Toronto Dominion Bank Reduces Stake in Principal Financial Group Inc (PFG)

Toronto Dominion Bank decreased its stake in Principal Financial Group Inc (NYSE:PFG) by 19.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 72,403 shares of the financial services provider’s stock after selling 17,109 shares during the period. Toronto Dominion Bank’s holdings in Principal Financial Group were worth $4,570,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cipher Capital LP acquired a new position in shares of Principal Financial Group during the fourth quarter valued at $6,674,000. Aviva PLC increased its position in Principal Financial Group by 5.4% in the fourth quarter. Aviva PLC now owns 188,593 shares of the financial services provider’s stock valued at $10,914,000 after buying an additional 9,704 shares in the last quarter. Capstone Investment Advisors LLC purchased a new position in Principal Financial Group during the fourth quarter valued at approximately $3,789,000. Advisors Asset Management Inc. increased its position in Principal Financial Group by 25.5% in the third quarter. Advisors Asset Management Inc. now owns 87,952 shares of the financial services provider’s stock valued at $4,530,000 after buying an additional 17,850 shares in the last quarter. Finally, Twin Capital Management Inc. increased its position in Principal Financial Group by 13.3% in the fourth quarter. Twin Capital Management Inc. now owns 75,164 shares of the financial services provider’s stock valued at $4,349,000 after buying an additional 8,800 shares in the last quarter. 70.54% of the stock is owned by institutional investors and hedge funds.

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

Principal Financial Group Inc (NYSE PFG) traded up 0.23% during midday trading on Friday, reaching $65.35. The company’s stock had a trading volume of 1,649,338 shares. The company has a 50 day moving average of $63.53 and a 200-day moving average of $61.52. Principal Financial Group Inc has a 1-year low of $38.03 and a 1-year high of $65.86. The company has a market capitalization of $18.84 billion, a P/E ratio of 14.72 and a beta of 1.65.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Thursday, April 27th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.08. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.16 billion. Principal Financial Group had a return on equity of 13.35% and a net margin of 10.37%. During the same period last year, the business posted $0.97 earnings per share. Equities research analysts anticipate that Principal Financial Group Inc will post $5.04 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Monday, June 5th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, June 1st. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.45. This represents a $1.84 dividend on an annualized basis and a yield of 2.82%. Principal Financial Group’s dividend payout ratio (DPR) is 41.44%.

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Several research analysts recently commented on the company. J P Morgan Chase & Co increased their price objective on Principal Financial Group from $53.00 to $56.00 and gave the company an “underweight” rating in a research note on Monday, April 3rd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $64.00 target price on shares of Principal Financial Group in a research note on Tuesday, March 21st. Zacks Investment Research downgraded Principal Financial Group from a “buy” rating to a “hold” rating in a research note on Tuesday, April 4th. Finally, Deutsche Bank AG raised their target price on Principal Financial Group from $60.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday, April 19th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $57.82.

In related news, insider Luis E. Valdes sold 10,000 shares of Principal Financial Group stock in a transaction dated Thursday, April 13th. The stock was sold at an average price of $62.00, for a total transaction of $620,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Gary P. Scholten sold 21,950 shares of Principal Financial Group stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $65.04, for a total value of $1,427,628.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 284,059 shares of company stock worth $18,183,043. 1.50% of the stock is owned by company 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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