OLD Second National Bank of Aurora Increases Position in Principal Financial Group Inc (PFG)

OLD Second National Bank of Aurora boosted its position in shares of Principal Financial Group Inc (NYSE:PFG) by 4.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 30,515 shares of the financial services provider’s stock after buying an additional 1,305 shares during the period. OLD Second National Bank of Aurora’s holdings in Principal Financial Group were worth $1,955,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the stock. Farmers & Merchants Investments Inc. boosted its stake in shares of Principal Financial Group by 52.5% in the second quarter. Farmers & Merchants Investments Inc. now owns 5,495 shares of the financial services provider’s stock worth $352,000 after buying an additional 1,892 shares in the last quarter. State Treasurer State of Michigan boosted its stake in shares of Principal Financial Group by 0.3% in the second quarter. State Treasurer State of Michigan now owns 88,079 shares of the financial services provider’s stock worth $5,643,000 after buying an additional 300 shares in the last quarter. Bedrijfstakpensioenfonds Voor DE Media PNO purchased a new stake in shares of Principal Financial Group during the second quarter worth about $1,519,000. Aperio Group LLC boosted its stake in shares of Principal Financial Group by 7.6% in the second quarter. Aperio Group LLC now owns 196,045 shares of the financial services provider’s stock worth $12,561,000 after buying an additional 13,902 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Principal Financial Group by 1.2% in the second quarter. Louisiana State Employees Retirement System now owns 16,600 shares of the financial services provider’s stock worth $1,064,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 70.55% of the company’s stock.

Shares of Principal Financial Group Inc (NYSE:PFG) traded down 0.30% during midday trading on Wednesday, hitting $66.96. The stock had a trading volume of 170,289 shares. The stock’s 50 day moving average price is $64.76 and its 200 day moving average price is $62.67. The firm has a market cap of $19.30 billion, a price-to-earnings ratio of 15.08 and a beta of 1.65. Principal Financial Group Inc has a 12 month low of $44.22 and a 12 month high of $67.28.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Thursday, April 27th. The financial services provider reported $1.27 EPS for the quarter, topping the consensus estimate of $1.19 by $0.08. Principal Financial Group had a return on equity of 13.35% and a net margin of 10.37%. The firm had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter last year, the company earned $0.97 earnings per share. On average, equities analysts forecast that Principal Financial Group Inc will post $5.06 EPS for the current fiscal year.

Principal Financial Group declared that its board has approved a stock repurchase program on Wednesday, May 17th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 1.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Monday, June 5th were paid a $0.46 dividend. The ex-dividend date of this dividend was Thursday, June 1st. This represents a $1.84 annualized dividend and a dividend yield of 2.74%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.45. Principal Financial Group’s dividend payout ratio (DPR) is 41.44%.

COPYRIGHT VIOLATION WARNING: This report was originally published by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this report on another site, it was illegally copied and republished in violation of international copyright and trademark legislation. The correct version of this report can be read at https://sportsperspectives.com/2017/07/26/old-second-national-bank-of-aurora-increases-position-in-principal-financial-group-inc-pfg.html.

A number of equities research analysts recently issued reports on the company. Royal Bank Of Canada restated a “buy” rating and issued a $73.00 price objective on shares of Principal Financial Group in a research note on Wednesday, July 12th. BidaskClub upgraded Principal Financial Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Zacks Investment Research cut Principal Financial Group from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. Wells Fargo & Company restated a “buy” rating on shares of Principal Financial Group in a research note on Thursday, June 29th. Finally, Deutsche Bank AG boosted their price objective on Principal Financial Group from $60.00 to $62.00 and gave the company a “hold” rating in a research note on Wednesday, April 19th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $59.70.

In other news, CFO Deanna D. Strable-Soethout sold 23,745 shares of the firm’s stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $65.00, for a total value of $1,543,425.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Gregory Bernard Elming sold 30,707 shares of the firm’s stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $64.20, for a total value of $1,971,389.40. The disclosure for this sale can be found here. Insiders sold 344,801 shares of company stock worth $22,229,762 in the last ninety days. Corporate insiders own 1.50% of the company’s stock.

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)

Receive News & Ratings for Principal Financial Group Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Principal Financial Group Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply