National Wealth Management Group LLC Invests $998,000 in Principal Financial Group, Inc. $PFG

National Wealth Management Group LLC acquired a new stake in Principal Financial Group, Inc. (NASDAQ:PFG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,318 shares of the company’s stock, valued at approximately $998,000.

Other hedge funds have also made changes to their positions in the company. Capital Management Corp VA boosted its stake in Principal Financial Group by 19.2% during the third quarter. Capital Management Corp VA now owns 172,736 shares of the company’s stock valued at $14,322,000 after buying an additional 27,857 shares in the last quarter. Nordea Investment Management AB grew its holdings in Principal Financial Group by 160.3% during the third quarter. Nordea Investment Management AB now owns 48,902 shares of the company’s stock worth $3,978,000 after acquiring an additional 30,118 shares during the period. Mediolanum International Funds Ltd raised its position in Principal Financial Group by 41.5% in the third quarter. Mediolanum International Funds Ltd now owns 127,368 shares of the company’s stock worth $10,504,000 after acquiring an additional 37,357 shares in the last quarter. Rakuten Investment Management Inc. bought a new stake in Principal Financial Group in the third quarter worth about $18,526,000. Finally, Capital Fund Management S.A. acquired a new stake in Principal Financial Group in the 2nd quarter valued at about $1,486,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Wall Street Analysts Forecast Growth

PFG has been the subject of several research reports. JPMorgan Chase & Co. restated a “neutral” rating and set a $103.00 price objective on shares of Principal Financial Group in a research report on Monday, January 5th. Bank of America boosted their target price on shares of Principal Financial Group from $95.00 to $96.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Morgan Stanley raised their target price on shares of Principal Financial Group from $93.00 to $95.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 3rd. Weiss Ratings upgraded shares of Principal Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. Finally, Barclays reaffirmed an “underweight” rating and issued a $85.00 price target on shares of Principal Financial Group in a report on Thursday, January 8th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $94.11.

Principal Financial Group Trading Up 1.1%

Shares of PFG opened at $88.72 on Thursday. The business’s 50-day moving average price is $91.71 and its 200 day moving average price is $87.08. 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 stock has a market capitalization of $19.24 billion, a P/E ratio of 16.83, a P/E/G ratio of 0.82 and a beta of 0.87. 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 posted its quarterly earnings data on Wednesday, February 18th. The company reported $2.20 EPS for the quarter. Principal Financial Group had a net margin of 7.58% and a return on equity of 16.09%. The company had revenue of $4.58 billion during the quarter.

Principal Financial Group Announces Dividend

The company 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. This represents a $3.20 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Wednesday, March 11th. Principal Financial Group’s dividend payout ratio is 60.72%.

Insider Activity at Principal Financial Group

In related news, CEO Deanna D. Strable-Soethout sold 7,340 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $95.00, for a total value of $697,300.00. Following the completion of the transaction, the chief executive officer owned 136,828 shares of the company’s stock, valued at approximately $12,998,660. This trade represents a 5.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 24,965 shares of company stock valued at $2,352,460. 1.08% of the stock is currently owned by corporate insiders.

Principal Financial Group Profile

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.