Mn Services Vermogensbeheer B.V. Grows Stake in Principal Financial Group Inc (PFG)

Mn Services Vermogensbeheer B.V. grew its position in Principal Financial Group Inc (NYSE:PFG) by 1.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 47,576 shares of the financial services provider’s stock after buying an additional 900 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Principal Financial Group were worth $3,061,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stevens Capital Management LP grew its stake in shares of Principal Financial Group by 663.0% during the third quarter. Stevens Capital Management LP now owns 83,348 shares of the financial services provider’s stock worth $5,363,000 after purchasing an additional 72,424 shares during the period. Old Mutual Global Investors UK Ltd. grew its stake in shares of Principal Financial Group by 104.5% during the third quarter. Old Mutual Global Investors UK Ltd. now owns 1,180,596 shares of the financial services provider’s stock worth $75,959,000 after purchasing an additional 603,342 shares during the period. Wedge Capital Management L L P NC grew its stake in shares of Principal Financial Group by 0.6% during the third quarter. Wedge Capital Management L L P NC now owns 501,031 shares of the financial services provider’s stock worth $32,236,000 after purchasing an additional 3,193 shares during the period. Csenge Advisory Group acquired a new stake in shares of Principal Financial Group during the third quarter worth $1,058,000. Finally, Andra AP fonden grew its stake in shares of Principal Financial Group by 8.4% during the third quarter. Andra AP fonden now owns 83,500 shares of the financial services provider’s stock worth $5,372,000 after purchasing an additional 6,500 shares during the period. 68.58% of the stock is owned by institutional investors.

A number of brokerages recently commented on PFG. Zacks Investment Research cut Principal Financial Group from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Wells Fargo & Company set a $76.00 price objective on Principal Financial Group and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Goldman Sachs Group, Inc. (The) began coverage on Principal Financial Group in a research note on Wednesday, October 18th. They set a “neutral” rating and a $70.00 price objective for the company. Morgan Stanley lifted their price objective on Principal Financial Group from $67.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 5th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $74.00 price objective on shares of Principal Financial Group in a research note on Wednesday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $67.40.

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In related news, EVP Karen E. Shaff sold 17,082 shares of the company’s stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $68.00, for a total transaction of $1,161,576.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Daniel Joseph Houston sold 38,097 shares of the company’s stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $68.00, for a total value of $2,590,596.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 143,537 shares of company stock worth $9,313,955. Corporate insiders own 1.50% of the company’s stock.

Shares of Principal Financial Group Inc (NYSE PFG) opened at $67.92 on Wednesday. The company has a market capitalization of $19,987.60, a PE ratio of 13.49, a PEG ratio of 1.33 and a beta of 1.71. Principal Financial Group Inc has a twelve month low of $53.86 and a twelve month high of $69.95. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.26.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Thursday, October 26th. The financial services provider reported $1.28 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.02). The firm had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.12 billion. Principal Financial Group had a net margin of 12.35% and a return on equity of 13.55%. During the same quarter last year, the firm earned $1.15 earnings per share. sell-side analysts anticipate that Principal Financial Group Inc will post 5.22 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Monday, December 4th will be issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.89%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.47. The ex-dividend date is Friday, December 1st. Principal Financial Group’s payout ratio is 30.82%.

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

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