,300 shares, compared to its average volume of 1,115,206. The firm has a market cap of $19,730.61, a P/E ratio of 13.32, a PEG ratio of 1.31 and a beta of 1.71. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.26. Principal Financial Group Inc has a 12 month low of $56.12 and a 12 month high of $69.95.
Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Thursday, October 26th. The financial services provider reported $1.28 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.02). The company had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.12 billion. Principal Financial Group had a net margin of 12.35% and a return on equity of 13.55%. During the same period in the previous year, the company posted $1.15 EPS. equities analysts predict 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. Stockholders of record on Monday, December 4th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Friday, December 1st. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.47. Principal Financial Group’s dividend payout ratio is presently 30.82%.
A number of research firms have weighed in on PFG. Zacks Investment Research raised Principal Financial Group from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Tuesday, August 1st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $68.00 price target on shares of Principal Financial Group in a research report on Thursday, August 3rd. Barclays PLC upped their price target on Principal Financial Group from $61.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, August 11th. BidaskClub downgraded Principal Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Finally, Goldman Sachs Group, Inc. (The) began coverage on Principal Financial Group in a research report on Wednesday, October 18th. They set a “neutral” rating and a $70.00 price target for the company. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. Principal Financial Group currently has an average rating of “Hold” and a consensus target price of $67.40.
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In other news, insider James P. Mccaughan sold 60,814 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $62.10, for a total value of $3,776,549.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Daniel Joseph Houston sold 38,097 shares of the stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $68.00, for a total value of $2,590,596.00. The disclosure for this sale can be found here. In the last three months, insiders sold 143,537 shares of company stock valued at $9,313,955. 1.50% of the stock is currently owned by insiders.
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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