Thrivent Financial For Lutherans lessened its stake in shares of Principal Financial Group Inc (NYSE:PFG) by 46.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,250 shares of the financial services provider’s stock after selling 8,800 shares during the quarter. Thrivent Financial For Lutherans’ holdings in Principal Financial Group were worth $656,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of PFG. Jacobi Capital Management LLC lifted its position in shares of Principal Financial Group by 291.1% during the 1st quarter. Jacobi Capital Management LLC now owns 2,691 shares of the financial services provider’s stock worth $167,000 after buying an additional 2,003 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new stake in Principal Financial Group in the 1st quarter valued at $202,000. Blair William & Co. IL purchased a new stake in Principal Financial Group in the 1st quarter valued at $205,000. Eagle Global Advisors LLC purchased a new stake in Principal Financial Group in the 2nd quarter valued at $207,000. Finally, Lowe Brockenbrough & Co. Inc. purchased a new stake in Principal Financial Group in the 1st quarter valued at $211,000. Institutional investors and hedge funds own 68.26% of the company’s stock.
In other Principal Financial Group news, EVP Gary P. Scholten sold 13,495 shares of the firm’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $67.00, for a total value of $904,165.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider James P. Mccaughan sold 60,817 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $66.98, for a total value of $4,073,522.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 150,272 shares of company stock valued at $9,696,407. 1.50% of the stock is currently owned by corporate insiders.
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Several analysts recently commented on the stock. BidaskClub downgraded shares of Principal Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Zacks Investment Research upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Tuesday, August 1st. 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. Morgan Stanley upped their price target on shares of Principal Financial Group from $67.00 to $72.00 and gave the company an “equal weight” rating in a research report on Thursday, October 5th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $66.00.
Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.09. The firm had revenue of $3.27 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the company posted $1.15 earnings per share.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 1st were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend was Wednesday, August 30th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.46. Principal Financial Group’s payout ratio is currently 42.73%.
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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