Capital Research Global Investors Sells 1,751,000 Shares of Principal Financial Group Inc (PFG)
Capital Research Global Investors lessened its stake in Principal Financial Group Inc (NYSE:PFG) by 11.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,761,000 shares of the financial services provider’s stock after selling 1,751,000 shares during the quarter. Capital Research Global Investors owned about 4.76% of Principal Financial Group worth $881,667,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Sun Life Financial INC boosted its stake in Principal Financial Group by 21,822.2% during the second quarter. Sun Life Financial INC now owns 1,973 shares of the financial services provider’s stock worth $126,000 after buying an additional 1,964 shares during the last quarter. Jacobi Capital Management LLC grew its holdings in Principal Financial Group by 291.1% in the 1st quarter. Jacobi Capital Management LLC now owns 2,691 shares of the financial services provider’s stock valued at $167,000 after buying an additional 2,003 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in Principal Financial Group in the 1st quarter valued at $202,000. Blair William & Co. IL purchased a new stake in Principal Financial Group in the 1st quarter valued at $205,000. Finally, Eagle Global Advisors LLC purchased a new stake in Principal Financial Group in the 2nd quarter valued at $207,000. 68.26% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on PFG. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $74.00 target price on shares of Principal Financial Group in a research note on Wednesday, September 6th. Zacks Investment Research raised shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Tuesday, August 1st. BidaskClub raised shares of Principal Financial Group from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Wells Fargo & Company reissued a “buy” rating on shares of Principal Financial Group in a report on Thursday, June 29th. Finally, Barclays PLC upped their price objective on shares of Principal Financial Group from $61.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, August 11th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $63.88.
In other news, EVP Karen E. Shaff sold 30,500 shares of the stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $65.00, for a total transaction of $1,982,500.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Gary P. Scholten sold 13,495 shares of the stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $67.00, for a total transaction of $904,165.00. The disclosure for this sale can be found here. Insiders have sold 241,588 shares of company stock worth $15,597,282 over the last quarter. 1.50% of the stock is currently owned by company insiders.
Principal Financial Group Inc (NYSE PFG) traded down 0.193% during trading on Tuesday, hitting $64.795. The stock had a trading volume of 271,667 shares. Principal Financial Group Inc has a one year low of $50.96 and a one year high of $67.73. The stock’s 50-day moving average is $62.98 and its 200 day moving average is $63.78. The firm has a market cap of $18.72 billion, a price-to-earnings ratio of 14.726 and a beta of 1.67.
Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data 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 business had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.16 billion. Principal Financial Group had a return on equity of 13.57% and a net margin of 10.15%. During the same quarter last year, the firm earned $1.15 earnings per share. Equities analysts anticipate that Principal Financial Group Inc will post $5.19 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 1st were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.46. This represents a $1.88 annualized dividend and a yield of 2.90%. Principal Financial Group’s dividend payout ratio is 42.73%.
Principal Financial Group 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.