State of Alaska Department of Revenue lifted its stake in Principal Financial Group Inc (NYSE:PFG) by 35.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,411 shares of the financial services provider’s stock after purchasing an additional 15,160 shares during the quarter. State of Alaska Department of Revenue’s holdings in Principal Financial Group were worth $4,049,000 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 raised its position in Principal Financial Group by 6,656.1% during the second quarter. Janus Henderson Group PLC now owns 3,020,597 shares of the financial services provider’s stock valued at $193,529,000 after acquiring an additional 2,975,888 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. Allianz Asset Management GmbH raised its position in Principal Financial Group by 29.4% during the third quarter. Allianz Asset Management GmbH now owns 1,607,888 shares of the financial services provider’s stock valued at $103,451,000 after acquiring an additional 365,068 shares in the last quarter. Schroder Investment Management Group raised its position in Principal Financial Group by 17.0% during the third quarter. Schroder Investment Management Group now owns 1,807,710 shares of the financial services provider’s stock valued at $115,693,000 after acquiring an additional 262,065 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in Principal Financial Group by 286.2% during the third quarter. Canada Pension Plan Investment Board now owns 351,435 shares of the financial services provider’s stock valued at $22,611,000 after acquiring an additional 260,444 shares in the last quarter. 68.64% of the stock is owned by institutional investors and hedge funds.

PFG has been the topic of several recent research reports. Wells Fargo & Co 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 lowered shares of Principal Financial Group from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Goldman Sachs Group raised shares of Principal Financial Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 9th. 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 issued a hold rating and two have assigned a buy rating to the company’s stock. Principal Financial Group has a consensus rating of “Hold” and an average target price of $68.90.

Principal Financial Group Inc (NYSE PFG) opened at $73.97 on Tuesday. Principal Financial Group Inc has a 52-week low of $56.12 and a 52-week high of $74.80. The company has a market cap of $21,360.00, a P/E ratio of 12.13, a PEG ratio of 1.35 and a beta of 1.72. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.10 and a quick ratio of 0.10.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Thursday, October 26th. The financial services provider reported $1.28 EPS for the quarter, missing the Zacks’ 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 firm had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the prior year, the business earned $1.15 EPS. sell-side analysts forecast that Principal Financial Group Inc will post 5.22 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Monday, December 4th were given a $0.49 dividend. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Friday, December 1st. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.65%. Principal Financial Group’s dividend payout ratio (DPR) is currently 32.13%.

In other news, Chairman Daniel Joseph Houston sold 19,856 shares of Principal Financial Group stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $72.02, for a total value of $1,430,029.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Gary P. Scholten sold 24,310 shares of Principal Financial Group stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $71.59, for a total transaction of $1,740,352.90. The disclosure for this sale can be found here. In the last three months, insiders sold 301,958 shares of company stock worth $21,343,156. Insiders own 1.50% of the company’s stock.

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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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