Cubist Systematic Strategies LLC lifted its stake in Principal Financial Group Inc (NYSE:PFG) by 67.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,667 shares of the financial services provider’s stock after purchasing an additional 8,339 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Principal Financial Group were worth $1,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of PFG. Janus Henderson Group PLC lifted its position in shares of Principal Financial Group by 6,656.1% in the second quarter. Janus Henderson Group PLC now owns 3,020,597 shares of the financial services provider’s stock worth $193,529,000 after purchasing an additional 2,975,888 shares in the last quarter. Nordea Investment Management AB raised its position in Principal Financial Group by 1,613.5% during the second quarter. Nordea Investment Management AB now owns 668,624 shares of the financial services provider’s stock valued at $42,839,000 after acquiring an additional 629,604 shares in the last quarter. Old Mutual Global Investors UK Ltd. raised its position in Principal Financial Group by 104.5% during the third quarter. Old Mutual Global Investors UK Ltd. now owns 1,180,596 shares of the financial services provider’s stock valued at $75,959,000 after acquiring an additional 603,342 shares in the last quarter. BlackRock Inc. raised its position in Principal Financial Group by 3.3% during the second quarter. BlackRock Inc. now owns 18,306,790 shares of the financial services provider’s stock valued at $1,172,916,000 after acquiring an additional 592,172 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Principal Financial Group by 2.0% during the second quarter. Vanguard Group Inc. now owns 30,237,096 shares of the financial services provider’s stock valued at $1,937,291,000 after acquiring an additional 587,221 shares in the last quarter. 68.76% of the stock is owned by institutional investors and hedge funds.

In other Principal Financial Group news, insider Nora Mary Everett sold 12,398 shares of the stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $68.00, for a total transaction of $843,064.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Karen E. Shaff sold 17,082 shares of the stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $68.00, for a total value of $1,161,576.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 239,075 shares of company stock worth $16,583,171. Corporate insiders own 1.50% of the company’s stock.

Principal Financial Group Inc (NYSE PFG) opened at $70.37 on Monday. Principal Financial Group Inc has a twelve month low of $56.12 and a twelve month high of $72.23. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $20,319.98, a P/E ratio of 13.72, a price-to-earnings-growth ratio of 1.35 and a beta of 1.71.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings results on Thursday, October 26th. The financial services provider reported $1.28 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.02). Principal Financial Group had a net margin of 12.35% and a return on equity of 13.55%. The company had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter last year, the business earned $1.15 EPS. equities research analysts forecast that Principal Financial Group Inc will post 5.22 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Monday, December 4th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 2.79%. The ex-dividend date is Friday, December 1st. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.47. Principal Financial Group’s dividend payout ratio (DPR) is 32.13%.

Several equities analysts recently weighed in on PFG shares. Wells Fargo & Company set a $79.00 price objective on shares of Principal Financial Group and gave the company a “buy” rating in a research report on Thursday, December 7th. Morgan Stanley raised their price objective on shares of Principal Financial Group from $67.00 to $72.00 and gave the company an “equal weight” rating in a research report on Thursday, October 5th. Zacks Investment Research raised shares of Principal Financial Group from a “sell” rating to a “hold” rating and set a $73.00 price objective on the stock in a research report on Monday, October 2nd. Goldman Sachs Group started coverage on shares of Principal Financial Group in a research report on Wednesday, October 18th. They set a “neutral” rating and a $70.00 price objective on the stock. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $73.00 price objective on shares of Principal Financial Group in a research report on Monday, December 11th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $68.20.

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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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Institutional Ownership by Quarter for Principal Financial Group (NYSE:PFG)

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