Montag A & Associates Inc. Decreases Holdings in Principal Financial Group Inc (PFG)

Montag A & Associates Inc. lessened its holdings in Principal Financial Group Inc (NYSE:PFG) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,890 shares of the financial services provider’s stock after selling 1,100 shares during the quarter. Montag A & Associates Inc.’s holdings in Principal Financial Group were worth $2,321,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PFG. American Century Companies Inc. boosted its holdings in Principal Financial Group by 14,739.8% in the fourth quarter. American Century Companies Inc. now owns 836,964 shares of the financial services provider’s stock worth $59,056,000 after purchasing an additional 831,324 shares during the period. Old Mutual Global Investors UK Ltd. boosted its holdings in Principal Financial Group by 104.5% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 1,180,596 shares of the financial services provider’s stock worth $75,959,000 after purchasing an additional 603,342 shares during the period. Allianz Asset Management GmbH boosted its holdings in Principal Financial Group by 29.4% in the third quarter. Allianz Asset Management GmbH now owns 1,607,888 shares of the financial services provider’s stock worth $103,451,000 after purchasing an additional 365,068 shares during the period. Schroder Investment Management Group boosted its holdings in Principal Financial Group by 17.0% in the third quarter. Schroder Investment Management Group now owns 1,807,710 shares of the financial services provider’s stock worth $115,693,000 after purchasing an additional 262,065 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in Principal Financial Group by 286.2% in the third quarter. Canada Pension Plan Investment Board now owns 351,435 shares of the financial services provider’s stock worth $22,611,000 after purchasing an additional 260,444 shares during the period. 68.64% of the stock is owned by hedge funds and other institutional investors.

In related news, EVP Gary P. Scholten sold 24,310 shares of Principal Financial Group 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Daniel Joseph Houston sold 19,856 shares of Principal Financial Group stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $72.02, for a total transaction of $1,430,029.12. The disclosure for this sale can be found here. Insiders sold 301,958 shares of company stock worth $21,343,156 over the last quarter. 1.50% of the stock is currently owned by company insiders.

Shares of Principal Financial Group Inc (PFG) opened at $63.05 on Friday. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $18,150.00, a price-to-earnings ratio of 8.00, a price-to-earnings-growth ratio of 1.35 and a beta of 1.58. Principal Financial Group Inc has a one year low of $59.25 and a one year high of $75.58.

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 analysts’ consensus estimates of $1.37 by ($0.18). The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.32 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 previous year, the business posted $1.27 earnings per share. equities research analysts anticipate that Principal Financial Group Inc will post 5.22 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Monday, March 5th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 3.24%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 2nd. Principal Financial Group’s dividend payout ratio (DPR) is presently 24.87%.

A number of research firms have commented on PFG. Barclays raised shares of Principal Financial Group from an “equal weight” rating to an “overweight” rating and set a $72.00 price objective for the company in a report on Monday, February 12th. JPMorgan Chase & Co. raised shares of Principal Financial Group from an “underweight” rating to a “neutral” rating and set a $70.00 price objective for the company in a report on Monday, February 12th. Zacks Investment Research downgraded shares of Principal Financial Group from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $76.00 target price on shares of Principal Financial Group in a research note on Wednesday, January 31st. Finally, Morgan Stanley cut their target price on Principal Financial Group from $80.00 to $79.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $73.56.

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

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