Twin Tree Management LP Invests $1.26 Million in Principal Financial Group Inc (PFG) Stock

Twin Tree Management LP bought a new position in shares of Principal Financial Group Inc (NYSE:PFG) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 20,673 shares of the financial services provider’s stock, valued at approximately $1,259,000.

Other institutional investors have also recently bought and sold shares of the company. New Mexico Educational Retirement Board grew its stake in Principal Financial Group by 3.6% in the 4th quarter. New Mexico Educational Retirement Board now owns 25,804 shares of the financial services provider’s stock worth $1,821,000 after buying an additional 900 shares in the last quarter. Goelzer Investment Management Inc. boosted its holdings in shares of Principal Financial Group by 0.5% during the 4th quarter. Goelzer Investment Management Inc. now owns 184,495 shares of the financial services provider’s stock valued at $13,018,000 after acquiring an additional 957 shares during the last quarter. Citizens Financial Group Inc RI boosted its holdings in shares of Principal Financial Group by 0.7% during the 4th quarter. Citizens Financial Group Inc RI now owns 157,190 shares of the financial services provider’s stock valued at $11,092,000 after acquiring an additional 1,020 shares during the last quarter. Everence Capital Management Inc. boosted its holdings in shares of Principal Financial Group by 16.8% during the 4th quarter. Everence Capital Management Inc. now owns 7,591 shares of the financial services provider’s stock valued at $536,000 after acquiring an additional 1,091 shares during the last quarter. Finally, Advisor Group Inc. boosted its holdings in shares of Principal Financial Group by 2.6% during the 4th quarter. Advisor Group Inc. now owns 45,893 shares of the financial services provider’s stock valued at $3,239,000 after acquiring an additional 1,155 shares during the last quarter. 68.64% of the stock is currently owned by institutional investors and hedge funds.

In other Principal Financial Group news, insider Luis E. Valdes sold 27,662 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $64.02, for a total transaction of $1,770,921.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.50% of the stock is currently owned by company insiders.

PFG has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price target on shares of Principal Financial Group from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Thursday, April 5th. Wells Fargo reissued a “hold” rating and issued a $68.00 price objective on shares of Principal Financial Group in a report on Thursday, April 26th. Credit Suisse Group assumed coverage on shares of Principal Financial Group in a report on Wednesday, April 25th. They issued a “neutral” rating and a $62.00 price objective on the stock. Bank of America assumed coverage on shares of Principal Financial Group in a report on Monday, March 26th. They issued a “neutral” rating and a $65.00 price objective on the stock. Finally, UBS assumed coverage on shares of Principal Financial Group in a report on Friday, March 2nd. They issued a “neutral” rating and a $69.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $71.18.

Shares of Principal Financial Group traded down $0.77, reaching $58.82, on Friday, according to MarketBeat. The company’s stock had a trading volume of 14,743 shares, compared to its average volume of 1,663,500. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.10 and a quick ratio of 0.10. Principal Financial Group Inc has a 12-month low of $58.90 and a 12-month high of $59.43.

Principal Financial Group (NYSE:PFG) last released its earnings results on Thursday, April 26th. The financial services provider reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.05. Principal Financial Group had a net margin of 12.35% and a return on equity of 13.55%. The company had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same quarter last year, the business earned $1.27 EPS. equities analysts forecast that Principal Financial Group Inc will post 5.22 earnings per share for the current year.

Principal Financial Group announced that its board has approved a share repurchase program on Monday, May 7th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 1.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Monday, June 4th will be paid a dividend of $0.52 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.51. The ex-dividend date is Friday, June 1st. This represents a $2.08 dividend on an annualized basis and a yield of 3.54%.

About Principal Financial Group

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

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