QCI Asset Management Inc. NY increased its holdings in shares of Principal Financial Group Inc (NYSE:PFG) by 620.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 756 shares of the financial services provider’s stock after purchasing an additional 651 shares during the period. QCI Asset Management Inc. NY’s holdings in Principal Financial Group were worth $44,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in PFG. Geode Capital Management LLC lifted its holdings in shares of Principal Financial Group by 15.3% during 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 purchasing an additional 550,835 shares in the last quarter. First Allied Advisory Services Inc. bought a new stake in Principal Financial Group in the 1st quarter valued at approximately $241,000. Cetera Advisor Networks LLC bought a new stake in Principal Financial Group in the 1st quarter valued at approximately $200,000. Raymond James & Associates lifted its stake in Principal Financial Group by 6.1% in the 1st quarter. Raymond James & Associates now owns 51,175 shares of the financial services provider’s stock valued at $2,568,000 after acquiring an additional 2,926 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Principal Financial Group by 5.4% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,132 shares of the financial services provider’s stock valued at $759,000 after acquiring an additional 771 shares in the last quarter. Institutional investors and hedge funds own 68.64% of the company’s stock.
Shares of NYSE:PFG traded down $0.07 during trading on Wednesday, hitting $57.10. 3,870 shares of the company were exchanged, compared to its average volume of 1,454,837. Principal Financial Group Inc has a fifty-two week low of $40.42 and a fifty-two week high of $61.12. The firm has a fifty day moving average price of $54.59 and a two-hundred day moving average price of $54.89.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, September 5th will be given a dividend of $0.55 per share. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $2.20 annualized dividend and a dividend yield of 3.85%.
Several equities research analysts have commented on the company. Barclays set a $66.00 target price on Principal Financial Group and gave the company a “buy” rating in a research note on Monday, August 12th. Morgan Stanley cut their target price on Principal Financial Group from $59.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 20th. Finally, Zacks Investment Research upgraded Principal Financial Group from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a research note on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Principal Financial Group has a consensus rating of “Hold” and an average price target of $57.29.
In other Principal Financial Group news, EVP Julia M. Lawler sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $52.95, for a total transaction of $52,950.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Luis E. Valdes sold 11,829 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $59.54, for a total value 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 $3,622,389 in the last ninety days. Insiders own 1.50% of the company’s stock.
Principal Financial Group 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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