Robeco Institutional Asset Management B.V. Raises Position in Principal Financial Group Inc (PFG)
Robeco Institutional Asset Management B.V. boosted its stake in shares of Principal Financial Group Inc (NYSE:PFG) by 3.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 496,328 shares of the financial services provider’s stock after buying an additional 14,586 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.17% of Principal Financial Group worth $31,798,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Cookson Peirce & Co. Inc. raised its position in shares of Principal Financial Group by 3.0% in the first quarter. Cookson Peirce & Co. Inc. now owns 6,610 shares of the financial services provider’s stock valued at $417,000 after buying an additional 190 shares during the period. Arete Wealth Advisors LLC raised its position in Principal Financial Group by 19.0% in the first quarter. Arete Wealth Advisors LLC now owns 6,136 shares of the financial services provider’s stock worth $387,000 after buying an additional 979 shares during the last quarter. Canada Pension Plan Investment Board raised its position in Principal Financial Group by 172.4% in the first quarter. Canada Pension Plan Investment Board now owns 33,491 shares of the financial services provider’s stock worth $2,114,000 after buying an additional 21,197 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its position in Principal Financial Group by 8.1% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 23,188 shares of the financial services provider’s stock worth $1,463,000 after buying an additional 1,728 shares during the last quarter. Finally, DUPONT CAPITAL MANAGEMENT Corp bought a new position in Principal Financial Group during the first quarter worth approximately $1,535,000. 70.10% of the stock is owned by institutional investors and hedge funds.
Shares of Principal Financial Group Inc (PFG) opened at 63.33 on Friday. The company has a 50 day moving average price of $65.44 and a 200-day moving average price of $63.74. The stock has a market cap of $18.30 billion, a P/E ratio of 14.39 and a beta of 1.65. Principal Financial Group Inc has a 12 month low of $47.56 and a 12 month high of $67.73.
Principal Financial Group (NYSE:PFG) last announced its earnings results on Thursday, July 27th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.09. Principal Financial Group had a net margin of 10.15% and a return on equity of 13.57%. The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the business earned $1.15 earnings per share. On average, equities research analysts predict that Principal Financial Group Inc will post $5.18 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be given a $0.47 dividend. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.88 annualized dividend and a dividend yield of 2.97%. Principal Financial Group’s dividend payout ratio (DPR) is 41.82%.
Principal Financial Group declared that its board has authorized a share repurchase program on Wednesday, May 17th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 1.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
A number of research firms have recently commented on PFG. Zacks Investment Research raised Principal Financial Group from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Tuesday, August 1st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $68.00 price target on shares of Principal Financial Group in a report on Thursday, August 3rd. Barclays PLC raised their price target on Principal Financial Group from $61.00 to $63.00 and gave the stock an “equal weight” rating in a report on Friday, August 11th. BidaskClub lowered Principal Financial Group from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Finally, Wells Fargo & Company reaffirmed a “buy” rating on shares of Principal Financial Group in a report on Thursday, June 29th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $61.67.
In related news, EVP Gary P. Scholten sold 21,950 shares of the business’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $65.04, for a total transaction of $1,427,628.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nora Mary Everett sold 8,700 shares of the business’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $63.52, for a total transaction of $552,624.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 345,538 shares of company stock worth $22,435,450. Company insiders own 1.50% of the company’s stock.
Principal Financial Group Company Profile
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.
Receive News & Stock Ratings for Principal Financial Group Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Principal Financial Group Inc and related stocks with our FREE daily email newsletter.