Strs Ohio Has $1.04 Million Stake in Principal Financial Group Inc (NYSE:PFG)

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Strs Ohio boosted its holdings in Principal Financial Group Inc (NYSE:PFG) by 390.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,035 shares of the financial services provider’s stock after purchasing an additional 14,357 shares during the quarter. Strs Ohio’s holdings in Principal Financial Group were worth $1,044,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PFG. Comerica Securities Inc. bought a new position in Principal Financial Group in the 4th quarter valued at about $2,374,000. Dimensional Fund Advisors LP increased its holdings in Principal Financial Group by 7.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,963,240 shares of the financial services provider’s stock valued at $175,047,000 after buying an additional 264,669 shares during the period. Geode Capital Management LLC increased its holdings in Principal Financial Group by 15.3% in the 4th quarter. Geode Capital Management LLC now owns 4,149,598 shares of the financial services provider’s stock valued at $183,017,000 after buying an additional 550,835 shares during the period. Principal Financial Group Inc. bought a new position in Principal Financial Group in the 4th quarter valued at about $4,146,000. Finally, Valeo Financial Advisors LLC increased its holdings in Principal Financial Group by 247.9% in the 1st quarter. Valeo Financial Advisors LLC now owns 1,684 shares of the financial services provider’s stock valued at $85,000 after buying an additional 1,200 shares during the period. Institutional investors and hedge funds own 68.64% of the company’s stock.

Several equities analysts have commented on the stock. Royal Bank of Canada raised their target price on shares of Principal Financial Group to $55.00 and gave the company a “market perform” rating in a report on Monday, April 29th. Morgan Stanley raised their target price on shares of Principal Financial Group from $58.00 to $59.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. UBS Group decreased their target price on shares of Principal Financial Group from $51.00 to $50.00 and set a “sell” rating on the stock in a report on Tuesday, May 7th. Finally, Zacks Investment Research raised shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $56.14.

Shares of Principal Financial Group stock opened at $54.06 on Wednesday. The firm’s 50 day moving average is $57.74. Principal Financial Group Inc has a 1 year low of $40.42 and a 1 year high of $61.12.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.12. The company had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same period last year, the firm posted $1.35 earnings per share.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Thursday, September 5th will be issued a dividend of $0.55 per share. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.54. This represents a $2.20 annualized dividend and a dividend yield of 4.07%.

In related news, EVP Julia M. Lawler sold 1,000 shares of Principal Financial Group stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $51.50, for a total transaction of $51,500.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Luis E. Valdes sold 11,829 shares of Principal Financial Group stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $59.54, for a total transaction of $704,298.66. The disclosure for this sale can be found here. Insiders have sold a total of 62,490 shares of company stock worth $3,620,939 over the last ninety days. 1.50% of the stock is currently owned by insiders.

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.

Further Reading: What is meant by buying and selling pressure?

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

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