Envestnet Asset Management Inc. lowered its stake in Principal Financial Group Inc (NYSE:PFG) by 10.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,062 shares of the company’s stock after selling 962 shares during the period. Envestnet Asset Management Inc.’s holdings in Principal Financial Group were worth $466,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Capital Management Corp VA boosted its stake in Principal Financial Group by 0.9% in the third quarter. Capital Management Corp VA now owns 191,031 shares of the company’s stock valued at $9,840,000 after buying an additional 1,685 shares during the period. Gateway Investment Advisers LLC boosted its stake in Principal Financial Group by 31.1% in the third quarter. Gateway Investment Advisers LLC now owns 397,147 shares of the company’s stock valued at $20,457,000 after buying an additional 94,227 shares during the period. Acadian Asset Management LLC boosted its stake in Principal Financial Group by 184.6% in the third quarter. Acadian Asset Management LLC now owns 15,231 shares of the company’s stock valued at $785,000 after buying an additional 9,880 shares during the period. Meeder Asset Management Inc. bought a new stake in Principal Financial Group during the third quarter valued at approximately $792,000. Finally, CHURCHILL MANAGEMENT Corp bought a new stake in Principal Financial Group during the third quarter valued at approximately $17,907,000. Institutional investors and hedge funds own 68.59% of the company’s stock.
Shares of Principal Financial Group Inc (NYSE:PFG) opened at 63.11 on Tuesday. Principal Financial Group Inc has a 12-month low of $38.03 and a 12-month high of $64.65. The firm has a market cap of $18.14 billion, a price-to-earnings ratio of 14.02 and a beta of 1.64. The firm has a 50-day moving average price of $61.70 and a 200 day moving average price of $56.69.
Principal Financial Group (NYSE:PFG) last issued its earnings results on Monday, January 30th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.15 by $0.12. Principal Financial Group had a return on equity of 12.73% and a net margin of 10.55%. During the same period last year, the business posted $1.02 earnings per share. On average, equities research analysts anticipate that Principal Financial Group Inc will post $4.88 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Monday, March 6th will be given a $0.45 dividend. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, March 2nd. This represents a $1.80 annualized dividend and a dividend yield of 2.85%. Principal Financial Group’s dividend payout ratio (DPR) is presently 38.22%.
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Several equities research analysts have recently commented on the company. Keefe, Bruyette & Woods restated a “hold” rating and set a $64.00 price target on shares of Principal Financial Group in a research note on Tuesday. Citigroup Inc started coverage on Principal Financial Group in a report on Thursday, January 26th. They set a “neutral” rating and a $60.00 price objective on the stock. Zacks Investment Research raised Principal Financial Group from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a report on Wednesday, December 14th. Barclays PLC reaffirmed a “hold” rating and set a $59.00 price objective on shares of Principal Financial Group in a report on Monday, January 9th. Finally, Deutsche Bank AG upped their price objective on Principal Financial Group from $54.00 to $58.00 and gave the stock a “hold” rating in a report on Monday, January 23rd. Three analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. Principal Financial Group currently has an average rating of “Hold” and an average target price of $56.27.
In related news, CFO Deanna D. Strable-Soethout sold 9,885 shares of the firm’s stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $62.70, for a total value of $619,789.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Gary P. Scholten sold 20,900 shares of the firm’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $63.10, for a total value of $1,318,790.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,075 shares of company stock valued at $2,965,750. Insiders own 1.78% of the company’s stock.
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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