Catalyst Capital Advisors LLC Cuts Stake in Principal Financial Group Inc (NYSE:PFG)

Catalyst Capital Advisors LLC lowered its stake in Principal Financial Group Inc (NYSE:PFG) by 59.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,175 shares of the financial services provider’s stock after selling 14,800 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Principal Financial Group were worth $654,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sun Life Financial INC grew its stake in Principal Financial Group by 21,822.2% during the 2nd quarter. Sun Life Financial INC now owns 1,973 shares of the financial services provider’s stock valued at $126,000 after acquiring an additional 1,964 shares in the last quarter. Eagle Global Advisors LLC purchased a new position in Principal Financial Group during the 2nd quarter valued at about $207,000. Koch Industries Inc. purchased a new position in Principal Financial Group during the 2nd quarter valued at about $210,000. Honkamp Krueger Financial Services Inc. purchased a new position in Principal Financial Group during the 3rd quarter valued at about $226,000. Finally, Foster & Motley Inc. grew its stake in Principal Financial Group by 9.3% during the 2nd quarter. Foster & Motley Inc. now owns 4,014 shares of the financial services provider’s stock valued at $257,000 after acquiring an additional 340 shares in the last quarter. 68.81% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Principal Financial Group Inc (PFG) traded up $0.17 during mid-day trading on Thursday, hitting $70.99. The stock had a trading volume of 984,204 shares, compared to its average volume of 1,111,721. Principal Financial Group Inc has a one year low of $56.12 and a one year high of $72.23. The firm has a market capitalization of $20,409.18, a price-to-earnings ratio of 13.78, a PEG ratio of 1.35 and a beta of 1.71. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.26.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Thursday, October 26th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.02). The firm had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.12 billion. Principal Financial Group had a net margin of 12.35% and a return on equity of 13.55%. During the same quarter in the prior year, the firm posted $1.15 earnings per share. equities analysts expect that Principal Financial Group Inc will post 5.22 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Monday, December 4th will be given a dividend of $0.49 per share. The ex-dividend date is Friday, December 1st. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.47. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.76%. Principal Financial Group’s payout ratio is currently 32.13%.

Several equities analysts have weighed in on PFG shares. Royal Bank Of Canada reaffirmed a “buy” rating and set a $74.00 target price on shares of Principal Financial Group in a research note on Wednesday, September 6th. Wells Fargo & Company set a $76.00 price target on Principal Financial Group and gave the company a “buy” rating in a report on Wednesday, October 18th. Barclays lifted their price target on Principal Financial Group from $61.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, August 11th. Morgan Stanley lifted their price target on Principal Financial Group from $67.00 to $72.00 and gave the company an “equal weight” rating in a report on Thursday, October 5th. Finally, Zacks Investment Research upgraded Principal Financial Group from a “sell” rating to a “hold” rating and set a $73.00 price target for the company in a report on Monday, October 2nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $67.40.

In other Principal Financial Group news, insider Nora Mary Everett sold 12,398 shares of the company’s stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $68.00, for a total value of $843,064.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Karen E. Shaff sold 50,561 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $69.51, for a total value of $3,514,495.11. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 197,606 shares of company stock worth $13,630,935. 1.50% of the stock is currently owned by company insiders.

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Principal Financial Group Profile

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.

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

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