Principal Financial Group Inc (PFG) Shares Bought by Bessemer Group Inc.

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Bessemer Group Inc. raised its holdings in Principal Financial Group Inc (NYSE:PFG) by 34.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,637 shares of the financial services provider’s stock after purchasing an additional 1,186 shares during the period. Bessemer Group Inc.’s holdings in Principal Financial Group were worth $205,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PFG. Bank of New York Mellon Corp grew its holdings in Principal Financial Group by 1,897,023.1% in the third quarter. Bank of New York Mellon Corp now owns 6,981,413 shares of the financial services provider’s stock valued at $409,041,000 after purchasing an additional 6,981,045 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in Principal Financial Group by 9,050.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,676,349 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 2,647,101 shares during the period. Capital World Investors acquired a new stake in Principal Financial Group in the third quarter valued at approximately $141,260,000. Schroder Investment Management Group grew its holdings in Principal Financial Group by 37.8% in the third quarter. Schroder Investment Management Group now owns 2,088,392 shares of the financial services provider’s stock valued at $122,359,000 after purchasing an additional 573,138 shares during the period. Finally, Bridgeway Capital Management Inc. grew its holdings in Principal Financial Group by 47.3% in the third quarter. Bridgeway Capital Management Inc. now owns 959,400 shares of the financial services provider’s stock valued at $56,211,000 after purchasing an additional 308,200 shares during the period. 68.64% of the stock is currently owned by institutional investors.

In other news, EVP Julia M. Lawler sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $52.38, for a total value of $52,380.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Amy Christine Friedrich sold 900 shares of the firm’s stock in a transaction that occurred on Thursday, January 17th. The shares were sold at an average price of $49.00, for a total value of $44,100.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,900 shares of company stock worth $196,650. Company insiders own 1.50% of the company’s stock.

Several analysts have commented on the company. Zacks Investment Research lowered Principal Financial Group from a “hold” rating to a “sell” rating in a report on Monday, December 31st. TheStreet raised Principal Financial Group from a “c+” rating to a “b-” rating in a report on Monday, January 28th. Royal Bank of Canada lowered Principal Financial Group from an “outperform” rating to a “sector perform” rating and set a $49.00 price objective on the stock. in a report on Tuesday, December 11th. UBS Group lowered Principal Financial Group from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $46.00 to $45.00 in a report on Tuesday, February 5th. Finally, Goldman Sachs Group lowered Principal Financial Group from a “buy” rating to a “neutral” rating and set a $50.00 price objective on the stock. in a report on Tuesday, January 8th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $58.60.

NYSE PFG opened at $51.43 on Friday. Principal Financial Group Inc has a 1-year low of $40.42 and a 1-year high of $62.87.

Principal Financial Group (NYSE:PFG) last released its earnings results on Tuesday, January 29th. The financial services provider reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.18). The firm had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same quarter in the previous year, the business posted $1.19 EPS.

Principal Financial Group declared that its board has authorized a stock repurchase plan on Tuesday, November 27th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Monday, March 4th will be given a $0.54 dividend. The ex-dividend date is Friday, March 1st. This represents a $2.16 annualized dividend and a dividend yield of 4.20%.

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Principal Financial Group Company Profile

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company 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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