Stifel Financial Corp Has $1.78 Million Position in Principal Financial Group Inc (PFG)
Stifel Financial Corp cut its holdings in Principal Financial Group Inc (NYSE:PFG) by 29.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,870 shares of the financial services provider’s stock after selling 11,885 shares during the period. Stifel Financial Corp’s holdings in Principal Financial Group were worth $1,780,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in PFG. Jacobi Capital Management LLC boosted its holdings in Principal Financial Group by 291.1% in the 1st 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 period. Oppenheimer & Co. Inc. bought a new position in Principal Financial Group in the 1st quarter worth approximately $202,000. Blair William & Co. IL bought a new position in Principal Financial Group in the 1st quarter valued at $205,000. Eagle Global Advisors LLC bought a new position in Principal Financial Group in the 2nd quarter valued at $207,000. Finally, Lowe Brockenbrough & Co. Inc. bought a new position in Principal Financial Group in the 1st quarter valued at $211,000. 68.18% of the stock is owned by institutional investors.
PFG has been the subject of several analyst reports. Zacks Investment Research raised shares of Principal Financial Group from a “sell” rating to a “hold” rating and set a $73.00 price target for the company in a report on Monday, October 2nd. Wells Fargo & Company reissued a “buy” rating on shares of Principal Financial Group in a report on Thursday, June 29th. Barclays PLC raised their price target on shares of Principal Financial Group from $61.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, August 11th. Morgan Stanley raised their price target on shares of Principal Financial Group from $67.00 to $72.00 and gave the company an “equal weight” rating in a report on Thursday, October 5th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $68.00 price target on shares of Principal Financial Group in a report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $66.00.
In other Principal Financial Group news, insider James P. Mccaughan sold 60,817 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $66.98, for a total transaction of $4,073,522.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gary P. Scholten sold 13,495 shares of the stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $67.00, for a total transaction of $904,165.00. The disclosure for this sale can be found here. Insiders have sold 150,272 shares of company stock valued at $9,696,407 in the last quarter. 1.50% of the stock is owned by company insiders.
Shares of Principal Financial Group Inc (PFG) opened at 67.32 on Tuesday. Principal Financial Group Inc has a 52-week low of $52.08 and a 52-week high of $67.95. The stock has a market cap of $19.45 billion, a PE ratio of 15.30 and a beta of 1.67. The stock’s 50 day moving average is $63.78 and its 200 day moving average is $64.06.
Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.09. Principal Financial Group had a net margin of 10.15% and a return on equity of 13.57%. The business had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the business earned $1.15 earnings per share. Equities research analysts forecast that Principal Financial Group Inc will post $5.19 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 1st were given a dividend of $0.47 per share. The ex-dividend date was Wednesday, August 30th. This represents a $1.88 annualized dividend and a yield of 2.79%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.46. Principal Financial Group’s dividend payout ratio (DPR) is 42.73%.
About Principal Financial Group
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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