Traders Buy Principal Financial Group (PFG) on Weakness

Traders purchased shares of Principal Financial Group Inc (NYSE:PFG) on weakness during trading hours on Tuesday. $57.59 million flowed into the stock on the tick-up and $19.47 million flowed out of the stock on the tick-down, for a money net flow of $38.12 million into the stock. Of all stocks tracked, Principal Financial Group had the 10th highest net in-flow for the day. Principal Financial Group traded down ($0.81) for the day and closed at $60.25

Several equities analysts recently commented on the company. Morgan Stanley dropped their target price on Principal Financial Group from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Thursday, April 5th. Wells Fargo set a $68.00 target price on Principal Financial Group and gave the company a “hold” rating in a report on Tuesday, April 3rd. Bank of America assumed coverage on Principal Financial Group in a report on Monday, March 26th. They issued a “neutral” rating and a $65.00 target price on the stock. Zacks Investment Research lowered Principal Financial Group from a “hold” rating to a “sell” rating in a report on Monday, March 12th. Finally, UBS assumed coverage on Principal Financial Group in a report on Friday, March 2nd. They issued a “neutral” rating and a $69.00 target price on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $71.45.

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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 (NYSE:PFG) last issued its quarterly earnings data 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). The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Principal Financial Group had a return on equity of 13.55% and a net margin of 12.35%. During the same period in the previous year, the business posted $1.27 EPS. sell-side analysts anticipate that Principal Financial Group Inc will post 5.22 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Monday, March 5th were issued a dividend of $0.51 per share. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.49. The ex-dividend date was Friday, March 2nd. This represents a $2.04 annualized dividend and a dividend yield of 3.35%.

In other Principal Financial Group news, insider Luis E. Valdes sold 27,662 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $64.02, for a total transaction of $1,770,921.24. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.50% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in shares of Principal Financial Group by 8.4% during the fourth quarter. Geode Capital Management LLC now owns 3,054,197 shares of the financial services provider’s stock worth $215,072,000 after buying an additional 236,694 shares during the last quarter. Old Mutual Global Investors UK Ltd. grew its holdings in shares of Principal Financial Group by 36.6% during the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 1,612,510 shares of the financial services provider’s stock worth $113,778,000 after buying an additional 431,914 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Principal Financial Group by 5.4% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,384,166 shares of the financial services provider’s stock worth $97,667,000 after buying an additional 71,076 shares during the last quarter. UBS Asset Management Americas Inc. grew its holdings in shares of Principal Financial Group by 11.7% during the fourth quarter. UBS Asset Management Americas Inc. now owns 1,040,101 shares of the financial services provider’s stock worth $73,390,000 after buying an additional 108,797 shares during the last quarter. Finally, Teachers Advisors LLC grew its holdings in shares of Principal Financial Group by 0.4% during the fourth quarter. Teachers Advisors LLC now owns 955,926 shares of the financial services provider’s stock worth $67,450,000 after buying an additional 3,761 shares during the last quarter. 68.64% of the stock is currently owned by hedge funds and other institutional investors.

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About Principal Financial Group

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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