Principal Financial Group Inc (PFG) Position Decreased by WINTON GROUP Ltd
WINTON GROUP Ltd lowered its stake in shares of Principal Financial Group Inc (NYSE:PFG) by 24.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 145,775 shares of the financial services provider’s stock after selling 47,903 shares during the period. WINTON GROUP Ltd owned approximately 0.05% of Principal Financial Group worth $7,509,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in the stock. CENTRAL TRUST Co boosted its stake in shares of Principal Financial Group by 2.4% in the first quarter. CENTRAL TRUST Co now owns 2,176 shares of the financial services provider’s stock valued at $137,000 after buying an additional 52 shares during the last quarter. Blair William & Co. IL purchased a new stake in shares of Principal Financial Group during the first quarter valued at $205,000. Washington Trust Bank boosted its stake in shares of Principal Financial Group by 29.3% in the first quarter. Washington Trust Bank now owns 3,336 shares of the financial services provider’s stock valued at $211,000 after buying an additional 755 shares during the last quarter. Wesbanco Bank Inc. purchased a new stake in shares of Principal Financial Group during the fourth quarter valued at $201,000. Finally, Private Advisor Group LLC purchased a new stake in shares of Principal Financial Group during the fourth quarter valued at $211,000. 70.57% of the stock is owned by institutional investors and hedge funds.
Principal Financial Group Inc (PFG) traded up 0.69% during midday trading on Monday, hitting $65.80. 598,773 shares of the stock traded hands. Principal Financial Group Inc has a 52-week low of $38.03 and a 52-week high of $66.12. The company has a market cap of $18.96 billion, a price-to-earnings ratio of 14.82 and a beta of 1.65. The firm’s 50-day moving average is $63.53 and its 200-day moving average is $61.52.
Principal Financial Group (NYSE:PFG) last issued its earnings results on Thursday, April 27th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.08. The firm had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3.16 billion. Principal Financial Group had a net margin of 10.37% and a return on equity of 13.35%. During the same period in the previous year, the firm earned $0.97 earnings per share. Analysts predict that Principal Financial Group Inc will post $5.04 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Monday, June 5th will be paid a $0.46 dividend. The ex-dividend date is Thursday, June 1st. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.45. This represents a $1.84 dividend on an annualized basis and a yield of 2.82%. Principal Financial Group’s dividend payout ratio is 41.44%.
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Several brokerages have weighed in on PFG. Deutsche Bank AG increased their price target on shares of Principal Financial Group from $60.00 to $62.00 and gave the company a “hold” rating in a research report on Wednesday, April 19th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $64.00 price target on shares of Principal Financial Group in a research report on Tuesday, March 21st. J P Morgan Chase & Co increased their price target on shares of Principal Financial Group from $53.00 to $56.00 and gave the company an “underweight” rating in a research report on Monday, April 3rd. Finally, Zacks Investment Research raised shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research report on Monday, April 10th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $57.82.
In related news, insider James P. Mccaughan sold 65,818 shares of the company’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $63.53, for a total value of $4,181,417.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Luis E. Valdes sold 60,911 shares of the company’s stock in a transaction dated Thursday, April 20th. The stock was sold at an average price of $63.00, for a total transaction of $3,837,393.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 284,059 shares of company stock valued at $18,183,043. 1.50% of the stock is owned by insiders.
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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