GSA Capital Partners LLP Invests $772,000 in Principal Financial Group Inc (PFG) Stock
GSA Capital Partners LLP acquired a new position in shares of Principal Financial Group Inc (NYSE:PFG) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 12,044 shares of the financial services provider’s stock, valued at approximately $772,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Swiss National Bank lifted its stake in Principal Financial Group by 3.0% during the second quarter. Swiss National Bank now owns 1,050,263 shares of the financial services provider’s stock worth $67,290,000 after purchasing an additional 30,900 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new position in Principal Financial Group during the second quarter worth $2,210,000. State of Tennessee Treasury Department lifted its stake in Principal Financial Group by 25.7% during the second quarter. State of Tennessee Treasury Department now owns 129,360 shares of the financial services provider’s stock worth $8,288,000 after purchasing an additional 26,432 shares during the last quarter. Chicago Equity Partners LLC bought a new position in Principal Financial Group during the second quarter worth $2,880,000. Finally, Gotham Asset Management LLC bought a new position in Principal Financial Group during the first quarter worth $1,000,000. Hedge funds and other institutional investors own 68.26% of the company’s stock.
In related news, EVP Gary P. Scholten sold 13,495 shares of the business’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $67.00, for a total value of $904,165.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider James P. Mccaughan sold 60,814 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $62.10, for a total value of $3,776,549.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 180,772 shares of company stock worth $11,678,907. 1.50% of the stock is owned by insiders.
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Shares of Principal Financial Group Inc (PFG) opened at 65.82 on Thursday. Principal Financial Group Inc has a 1-year low of $51.25 and a 1-year high of $67.73. The firm has a 50-day moving average price of $63.01 and a 200-day moving average price of $63.81. The company has a market capitalization of $19.02 billion, a PE ratio of 14.96 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 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.09. The business had revenue of $3.27 billion for the quarter, compared to analyst estimates 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 in the previous year, the firm earned $1.15 EPS. Equities analysts anticipate that Principal Financial Group Inc will post $5.19 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 1st were paid a $0.47 dividend. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.46. The ex-dividend date was Wednesday, August 30th. This represents a $1.88 annualized dividend and a yield of 2.86%. Principal Financial Group’s payout ratio is currently 42.73%.
PFG has been the topic of several research analyst reports. Wells Fargo & Company restated a “buy” rating on shares of Principal Financial Group in a research note on Thursday, June 29th. Zacks Investment Research upgraded Principal Financial Group from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Tuesday, August 1st. Royal Bank Of Canada reiterated a “buy” rating and issued a $73.00 target price on shares of Principal Financial Group in a research note on Wednesday, July 12th. BidaskClub upgraded Principal Financial Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Finally, Barclays PLC raised their target price on Principal Financial Group from $61.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday, August 11th. 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 company has a consensus rating of “Hold” and an average target price of $63.63.
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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