Icon Advisers Inc. Co. Increases Position in Principal Financial Group Inc (PFG)

Icon Advisers Inc. Co. boosted its stake in Principal Financial Group Inc (NYSE:PFG) by 28.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 37,053 shares of the financial services provider’s stock after buying an additional 8,253 shares during the period. Icon Advisers Inc. Co.’s holdings in Principal Financial Group were worth $2,171,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. grew its position in shares of Principal Financial Group by 0.5% during the 2nd quarter. BlackRock Inc. now owns 19,878,914 shares of the financial services provider’s stock worth $1,052,588,000 after purchasing an additional 102,234 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Principal Financial Group by 2.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,688,015 shares of the financial services provider’s stock worth $89,381,000 after purchasing an additional 45,100 shares in the last quarter. Schroder Investment Management Group grew its position in shares of Principal Financial Group by 10.1% during the 2nd quarter. Schroder Investment Management Group now owns 1,515,254 shares of the financial services provider’s stock worth $80,263,000 after purchasing an additional 138,878 shares in the last quarter. First Trust Advisors LP grew its position in shares of Principal Financial Group by 86.0% during the 3rd quarter. First Trust Advisors LP now owns 1,299,262 shares of the financial services provider’s stock worth $76,124,000 after purchasing an additional 600,798 shares in the last quarter. Finally, Morgan Stanley grew its position in shares of Principal Financial Group by 41.3% during the 2nd quarter. Morgan Stanley now owns 1,253,735 shares of the financial services provider’s stock worth $66,386,000 after purchasing an additional 366,362 shares in the last quarter. Institutional investors and hedge funds own 68.64% of the company’s stock.

In other news, insider Amy Christine Friedrich sold 1,700 shares of the company’s stock in a transaction that occurred on Friday, October 5th. The shares were sold at an average price of $61.00, for a total transaction of $103,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel Gelatt purchased 25,000 shares of the business’s stock in a transaction dated Monday, November 5th. The shares were purchased at an average cost of $48.10 per share, with a total value of $1,202,500.00. Following the acquisition, the director now owns 138,694 shares in the company, valued at approximately $6,671,181.40. The disclosure for this purchase can be found here. Corporate insiders own 1.50% of the company’s stock.

Shares of Principal Financial Group stock opened at $49.41 on Thursday. Principal Financial Group Inc has a 1-year low of $45.20 and a 1-year high of $75.58.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Thursday, October 25th. The financial services provider reported $1.67 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.67. The firm had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $3.86 billion.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Monday, December 3rd will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date is Friday, November 30th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.53.

A number of research analysts have issued reports on the stock. UBS Group increased their target price on shares of Principal Financial Group from $57.00 to $59.00 and gave the stock a “neutral” rating in a research report on Monday, October 8th. Zacks Investment Research upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Wednesday, September 26th. Credit Suisse Group decreased their target price on shares of Principal Financial Group from $62.00 to $56.00 and set a “neutral” rating on the stock in a research report on Friday, August 17th. Morgan Stanley decreased their target price on shares of Principal Financial Group from $70.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 11th. Finally, Deutsche Bank assumed coverage on shares of Principal Financial Group in a research report on Tuesday, October 16th. They set a “hold” rating and a $61.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $65.50.

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Principal Financial Group Profile

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. It operates through Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.

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

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