Amundi Pioneer Asset Management Inc. Invests $35.09 Million in Principal Financial Group Inc (PFG) Stock
Amundi Pioneer Asset Management Inc. bought a new stake in Principal Financial Group Inc (NYSE:PFG) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 497,260 shares of the financial services provider’s stock, valued at approximately $35,087,000.
Other large investors have also recently modified their holdings of the company. Tower Research Capital LLC TRC bought a new stake in Principal Financial Group in the fourth quarter valued at approximately $174,000. Acadian Asset Management LLC increased its stake in Principal Financial Group by 215.0% in the fourth quarter. Acadian Asset Management LLC now owns 2,611 shares of the financial services provider’s stock valued at $184,000 after purchasing an additional 1,782 shares in the last quarter. Resources Investment Advisors Inc. increased its stake in Principal Financial Group by 268.6% in the fourth quarter. Resources Investment Advisors Inc. now owns 2,997 shares of the financial services provider’s stock valued at $155,000 after purchasing an additional 2,184 shares in the last quarter. Synovus Financial Corp bought a new stake in Principal Financial Group in the fourth quarter valued at approximately $214,000. Finally, First Heartland Consultants Inc. bought a new stake in Principal Financial Group in the third quarter valued at approximately $224,000. 68.64% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Timothy Mark Dunbar sold 16,400 shares of the stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $70.23, for a total transaction of $1,151,772.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Luis E. Valdes sold 27,662 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $64.02, for a total transaction of $1,770,921.24. The disclosure for this sale can be found here. Insiders have sold 205,784 shares of company stock valued at $14,464,389 in the last 90 days. 1.50% of the stock is currently owned by corporate insiders.
Principal Financial Group Inc (NYSE:PFG) opened at $63.05 on Friday. The firm has a market cap of $18,760.00, a P/E ratio of 10.78, a PEG ratio of 1.35 and a beta of 1.60. Principal Financial Group Inc has a 1-year low of $59.25 and a 1-year high of $75.58. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.26.
Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Monday, January 29th. The financial services provider reported $1.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.37 by ($0.18). Principal Financial Group had a net margin of 12.35% and a return on equity of 13.55%. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.32 billion. During the same quarter last year, the company earned $1.27 EPS. sell-side analysts expect that Principal Financial Group Inc will post 5.22 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Monday, March 5th will be issued a dividend of $0.51 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, March 2nd. This represents a $2.04 annualized dividend and a yield of 3.24%. Principal Financial Group’s dividend payout ratio is presently 34.87%.
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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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