D.A. Davidson & CO. lessened its holdings in Principal Financial Group Inc (NYSE:PFG) by 4.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,659 shares of the financial services provider’s stock after selling 1,744 shares during the period. D.A. Davidson & CO.’s holdings in Principal Financial Group were worth $2,476,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Jacobi Capital Management LLC raised its holdings 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 worth $167,000 after acquiring an additional 2,003 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Principal Financial Group in the 1st quarter worth about $202,000. Blair William & Co. IL acquired a new stake in shares of Principal Financial Group in the 1st quarter worth about $205,000. Eagle Global Advisors LLC acquired a new stake in shares of Principal Financial Group in the 2nd quarter worth about $207,000. Finally, Lowe Brockenbrough & Co. Inc. acquired a new stake in shares of Principal Financial Group in the 1st quarter worth about $211,000. Institutional investors own 68.20% of the company’s stock.
In other Principal Financial Group news, insider Nora Mary Everett sold 14,630 shares of Principal Financial Group stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $64.60, for a total value of $945,098.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James P. Mccaughan sold 60,814 shares of Principal Financial Group stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $62.10, for a total transaction of $3,776,549.40. The disclosure for this sale can be found here. Insiders sold 256,218 shares of company stock valued at $16,542,380 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.
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PFG has been the topic of a number of analyst reports. Royal Bank Of Canada restated a “buy” rating and issued a $74.00 target price on shares of Principal Financial Group in a report on Wednesday, September 6th. Zacks Investment Research upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Tuesday, August 1st. BidaskClub upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Wells Fargo & Company restated a “buy” rating on shares of Principal Financial Group in a report on Thursday, June 29th. Finally, Barclays PLC upped their target price on shares of Principal Financial Group from $61.00 to $63.00 and gave the stock an “equal weight” rating in a report on Friday, August 11th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Principal Financial Group currently has a consensus rating of “Hold” and a consensus price target of $61.78.
Shares of Principal Financial Group Inc (PFG) opened at 62.85 on Friday. Principal Financial Group Inc has a 12 month low of $49.04 and a 12 month high of $67.73. The company has a market capitalization of $18.16 billion, a P/E ratio of 14.28 and a beta of 1.66. The firm has a 50-day moving average of $63.57 and a 200-day moving average of $63.76.
Principal Financial Group (NYSE:PFG) last issued its earnings results on Thursday, July 27th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.09. The business had revenue of $3.27 billion during 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 in the previous year, the company earned $1.15 earnings per share. On average, equities analysts predict that Principal Financial Group Inc will post $5.19 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be issued a $0.47 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.46. This represents a $1.88 annualized dividend and a yield of 2.98%. Principal Financial Group’s payout ratio is 42.73%.
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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