Interval Partners LP Has $11.64 Million Holdings in Principal Financial Group, Inc. $PFG

Interval Partners LP cut its holdings in shares of Principal Financial Group, Inc. (NASDAQ:PFG) by 20.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 140,422 shares of the company’s stock after selling 36,884 shares during the period. Interval Partners LP owned approximately 0.06% of Principal Financial Group worth $11,642,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Integrated Wealth Concepts LLC bought a new position in shares of Principal Financial Group during the first quarter worth about $244,000. NewEdge Advisors LLC boosted its position in Principal Financial Group by 24.1% during the 1st quarter. NewEdge Advisors LLC now owns 7,503 shares of the company’s stock worth $633,000 after acquiring an additional 1,455 shares during the last quarter. Empowered Funds LLC boosted its position in Principal Financial Group by 11.9% during the 1st quarter. Empowered Funds LLC now owns 4,678 shares of the company’s stock worth $395,000 after acquiring an additional 497 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Principal Financial Group by 26.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 62,047 shares of the company’s stock worth $4,928,000 after acquiring an additional 12,864 shares in the last quarter. Finally, Allworth Financial LP grew its stake in shares of Principal Financial Group by 4.6% during the 2nd quarter. Allworth Financial LP now owns 8,299 shares of the company’s stock worth $659,000 after acquiring an additional 362 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Price Performance

Shares of PFG opened at $85.83 on Friday. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.33. The company’s fifty day simple moving average is $92.33 and its 200 day simple moving average is $86.68. Principal Financial Group, Inc. has a 1-year low of $68.39 and a 1-year high of $97.88. The company has a market cap of $18.61 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 0.80 and a beta of 0.87.

Principal Financial Group (NASDAQ:PFG) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $2.20 EPS for the quarter. Principal Financial Group had a net margin of 7.58% and a return on equity of 16.09%. The firm had revenue of $4.58 billion during the quarter.

Principal Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Wednesday, March 11th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 3.7%. The ex-dividend date is Wednesday, March 11th. Principal Financial Group’s dividend payout ratio (DPR) is 60.72%.

Insider Buying and Selling

In related news, CEO Deanna D. Strable-Soethout sold 9,300 shares of Principal Financial Group stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $95.12, for a total transaction of $884,616.00. Following the completion of the transaction, the chief executive officer owned 144,168 shares in the company, valued at approximately $13,713,260.16. This trade represents a 6.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 24,965 shares of company stock worth $2,352,460 in the last three months. Company insiders own 1.08% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Bank of America boosted their price objective on shares of Principal Financial Group from $95.00 to $96.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. Barclays reaffirmed an “underweight” rating and issued a $85.00 target price on shares of Principal Financial Group in a research report on Thursday, January 8th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $103.00 price target on shares of Principal Financial Group in a research report on Monday, January 5th. Weiss Ratings upgraded shares of Principal Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. Finally, Wells Fargo & Company upgraded Principal Financial Group from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $85.00 to $91.00 in a report on Wednesday, February 25th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Principal Financial Group presently has an average rating of “Hold” and a consensus target price of $94.11.

Principal Financial Group 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.