Principal Financial Group, Inc. $PFG Shares Bought by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. raised its holdings in Principal Financial Group, Inc. (NASDAQ:PFG) by 5.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,498,766 shares of the company’s stock after acquiring an additional 135,631 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Principal Financial Group were worth $220,416,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. National Wealth Management Group LLC acquired a new stake in shares of Principal Financial Group in the 4th quarter worth approximately $998,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Principal Financial Group by 47.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 50,386 shares of the company’s stock worth $4,630,000 after acquiring an additional 16,171 shares during the period. VCI Wealth Management LLC acquired a new stake in shares of Principal Financial Group in the 4th quarter worth approximately $1,650,000. Oak Thistle LLC acquired a new stake in shares of Principal Financial Group in the 4th quarter worth approximately $1,462,000. Finally, LBP AM SA acquired a new stake in shares of Principal Financial Group in the 4th quarter worth approximately $10,400,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Insiders Place Their Bets

In other Principal Financial Group news, insider Wee Yee Cheong sold 9,183 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $101.26, for a total transaction of $929,870.58. Following the transaction, the insider owned 77,188 shares of the company’s stock, valued at $7,816,056.88. This represents a 10.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel George Djurasovic sold 2,571 shares of the stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $100.83, for a total value of $259,233.93. Following the transaction, the general counsel directly owned 21,906 shares in the company, valued at approximately $2,208,781.98. This represents a 10.50% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 28,317 shares of company stock worth $2,884,902. Corporate insiders own 1.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PFG shares. Bank of America lowered their price target on Principal Financial Group from $96.00 to $92.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. Weiss Ratings cut Principal Financial Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 1st. Barclays upped their price target on Principal Financial Group from $85.00 to $87.00 and gave the stock an “underweight” rating in a report on Friday, April 24th. Morgan Stanley upped their price target on Principal Financial Group from $95.00 to $107.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st. Finally, UBS Group upped their price target on Principal Financial Group from $92.00 to $94.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $98.10.

Principal Financial Group Trading Up 1.7%

Shares of Principal Financial Group stock opened at $105.22 on Friday. Principal Financial Group, Inc. has a fifty-two week low of $75.00 and a fifty-two week high of $105.56. The firm has a market cap of $22.73 billion, a PE ratio of 15.05, a P/E/G ratio of 0.99 and a beta of 0.88. The business’s fifty day moving average is $97.99 and its two-hundred day moving average is $92.73. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.33.

Principal Financial Group (NASDAQ:PFG) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.06. Principal Financial Group had a return on equity of 16.25% and a net margin of 10.10%.The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $4.11 billion. During the same quarter in the prior year, the company posted $1.81 EPS. Analysts anticipate that Principal Financial Group, Inc. will post 9.36 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.1%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.80. Principal Financial Group’s dividend payout ratio is currently 46.92%.

Principal Financial Group 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.