Tealwood Asset Management Inc. lowered its position in Principal Financial Group Inc (NYSE:PFG) by 2.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 53,007 shares of the financial services provider’s stock after selling 1,483 shares during the period. Tealwood Asset Management Inc.’s holdings in Principal Financial Group were worth $2,660,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. NuWave Investment Management LLC lifted its holdings in Principal Financial Group by 464.4% in the 1st quarter. NuWave Investment Management LLC now owns 570 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 469 shares in the last quarter. Transamerica Financial Advisors Inc. raised its holdings in shares of Principal Financial Group by 644.9% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 797 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 690 shares during the period. Bremer Trust National Association purchased a new position in shares of Principal Financial Group during the 4th quarter worth $41,000. Lindbrook Capital LLC purchased a new position in shares of Principal Financial Group during the 4th quarter worth $42,000. Finally, Pinnacle Bank purchased a new position in shares of Principal Financial Group during the 4th quarter worth $42,000. Institutional investors own 68.64% of the company’s stock.
Shares of NYSE PFG traded down $0.44 during trading on Monday, hitting $54.43. 33,666 shares of the company were exchanged, compared to its average volume of 1,777,876. Principal Financial Group Inc has a 12-month low of $40.42 and a 12-month high of $62.07.
Principal Financial Group (NYSE:PFG) last posted its quarterly earnings results on Tuesday, January 29th. The financial services provider reported $1.11 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.18). The firm had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same quarter in the previous year, the company posted $1.19 EPS.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend was Friday, March 1st.
Several research analysts have recently commented on the company. Zacks Investment Research lowered Principal Financial Group from a “hold” rating to a “sell” rating in a report on Monday, December 31st. TheStreet lowered Principal Financial Group from a “b-” rating to a “c+” rating in a report on Thursday, December 20th. UBS Group lifted their price target on Principal Financial Group from $45.00 to $48.00 and gave the stock a “sell” rating in a report on Tuesday, April 9th. Finally, Goldman Sachs Group lowered Principal Financial Group from a “buy” rating to a “neutral” rating and set a $50.00 price target on the stock. in a report on Tuesday, January 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. Principal Financial Group presently has an average rating of “Hold” and a consensus price target of $57.56.
In related news, EVP Julia M. Lawler sold 1,000 shares of the firm’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $50.17, for a total transaction of $50,170.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Amy Christine Friedrich sold 900 shares of the firm’s stock in a transaction dated Thursday, January 17th. The stock was sold at an average price of $49.00, for a total value of $44,100.00. The disclosure for this sale can be found here. Insiders have sold a total of 4,900 shares of company stock valued at $247,390 over the last three months. Corporate insiders own 1.50% of the company’s stock.
Principal Financial Group Profile
Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.
Further Reading: Marijuana Stocks Investing Considerations
Want to see what other hedge funds are holding PFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Principal Financial Group Inc (NYSE:PFG).
Receive News & Ratings for Principal Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Principal Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.