Schroder Investment Management Group boosted its position in Principal Financial Group Inc (NYSE:PFG) by 17.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,807,710 shares of the financial services provider’s stock after purchasing an additional 262,065 shares during the period. Schroder Investment Management Group owned about 0.63% of Principal Financial Group worth $115,693,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of PFG. Vanguard Group Inc. increased its stake in Principal Financial Group by 2.0% in the second quarter. Vanguard Group Inc. now owns 30,237,096 shares of the financial services provider’s stock valued at $1,937,291,000 after acquiring an additional 587,221 shares during the last quarter. BlackRock Inc. grew its position in Principal Financial Group by 3.3% in the 2nd quarter. BlackRock Inc. now owns 18,306,790 shares of the financial services provider’s stock worth $1,172,916,000 after purchasing an additional 592,172 shares in the last quarter. Janus Henderson Group PLC grew its position in Principal Financial Group by 6,656.1% in the 2nd quarter. Janus Henderson Group PLC now owns 3,020,597 shares of the financial services provider’s stock worth $193,529,000 after purchasing an additional 2,975,888 shares in the last quarter. Legal & General Group Plc grew its position in Principal Financial Group by 2.1% in the 3rd quarter. Legal & General Group Plc now owns 1,506,176 shares of the financial services provider’s stock worth $96,908,000 after purchasing an additional 31,107 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in Principal Financial Group by 4.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,281,046 shares of the financial services provider’s stock worth $82,077,000 after purchasing an additional 55,966 shares in the last quarter. Institutional investors and hedge funds own 68.81% of the company’s stock.
Shares of Principal Financial Group Inc (NYSE PFG) traded up $0.14 during mid-day trading on Thursday, hitting $70.82. 945,700 shares of the stock were exchanged, compared to its average volume of 1,112,263. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.10 and a quick ratio of 0.10. The company 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. Principal Financial Group Inc has a 52-week low of $56.12 and a 52-week high of $72.23.
Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Thursday, October 26th. The financial services provider reported $1.28 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.02). The firm had revenue of $3.95 billion for the quarter, compared to analysts’ expectations 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 period in the prior year, the firm earned $1.15 EPS. sell-side analysts forecast that Principal Financial Group Inc will post 5.22 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Monday, December 4th will be paid a dividend of $0.49 per share. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.47. The ex-dividend date is Friday, December 1st. This represents a $1.96 dividend on an annualized basis and a yield of 2.77%. Principal Financial Group’s dividend payout ratio is presently 32.13%.
In other news, EVP Karen E. Shaff sold 50,561 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $69.51, for a total value of $3,514,495.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Nora Mary Everett sold 12,398 shares of the company’s stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $68.00, for a total transaction of $843,064.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 197,606 shares of company stock worth $13,630,935. 1.50% of the stock is owned by insiders.
A number of research firms have recently weighed in on PFG. Royal Bank Of Canada reissued a “buy” rating and set a $74.00 target price on shares of Principal Financial Group in a research report on Wednesday, September 6th. BidaskClub lowered shares of Principal Financial Group from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Zacks Investment Research lowered shares of Principal Financial Group from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Barclays increased their target price on shares of Principal Financial Group from $61.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, August 11th. Finally, Morgan Stanley raised their target price on shares of Principal Financial Group from $67.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. Principal Financial Group currently has a consensus rating of “Hold” and a consensus price target of $67.40.
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Principal Financial Group Company 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.
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