Candriam S.C.A. Reduces Stock Position in Principal Financial Group, Inc. $PFG

Candriam S.C.A. lessened its stake in shares of Principal Financial Group, Inc. (NASDAQ:PFG) by 83.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,177 shares of the company’s stock after selling 69,862 shares during the period. Candriam S.C.A.’s holdings in Principal Financial Group were worth $1,277,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in PFG. DV Equities LLC acquired a new stake in shares of Principal Financial Group during the 4th quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Principal Financial Group in the 4th quarter valued at approximately $26,000. Hilton Head Capital Partners LLC acquired a new stake in Principal Financial Group in the 4th quarter valued at about $26,000. MBM Wealth Consultants LLC purchased a new stake in shares of Principal Financial Group during the first quarter worth approximately $28,000. Finally, Quest 10 Wealth Builders Inc. raised its holdings in shares of Principal Financial Group by 343.6% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 346 shares of the company’s stock valued at $30,000 after purchasing an additional 268 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Principal Financial Group

In other news, insider Wee Yee Cheong sold 9,183 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $101.26, for a total value of $929,870.58. Following the completion of the sale, the insider owned 77,188 shares of the company’s stock, valued at $7,816,056.88. This represents a 10.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel George Djurasovic sold 2,571 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $100.83, for a total value of $259,233.93. Following the completion of the transaction, the general counsel owned 21,906 shares of the company’s stock, valued at approximately $2,208,781.98. This represents a 10.50% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 28,317 shares of company stock worth $2,884,902. 1.13% of the stock is currently owned by insiders.

Analyst Ratings Changes

PFG has been the subject of several recent analyst reports. Weiss Ratings cut Principal Financial Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 1st. Bank of America reaffirmed an “underperform” rating and set a $95.00 price objective (down from $98.00) on shares of Principal Financial Group in a research report on Wednesday, June 24th. Evercore set a $108.00 price target on shares of Principal Financial Group in a research note on Monday, April 27th. Raymond James Financial cut Principal Financial Group from a “strong-buy” rating to an “outperform” rating and increased their price objective for the stock from $99.00 to $111.00 in a research report on Tuesday, May 19th. Finally, Jefferies Financial Group upped their target price on Principal Financial Group from $91.00 to $98.00 and gave the company a “hold” rating in a report on Friday. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Principal Financial Group presently has an average rating of “Hold” and an average price target of $105.82.

Principal Financial Group Price Performance

Principal Financial Group stock opened at $112.92 on Wednesday. The company has a market cap of $24.39 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 1.13 and a beta of 0.88. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.27 and a current ratio of 0.27. The firm has a 50 day moving average price of $106.50 and a 200 day moving average price of $97.21. Principal Financial Group, Inc. has a 1 year low of $75.00 and a 1 year high of $114.90.

Principal Financial Group (NASDAQ:PFG) last issued its earnings results on Wednesday, April 29th. The company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.06. The firm had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $4.11 billion. Principal Financial Group had a return on equity of 16.25% and a net margin of 10.10%.During the same quarter last year, the firm earned $1.81 earnings per share. Sell-side analysts predict that Principal Financial Group, Inc. will post 9.38 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Monday, June 1st were paid a $0.82 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.9%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.80. Principal Financial Group’s payout ratio is 46.92%.

Principal Financial Group Company Profile

Principal Financial Group (NASDAQ: PFG) is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm’s business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal’s product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.