Principal Financial Group Inc (PFG) Position Held by Westpac Banking Corp

Westpac Banking Corp held its position in Principal Financial Group Inc (NYSE:PFG) during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 18,137 shares of the financial services provider’s stock at the close of the second quarter. Westpac Banking Corp’s holdings in Principal Financial Group were worth $1,162,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the business. Jacobi Capital Management LLC raised its position in shares of Principal Financial Group by 291.1% in the 1st quarter. Jacobi Capital Management LLC now owns 2,691 shares of the financial services provider’s stock valued at $167,000 after acquiring an additional 2,003 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in shares of Principal Financial Group in the 1st quarter valued at approximately $202,000. Eagle Global Advisors LLC acquired a new stake in shares of Principal Financial Group in the 2nd quarter valued at approximately $207,000. Blair William & Co. IL acquired a new stake in shares of Principal Financial Group in the 1st quarter valued at approximately $205,000. Finally, Lowe Brockenbrough & Co. Inc. acquired a new stake in shares of Principal Financial Group in the 1st quarter valued at approximately $211,000. Institutional investors own 68.19% of the company’s stock.

In other news, EVP Karen E. Shaff sold 38,105 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $65.05, for a total transaction of $2,478,730.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider James P. Mccaughan sold 60,814 shares of the company’s 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 disclosure for this sale can be found here. Insiders have sold 340,787 shares of company stock worth $22,034,118 over the last ninety days. 1.50% of the stock is owned by insiders.

A number of analysts recently weighed in on PFG shares. Zacks Investment Research downgraded shares of Principal Financial Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Wells Fargo & Company reiterated a “buy” rating on shares of Principal Financial Group in a research report on Thursday, June 29th. BidaskClub upgraded shares of 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. Four research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $61.78.

Principal Financial Group Inc (NYSE PFG) opened at 60.67 on Friday. Principal Financial Group Inc has a 52 week low of $47.56 and a 52 week high of $67.73. The company has a market capitalization of $17.53 billion, a PE ratio of 13.79 and a beta of 1.66. The stock’s 50 day moving average is $64.45 and its 200 day moving average is $63.78.

Principal Financial Group (NYSE:PFG) last issued its earnings results on Thursday, July 27th. The financial services provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the firm earned $1.15 earnings per share. Analysts predict that Principal Financial Group Inc will post $5.18 EPS for the current fiscal year.

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

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.10%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Wednesday, August 30th. Principal Financial Group’s dividend payout ratio is presently 42.73%.

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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.

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

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