Generali Asset Management SPA SGR Acquires 7,695 Shares of Principal Financial Group, Inc. $PFG

Generali Asset Management SPA SGR raised its holdings in shares of Principal Financial Group, Inc. (NASDAQ:PFG) by 57.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 21,156 shares of the company’s stock after acquiring an additional 7,695 shares during the period. Generali Asset Management SPA SGR’s holdings in Principal Financial Group were worth $1,866,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Management Corp VA raised its position in shares of Principal Financial Group by 19.2% during the 3rd quarter. Capital Management Corp VA now owns 172,736 shares of the company’s stock valued at $14,322,000 after acquiring an additional 27,857 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Principal Financial Group by 160.3% in the 3rd quarter. Nordea Investment Management AB now owns 48,902 shares of the company’s stock valued at $3,978,000 after buying an additional 30,118 shares during the period. Mediolanum International Funds Ltd increased its position in shares of Principal Financial Group by 41.5% in the 3rd quarter. Mediolanum International Funds Ltd now owns 127,368 shares of the company’s stock valued at $10,504,000 after buying an additional 37,357 shares in the last quarter. Rakuten Investment Management Inc. bought a new stake in shares of Principal Financial Group in the 3rd quarter valued at $18,526,000. Finally, Teacher Retirement System of Texas increased its position in shares of Principal Financial Group by 21.1% in the 3rd quarter. Teacher Retirement System of Texas now owns 215,843 shares of the company’s stock valued at $17,896,000 after buying an additional 37,676 shares in the last quarter. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Up 0.5%

NASDAQ:PFG opened at $100.50 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.27 and a current ratio of 0.27. The company has a market cap of $21.71 billion, a PE ratio of 14.38, a PEG ratio of 0.95 and a beta of 0.89. Principal Financial Group, Inc. has a 52-week low of $75.00 and a 52-week high of $103.00. The stock has a 50-day simple moving average of $92.76 and a 200 day simple moving average of $89.78.

Principal Financial Group (NASDAQ:PFG) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.06. The business had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $4.11 billion. Principal Financial Group had a return on equity of 16.25% and a net margin of 10.10%.During the same period last year, the company earned $1.81 earnings per share. On average, sell-side analysts expect that Principal Financial Group, Inc. will post 9.31 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Monday, June 1st will be issued a dividend of $0.82 per share. The ex-dividend date is Monday, June 1st. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.80. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.3%. Principal Financial Group’s dividend payout ratio is 45.78%.

Insider Transactions at Principal Financial Group

In other Principal Financial Group news, General Counsel George Djurasovic sold 2,571 shares of the business’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $100.83, for a total transaction of $259,233.93. Following the sale, the general counsel directly owned 21,906 shares of the company’s stock, valued at $2,208,781.98. The trade was a 10.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Wee Yee Cheong sold 9,183 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $101.26, for a total transaction of $929,870.58. Following the sale, the insider directly owned 77,188 shares in the company, valued at $7,816,056.88. This trade represents a 10.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 17,572 shares of company stock valued at $1,776,769. 1.13% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PFG. Bank of America lowered their price objective on shares of Principal Financial Group from $96.00 to $92.00 and set a “neutral” rating for the company in a research report on Tuesday, April 14th. Morgan Stanley upped their price objective on shares of Principal Financial Group from $93.00 to $95.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 3rd. Evercore set a $108.00 price objective on shares of Principal Financial Group in a research report on Monday, April 27th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $92.00 price objective on shares of Principal Financial Group in a research report on Thursday, March 26th. Finally, UBS Group upped their price objective on shares of Principal Financial Group from $92.00 to $94.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Principal Financial Group presently has an average rating of “Hold” and a consensus target price of $95.33.

About Principal Financial Group

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.