Pinebridge Investments L.P. Has $3.57 Million Holdings in Principal Financial Group Inc (PFG)
Pinebridge Investments L.P. decreased its stake in Principal Financial Group Inc (NYSE:PFG) by 1.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,735 shares of the financial services provider’s stock after selling 612 shares during the quarter. Pinebridge Investments L.P.’s holdings in Principal Financial Group were worth $3,570,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Jacobi Capital Management LLC lifted its stake 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 valued at $167,000 after buying an additional 2,003 shares during the period. Oppenheimer & Co. Inc. acquired a new position in Principal Financial Group in the first quarter valued at about $202,000. Blair William & Co. IL acquired a new position in Principal Financial Group in the first quarter valued at about $205,000. Eagle Global Advisors LLC acquired a new position in Principal Financial Group in the second quarter valued at about $207,000. Finally, Lowe Brockenbrough & Co. Inc. acquired a new position in Principal Financial Group in the first quarter valued at about $211,000. 68.20% of the stock is currently owned by hedge funds and other institutional investors.
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In other news, EVP Karen E. Shaff sold 30,500 shares of the business’s 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Nora Mary Everett sold 14,630 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $64.60, for a total value of $945,098.00. The disclosure for this sale can be found here. Insiders sold a total of 256,218 shares of company stock worth $16,542,380 over the last three months. 1.50% of the stock is owned by company insiders.
Shares of Principal Financial Group Inc (PFG) traded down 0.08% during midday trading on Thursday, hitting $63.07. The company’s stock had a trading volume of 122,702 shares. Principal Financial Group Inc has a 1-year low of $49.04 and a 1-year high of $67.73. The company has a 50-day moving average price of $63.57 and a 200 day moving average price of $63.76. The company has a market cap of $18.22 billion, a P/E ratio of 14.33 and a beta of 1.66.
Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.09. The company had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.16 billion. Principal Financial Group had a return on equity of 13.57% and a net margin of 10.15%. During the same period in the previous year, the business earned $1.15 EPS. On average, equities research analysts predict that Principal Financial Group Inc will post $5.19 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.98%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.46. The ex-dividend date is Wednesday, August 30th. Principal Financial Group’s payout ratio is currently 42.73%.
PFG has been the topic of several analyst reports. Wells Fargo & Company reissued a “buy” rating on shares of Principal Financial Group in a research note on Thursday, June 29th. Barclays PLC increased their target price on Principal Financial Group from $61.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday, August 11th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $68.00 target price on shares of Principal Financial Group in a research note on Thursday, August 3rd. BidaskClub lowered Principal Financial Group from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $73.00 target price on shares of Principal Financial Group in a research note on Wednesday, July 12th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $61.78.
Principal Financial Group 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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