Principal Financial Group Inc (PFG) Shares Bought by Commonwealth of Pennsylvania Public School Empls Retrmt SYS
Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Principal Financial Group Inc (NYSE:PFG) by 0.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,914 shares of the financial services provider’s stock after buying an additional 82 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Principal Financial Group were worth $1,276,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the company. Swiss National Bank increased its holdings in Principal Financial Group by 3.0% in the 2nd quarter. Swiss National Bank now owns 1,050,263 shares of the financial services provider’s stock valued at $67,290,000 after purchasing an additional 30,900 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in Principal Financial Group in the 2nd quarter valued at $2,210,000. Mason Street Advisors LLC increased its holdings in Principal Financial Group by 0.9% in the 1st quarter. Mason Street Advisors LLC now owns 36,946 shares of the financial services provider’s stock valued at $2,332,000 after purchasing an additional 347 shares in the last quarter. Gotham Asset Management LLC acquired a new stake in Principal Financial Group in the 1st quarter valued at $1,000,000. Finally, Chicago Equity Partners LLC acquired a new stake in Principal Financial Group in the 2nd quarter valued at $2,880,000. Institutional investors and hedge funds own 68.19% of the company’s stock.
In other Principal Financial Group news, EVP Gary P. Scholten sold 21,950 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $65.04, for a total value of $1,427,628.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Nora Mary Everett sold 14,630 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $64.60, for a total transaction of $945,098.00. The disclosure for this sale can be found here. Insiders sold a total of 302,682 shares of company stock worth $19,555,388 over the last 90 days. Company insiders own 1.50% of the company’s stock.
Principal Financial Group Inc (PFG) opened at 60.67 on Monday. The stock has a market capitalization of $17.53 billion, a PE ratio of 13.79 and a beta of 1.66. The firm has a 50-day moving average of $64.45 and a 200-day moving average of $63.78. Principal Financial Group Inc has a 52-week low of $47.56 and a 52-week high of $67.73.
Principal Financial Group (NYSE:PFG) last posted its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.09. The company had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.16 billion. Principal Financial Group had a net margin of 10.15% and a return on equity of 13.57%. During the same period last year, the business posted $1.15 EPS. On average, equities analysts expect that Principal Financial Group Inc will post $5.18 EPS for the current year.
Principal Financial Group announced that its Board of Directors has authorized a stock repurchase plan 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 plans are generally an indication that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.10%. 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. Principal Financial Group’s dividend payout ratio (DPR) is currently 42.73%.
PFG has been the subject of several recent research reports. Royal Bank Of Canada reiterated a “buy” rating and issued a $74.00 price target on shares of Principal Financial Group in a report on Wednesday, September 6th. Zacks Investment Research upgraded 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. BidaskClub upgraded Principal Financial Group from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Wells Fargo & Company reiterated a “buy” rating on shares of Principal Financial Group in a report on Thursday, June 29th. Finally, Barclays PLC increased their price target on Principal Financial Group from $61.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, August 11th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $61.78.
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.
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