Cambria Investment Management L.P. Has $9.25 Million Stake in Principal Financial Group, Inc. $PFG

Cambria Investment Management L.P. lowered its stake in Principal Financial Group, Inc. (NASDAQ:PFG) by 6.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 111,584 shares of the company’s stock after selling 7,660 shares during the period. Cambria Investment Management L.P.’s holdings in Principal Financial Group were worth $9,251,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of PFG. Capital Management Corp VA increased its stake in shares of Principal Financial Group by 19.2% in the 3rd quarter. Capital Management Corp VA now owns 172,736 shares of the company’s stock valued at $14,322,000 after buying an additional 27,857 shares during the period. Nordea Investment Management AB lifted its stake in shares of Principal Financial Group by 160.3% during the third quarter. Nordea Investment Management AB now owns 48,902 shares of the company’s stock valued at $3,978,000 after acquiring an additional 30,118 shares during the period. Mediolanum International Funds Ltd lifted its stake in shares of Principal Financial Group by 41.5% during the third quarter. Mediolanum International Funds Ltd now owns 127,368 shares of the company’s stock valued at $10,504,000 after acquiring an additional 37,357 shares during the period. Rakuten Investment Management Inc. bought a new position in Principal Financial Group in the third quarter valued at about $18,526,000. Finally, Capital Fund Management S.A. bought a new position in Principal Financial Group in the second quarter valued at about $1,486,000. Institutional investors own 75.08% of the company’s stock.

Insider Transactions at Principal Financial Group

In other Principal Financial Group news, CEO Deanna D. Strable-Soethout sold 7,340 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $95.00, for a total value of $697,300.00. Following the sale, the chief executive officer owned 136,828 shares in the company, valued at approximately $12,998,660. The trade was a 5.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders sold 24,965 shares of company stock valued at $2,352,460. 1.08% of the stock is currently owned by company insiders.

Principal Financial Group Stock Performance

Shares of PFG opened at $86.68 on Thursday. The firm has a market cap of $18.80 billion, a P/E ratio of 16.45, a PEG ratio of 0.82 and a beta of 0.87. Principal Financial Group, Inc. has a twelve month low of $68.39 and a twelve month high of $97.88. 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 firm’s 50 day moving average price is $92.08 and its two-hundred day moving average price is $86.86.

Principal Financial Group (NASDAQ:PFG) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $2.20 earnings per share (EPS) for the quarter. Principal Financial Group had a net margin of 7.58% and a return on equity of 16.09%. The company had revenue of $4.58 billion during the quarter.

Principal Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Wednesday, March 11th will be issued a dividend of $0.80 per share. The ex-dividend date is Wednesday, March 11th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.7%. Principal Financial Group’s dividend payout ratio (DPR) is presently 60.72%.

Wall Street Analysts Forecast Growth

PFG has been the subject of several recent research reports. Weiss Ratings raised Principal Financial Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. Bank of America raised their target price on shares of Principal Financial Group from $95.00 to $96.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. Piper Sandler boosted their price target on shares of Principal Financial Group from $94.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 23rd. JPMorgan Chase & Co. restated a “neutral” rating and issued a $103.00 price objective on shares of Principal Financial Group in a report on Monday, January 5th. Finally, Wells Fargo & Company raised shares of Principal Financial Group from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $85.00 to $91.00 in a research note on Wednesday, February 25th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $94.11.

Principal Financial Group Company Profile

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.