Alliancebernstein L.P. Has $31.90 Million Stake in Principal Financial Group Inc (PFG)

Alliancebernstein L.P. grew its stake in Principal Financial Group Inc (NYSE:PFG) by 6.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 497,833 shares of the financial services provider’s stock after purchasing an additional 30,486 shares during the period. Alliancebernstein L.P. owned approximately 0.17% of Principal Financial Group worth $31,896,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Principal Financial Group by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 29,649,875 shares of the financial services provider’s stock valued at $1,871,204,000 after purchasing an additional 1,862,125 shares during the period. BlackRock Inc. grew its stake in shares of Principal Financial Group by 2,276.3% in the 1st quarter. BlackRock Inc. now owns 17,714,618 shares of the financial services provider’s stock valued at $1,117,969,000 after purchasing an additional 16,969,140 shares during the period. State Street Corp grew its stake in shares of Principal Financial Group by 0.9% in the 1st quarter. State Street Corp now owns 13,622,890 shares of the financial services provider’s stock valued at $859,745,000 after purchasing an additional 123,961 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Principal Financial Group by 2.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,734,915 shares of the financial services provider’s stock valued at $235,703,000 after purchasing an additional 84,575 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Principal Financial Group by 9.8% in the 1st quarter. Geode Capital Management LLC now owns 2,704,133 shares of the financial services provider’s stock valued at $170,420,000 after purchasing an additional 240,899 shares during the period. Institutional investors own 68.20% of the company’s stock.

Shares of Principal Financial Group Inc (PFG) opened at 62.42 on Tuesday. The company’s 50-day moving average price is $63.68 and its 200-day moving average price is $63.76. The company has a market capitalization of $18.04 billion, a price-to-earnings ratio of 14.19 and a beta of 1.66. Principal Financial Group Inc has a 52-week low of $48.81 and a 52-week high of $67.73.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.09. The business had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Principal Financial Group had a net margin of 10.15% and a return on equity of 13.57%. During the same period last year, the firm posted $1.15 earnings per share. Equities research analysts forecast that Principal Financial Group Inc will post $5.19 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.01%. This is a boost 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 (DPR) is 42.73%.

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Several equities research analysts have recently weighed in on PFG shares. Royal Bank Of Canada reiterated a “buy” rating and issued a $74.00 price objective on shares of Principal Financial Group in a research note on Wednesday, September 6th. Zacks Investment Research upgraded Principal Financial Group from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Tuesday, August 1st. BidaskClub upgraded Principal Financial Group from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Wells Fargo & Company restated a “buy” rating on shares of Principal Financial Group in a research report on Thursday, June 29th. Finally, Barclays PLC increased 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. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $61.78.

In other Principal Financial Group news, EVP Karen E. Shaff sold 30,500 shares of the business’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $65.00, for a total transaction of $1,982,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider James P. Mccaughan sold 6,193 shares of the business’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $62.33, for a total transaction of $386,009.69. The disclosure for this sale can be found here. Insiders sold 286,925 shares of company stock worth $18,513,769 over the last three months. 1.50% of the stock is currently owned by insiders.

Principal Financial Group 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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