Mairs & Power Inc. Has $21.09 Million Holdings in Principal Financial Group, Inc. $PFG

Mairs & Power Inc. reduced its holdings in Principal Financial Group, Inc. (NASDAQ:PFG) by 29.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 254,418 shares of the company’s stock after selling 108,380 shares during the period. Mairs & Power Inc. owned 0.11% of Principal Financial Group worth $21,094,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in PFG. Mercer Global Advisors Inc. ADV raised its stake in Principal Financial Group by 1.8% in the third quarter. Mercer Global Advisors Inc. ADV now owns 16,689 shares of the company’s stock valued at $1,384,000 after buying an additional 288 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Principal Financial Group by 1.2% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 63,065 shares of the company’s stock worth $5,225,000 after acquiring an additional 750 shares during the period. Lido Advisors LLC increased its holdings in shares of Principal Financial Group by 6.7% during the 3rd quarter. Lido Advisors LLC now owns 5,629 shares of the company’s stock worth $467,000 after acquiring an additional 352 shares during the last quarter. Hilltop Holdings Inc. lifted its stake in shares of Principal Financial Group by 3.4% during the 3rd quarter. Hilltop Holdings Inc. now owns 7,018 shares of the company’s stock worth $582,000 after buying an additional 234 shares during the last quarter. Finally, Focus Partners Wealth boosted its holdings in shares of Principal Financial Group by 144.8% during the 3rd quarter. Focus Partners Wealth now owns 186,477 shares of the company’s stock worth $15,461,000 after buying an additional 110,315 shares during the period. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Stock Up 0.7%

NASDAQ PFG opened at $86.45 on Tuesday. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.33. The company has a market cap of $18.75 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 0.80 and a beta of 0.87. The company has a 50 day moving average of $92.25 and a 200-day moving average of $86.81. Principal Financial Group, Inc. has a 1-year low of $68.39 and a 1-year high of $97.88.

Principal Financial Group (NASDAQ:PFG) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $2.20 earnings per share (EPS) for the quarter. The business had revenue of $4.58 billion for the quarter. Principal Financial Group had a return on equity of 16.09% and a net margin of 7.58%.

Principal Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Wednesday, March 11th will be given a $0.80 dividend. The ex-dividend date is Wednesday, March 11th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.7%. Principal Financial Group’s dividend payout ratio (DPR) is presently 60.72%.

Analyst Ratings Changes

PFG has been the topic of a number of research reports. UBS Group upped their price target on shares of Principal Financial Group from $88.00 to $92.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th. Wells Fargo & Company upgraded Principal Financial Group from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $85.00 to $91.00 in a research note on Wednesday, February 25th. Bank of America upped their price objective on Principal Financial Group from $95.00 to $96.00 and gave the company a “neutral” rating in a report on Tuesday, February 10th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $103.00 price objective on shares of Principal Financial Group in a research report on Monday, January 5th. Finally, Morgan Stanley lifted their target price on Principal Financial Group from $93.00 to $95.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $94.11.

Insider Buying and Selling

In related news, CEO Deanna D. Strable-Soethout sold 9,300 shares of the company’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $95.12, for a total transaction of $884,616.00. Following the completion of the sale, the chief executive officer owned 144,168 shares of the company’s stock, valued at $13,713,260.16. This represents a 6.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 24,965 shares of company stock valued at $2,352,460 over the last three months. 1.08% of the stock is owned by insiders.

About Principal Financial Group

Principal Financial Group (NASDAQ: PFG) is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm’s business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal’s product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.