Principal Financial Group Inc (PFG) Stake Decreased by Iowa State Bank

Iowa State Bank cut its stake in shares of Principal Financial Group Inc (NYSE:PFG) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,171 shares of the financial services provider’s stock after selling 853 shares during the quarter. Principal Financial Group comprises approximately 3.0% of Iowa State Bank’s investment portfolio, making the stock its 5th biggest holding. Iowa State Bank’s holdings in Principal Financial Group were worth $6,645,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Girard Partners LTD. boosted its holdings in Principal Financial Group by 18.5% in the fourth quarter. Girard Partners LTD. now owns 10,032 shares of the financial services provider’s stock valued at $708,000 after purchasing an additional 1,567 shares during the last quarter. First Business Financial Services Inc. boosted its holdings in Principal Financial Group by 16.5% in the fourth quarter. First Business Financial Services Inc. now owns 10,775 shares of the financial services provider’s stock valued at $760,000 after purchasing an additional 1,525 shares during the last quarter. Affinity Investment Advisors LLC boosted its holdings in Principal Financial Group by 12.9% in the fourth quarter. Affinity Investment Advisors LLC now owns 31,690 shares of the financial services provider’s stock valued at $2,236,000 after purchasing an additional 3,610 shares during the last quarter. Goelzer Investment Management Inc. boosted its stake in shares of Principal Financial Group by 0.5% during the 4th quarter. Goelzer Investment Management Inc. now owns 184,495 shares of the financial services provider’s stock worth $13,018,000 after acquiring an additional 957 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in shares of Principal Financial Group by 162.6% during the 4th quarter. Teacher Retirement System of Texas now owns 151,007 shares of the financial services provider’s stock worth $10,655,000 after acquiring an additional 93,492 shares in the last quarter. 68.64% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP Gary P. Scholten sold 24,310 shares of the company’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $71.59, for a total transaction of $1,740,352.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Timothy Mark Dunbar sold 16,400 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $70.23, for a total transaction of $1,151,772.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 301,958 shares of company stock valued at $21,343,156. Insiders own 1.50% of the company’s stock.

Shares of Principal Financial Group Inc (PFG) opened at $61.39 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.10 and a current ratio of 0.10. Principal Financial Group Inc has a 12 month low of $59.25 and a 12 month high of $75.58. The stock has a market cap of $18,020.00, a PE ratio of 7.79, a PEG ratio of 1.35 and a beta of 1.58.

Principal Financial Group (NYSE:PFG) last posted its earnings results on Monday, January 29th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.18). Principal Financial Group had a return on equity of 13.55% and a net margin of 12.35%. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.32 billion. During the same period in the previous year, the company earned $1.27 earnings per share. research analysts predict that Principal Financial Group Inc will post 5.22 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Monday, March 5th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Friday, March 2nd. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.49. Principal Financial Group’s dividend payout ratio is 24.87%.

PFG has been the topic of several recent analyst reports. Goldman Sachs Group initiated coverage on shares of Principal Financial Group in a research note on Wednesday, October 18th. They set a “neutral” rating and a $70.00 target price on the stock. Wells Fargo & Co set a $76.00 target price on shares of Principal Financial Group and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Zacks Investment Research lowered shares of Principal Financial Group from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $73.00 target price on shares of Principal Financial Group in a research note on Monday, December 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $72.56.

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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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