BerganKDV Wealth Management LLC Sells 1,915 Shares of Principal Financial Group Inc (PFG)
BerganKDV Wealth Management LLC reduced its stake in Principal Financial Group Inc (NYSE:PFG) by 32.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,054 shares of the financial services provider’s stock after selling 1,915 shares during the period. BerganKDV Wealth Management LLC’s holdings in Principal Financial Group were worth $286,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of Montreal Can grew its stake in shares of Principal Financial Group by 4.1% in the fourth quarter. Bank of Montreal Can now owns 521,937 shares of the financial services provider’s stock worth $36,828,000 after acquiring an additional 20,742 shares during the last quarter. Dalton Greiner Hartman Maher & Co. purchased a new stake in shares of Principal Financial Group in the fourth quarter worth $13,056,000. Pensionfund Sabic purchased a new stake in shares of Principal Financial Group in the fourth quarter worth $1,623,000. Pensionfund DSM Netherlands purchased a new stake in shares of Principal Financial Group in the fourth quarter worth $3,246,000. Finally, Parametric Portfolio Associates LLC grew its stake in shares of Principal Financial Group by 8.3% in the third quarter. Parametric Portfolio Associates LLC now owns 845,846 shares of the financial services provider’s stock worth $54,422,000 after acquiring an additional 64,811 shares during the last quarter. 68.64% of the stock is currently owned by hedge funds and other institutional investors.
In other Principal Financial Group news, Chairman Daniel Joseph Houston sold 19,856 shares of the stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $72.02, for a total value of $1,430,029.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Nora Mary Everett sold 17,290 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $70.16, for a total value of $1,213,066.40. The disclosure for this sale can be found here. In the last three months, insiders sold 301,958 shares of company stock worth $21,343,156. 1.50% of the stock is owned by corporate insiders.
Principal Financial Group (NYSE:PFG) last announced its quarterly earnings results on Thursday, October 26th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.02). The business had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.12 billion. Principal Financial Group had a net margin of 12.35% and a return on equity of 13.55%. During the same period in the previous year, the company earned $1.15 earnings per share. analysts predict that Principal Financial Group Inc will post 5.22 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Monday, December 4th were issued a $0.49 dividend. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.47. The ex-dividend date was Friday, December 1st. This represents a $1.96 dividend on an annualized basis and a yield of 2.69%. Principal Financial Group’s dividend payout ratio is currently 32.13%.
A number of research analysts have recently issued reports on the company. Zacks Investment Research raised Principal Financial Group from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a report on Friday, January 12th. Goldman Sachs Group raised Principal Financial Group from a “neutral” rating to a “buy” rating in a report on Tuesday, January 9th. Wells Fargo & Co downgraded Principal Financial Group from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 9th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $73.00 price target on shares of Principal Financial Group in a report on Monday, December 11th. Finally, Morgan Stanley upped their price target on Principal Financial Group from $67.00 to $72.00 and gave the company an “equal weight” rating in a report on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. Principal Financial Group presently has a consensus rating of “Hold” and a consensus price target of $68.90.
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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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