Principal Financial Group, Inc. $PFG Shares Sold by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC lessened its holdings in Principal Financial Group, Inc. (NASDAQ:PFG) by 44.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,728 shares of the company’s stock after selling 8,639 shares during the period. Greenwood Capital Associates LLC’s holdings in Principal Financial Group were worth $967,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Unison Advisors LLC raised its holdings in Principal Financial Group by 0.9% in the 1st quarter. Unison Advisors LLC now owns 61,778 shares of the company’s stock worth $5,567,000 after purchasing an additional 535 shares during the period. DGS Capital Management LLC grew its holdings in Principal Financial Group by 4.1% in the first quarter. DGS Capital Management LLC now owns 4,425 shares of the company’s stock valued at $399,000 after purchasing an additional 173 shares during the period. Ascentis Independent Advisors acquired a new stake in Principal Financial Group in the first quarter valued at approximately $61,000. Raleigh Capital Management Inc. purchased a new stake in shares of Principal Financial Group in the first quarter valued at approximately $703,000. Finally, V Square Quantitative Management LLC increased its position in shares of Principal Financial Group by 6.7% in the first quarter. V Square Quantitative Management LLC now owns 20,799 shares of the company’s stock valued at $1,874,000 after buying an additional 1,301 shares in the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Stock Up 0.8%

NASDAQ PFG opened at $111.67 on Friday. The business has a fifty day moving average price of $105.75 and a 200 day moving average price of $96.71. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.27 and a current ratio of 0.27. The company has a market cap of $24.12 billion, a P/E ratio of 15.98, a P/E/G ratio of 1.11 and a beta of 0.88. Principal Financial Group, Inc. has a one year low of $75.00 and a one year high of $113.86.

Principal Financial Group (NASDAQ:PFG) last announced its earnings results on Wednesday, April 29th. The company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.06. The company had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $4.11 billion. Principal Financial Group had a net margin of 10.10% and a return on equity of 16.25%. During the same quarter in the previous year, the company posted $1.81 EPS. Research analysts anticipate that Principal Financial Group, Inc. will post 9.37 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Monday, June 1st were issued a $0.82 dividend. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.80. This represents a $3.28 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, June 1st. Principal Financial Group’s payout ratio is 46.92%.

Insider Buying and Selling at Principal Financial Group

In other news, insider Wee Yee Cheong sold 9,183 shares of Principal Financial Group stock in a transaction on Friday, May 1st. The stock was sold at an average price of $101.26, for a total transaction of $929,870.58. Following the transaction, the insider owned 77,188 shares in the company, valued at $7,816,056.88. The trade was a 10.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel George Djurasovic sold 2,571 shares of Principal Financial Group stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $100.83, for a total transaction of $259,233.93. Following the transaction, the general counsel directly owned 21,906 shares in the company, valued at $2,208,781.98. This trade represents a 10.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 28,317 shares of company stock worth $2,884,902. Insiders own 1.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PFG shares. Weiss Ratings downgraded Principal Financial Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 1st. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $92.00 price target on shares of Principal Financial Group in a research note on Thursday, March 26th. Evercore set a $108.00 price target on shares of Principal Financial Group in a report on Monday, April 27th. Bank of America restated an “underperform” rating and set a $95.00 price objective (down from $98.00) on shares of Principal Financial Group in a research report on Wednesday, June 24th. Finally, Raymond James Financial lowered shares of Principal Financial Group from a “strong-buy” rating to an “outperform” rating and lifted their target price for the company from $99.00 to $111.00 in a research report on Tuesday, May 19th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Principal Financial Group presently has an average rating of “Hold” and a consensus price target of $104.60.

Principal Financial Group Company Profile

Principal Financial Group (NASDAQ: PFG) is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm’s business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal’s product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.