Principal Financial Group Inc (PFG) Position Increased by Aperio Group LLC
Aperio Group LLC increased its position in shares of Principal Financial Group Inc (NYSE:PFG) by 7.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 196,045 shares of the financial services provider’s stock after buying an additional 13,902 shares during the period. Aperio Group LLC owned about 0.07% of Principal Financial Group worth $12,561,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. CENTRAL TRUST Co raised its position in Principal Financial Group by 2.4% in the first quarter. CENTRAL TRUST Co now owns 2,176 shares of the financial services provider’s stock worth $137,000 after buying an additional 52 shares during the last quarter. Jacobi Capital Management LLC raised its position in Principal Financial Group by 291.1% in the first quarter. Jacobi Capital Management LLC now owns 2,691 shares of the financial services provider’s stock worth $167,000 after buying an additional 2,003 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in Principal Financial Group during the first quarter worth $202,000. Blair William & Co. IL bought a new position in Principal Financial Group during the first quarter worth $205,000. Finally, Washington Trust Bank raised its position in Principal Financial Group by 29.3% in the first quarter. Washington Trust Bank now owns 3,336 shares of the financial services provider’s stock worth $211,000 after buying an additional 755 shares during the last quarter. 70.58% of the stock is owned by institutional investors and hedge funds.
Shares of Principal Financial Group Inc (NYSE:PFG) opened at 66.42 on Friday. The stock’s 50 day moving average price is $64.62 and its 200-day moving average price is $62.53. The company has a market cap of $19.14 billion, a P/E ratio of 14.96 and a beta of 1.65. Principal Financial Group Inc has a 12 month low of $44.23 and a 12 month high of $66.95.
Principal Financial Group (NYSE:PFG) last released its earnings results on Thursday, April 27th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.08. Principal Financial Group had a return on equity of 13.35% and a net margin of 10.37%. The firm had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter last year, the business posted $0.97 earnings per share. Equities research analysts expect that Principal Financial Group Inc will post $5.06 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Monday, June 5th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Thursday, June 1st. This represents a $1.84 annualized dividend and a dividend yield of 2.77%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.45. Principal Financial Group’s dividend payout ratio (DPR) is currently 41.44%.
Principal Financial Group declared that its board has authorized a stock repurchase plan on Wednesday, May 17th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the financial services provider to buy up to 1.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
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PFG has been the subject of a number of recent analyst reports. Zacks Investment Research raised Principal Financial Group from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a report on Monday, April 10th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Principal Financial Group in a report on Thursday, June 29th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $73.00 target price on shares of Principal Financial Group in a report on Wednesday, July 12th. BidaskClub raised Principal Financial Group from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Finally, Deutsche Bank AG lifted their target price on Principal Financial Group from $60.00 to $62.00 and gave the company a “hold” rating in a report on Wednesday, April 19th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $59.70.
In related news, CFO Deanna D. Strable-Soethout sold 23,745 shares of the stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $65.00, for a total transaction of $1,543,425.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Karen E. Shaff sold 30,500 shares of the stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $65.00, for a total value of $1,982,500.00. The disclosure for this sale can be found here. Insiders have sold 344,801 shares of company stock valued at $22,229,762 in the last quarter. 1.50% of the stock is currently owned by company insiders.
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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