L & S Advisors Inc Takes $403,000 Position in Principal Financial Group Inc (PFG)
L & S Advisors Inc purchased a new stake in Principal Financial Group Inc (NYSE:PFG) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 6,290 shares of the financial services provider’s stock, valued at approximately $403,000.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Sun Life Financial INC increased its holdings in Principal Financial Group by 21,822.2% in the 2nd quarter. Sun Life Financial INC now owns 1,973 shares of the financial services provider’s stock worth $126,000 after acquiring an additional 1,964 shares in the last quarter. Jacobi Capital Management LLC raised its position in Principal Financial Group by 291.1% during the first quarter. Jacobi Capital Management LLC now owns 2,691 shares of the financial services provider’s stock worth $167,000 after acquiring an additional 2,003 shares during the period. Oppenheimer & Co. Inc. acquired a new position in Principal Financial Group during the first quarter worth $202,000. Eagle Global Advisors LLC acquired a new position in Principal Financial Group during the second quarter worth $207,000. Finally, Blair William & Co. IL acquired a new position in Principal Financial Group during the first quarter worth $205,000. 68.26% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Principal Financial Group Inc (NYSE PFG) traded down 0.28% during midday trading on Tuesday, hitting $64.74. 159,622 shares of the stock were exchanged. The firm has a 50-day moving average price of $62.98 and a 200 day moving average price of $63.78. Principal Financial Group Inc has a 12-month low of $50.96 and a 12-month high of $67.73. The firm has a market cap of $18.71 billion, a PE ratio of 14.71 and a beta of 1.67.
Principal Financial Group (NYSE:PFG) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.09. The business had revenue of $3.27 billion during 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 business posted $1.15 earnings per share. Analysts predict that Principal Financial Group Inc will post $5.19 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 1st were given a $0.47 dividend. The ex-dividend date was Wednesday, August 30th. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.46. This represents a $1.88 annualized dividend and a dividend yield of 2.90%. Principal Financial Group’s payout ratio is currently 42.73%.
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In other Principal Financial Group news, EVP Karen E. Shaff sold 30,500 shares of Principal Financial Group 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James P. Mccaughan sold 60,817 shares of Principal Financial Group stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $66.98, for a total transaction of $4,073,522.66. The disclosure for this sale can be found here. Insiders sold a total of 241,588 shares of company stock worth $15,597,282 over the last quarter. Insiders own 1.50% of the company’s stock.
Several equities analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Principal Financial Group from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. Wells Fargo & Company reissued a “buy” rating on shares of Principal Financial Group in a research note on Thursday, June 29th. BidaskClub raised shares of Principal Financial Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Royal Bank Of Canada restated a “buy” rating and set a $73.00 price target on shares of Principal Financial Group in a research report on Wednesday, July 12th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $68.00 price target on shares of Principal Financial Group in a research report on Thursday, August 3rd. Three research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $63.88.
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.
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