Hsbc Holdings PLC Has $71.72 Million Stock Holdings in Principal Financial Group, Inc. $PFG

Hsbc Holdings PLC grew its stake in shares of Principal Financial Group, Inc. (NASDAQ:PFG) by 1.8% in the 4th quarter, HoldingsChannel reports. The firm owned 812,064 shares of the company’s stock after acquiring an additional 14,356 shares during the quarter. Hsbc Holdings PLC’s holdings in Principal Financial Group were worth $71,720,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. DV Equities LLC purchased a new position in Principal Financial Group in the 4th quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Principal Financial Group during the fourth quarter valued at about $26,000. Hilton Head Capital Partners LLC purchased a new stake in Principal Financial Group during the fourth quarter valued at about $26,000. Quest 10 Wealth Builders Inc. boosted its holdings in shares of Principal Financial Group by 343.6% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 346 shares of the company’s stock worth $30,000 after buying an additional 268 shares during the period. Finally, FWL Investment Management LLC acquired a new position in shares of Principal Financial Group in the third quarter worth about $32,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Insider Buying and Selling at Principal Financial Group

In other Principal Financial Group news, insider Wee Yee Cheong sold 7,534 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $103.16, for a total value of $777,207.44. Following the transaction, the insider owned 66,443 shares in the company, valued at $6,854,259.88. The trade was a 10.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel George Djurasovic sold 2,571 shares of the company’s stock in a transaction dated 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 directly owned 21,906 shares in the company, valued at approximately $2,208,781.98. The trade was a 10.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 28,317 shares of company stock valued at $2,884,902. 1.13% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PFG shares. Barclays boosted their price target on shares of Principal Financial Group from $85.00 to $87.00 and gave the company an “underweight” rating in a report on Friday, April 24th. UBS Group raised their price objective on shares of Principal Financial Group from $92.00 to $94.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Morgan Stanley lifted their price objective on shares of Principal Financial Group from $95.00 to $107.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 21st. Raymond James Financial downgraded shares of Principal Financial Group from a “strong-buy” rating to an “outperform” rating and boosted their target price for the company from $99.00 to $111.00 in a research note on Tuesday, May 19th. Finally, Wells Fargo & Company decreased their target price on Principal Financial Group from $91.00 to $87.00 and set an “equal weight” rating for the company in a research report on Friday, April 10th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Principal Financial Group presently has an average rating of “Hold” and an average target price of $98.10.

Principal Financial Group Stock Performance

PFG stock opened at $111.23 on Tuesday. The firm has a 50 day simple moving average of $102.21 and a 200 day simple moving average of $94.79. Principal Financial Group, Inc. has a 52 week low of $75.00 and a 52 week high of $112.23. The stock has a market cap of $24.03 billion, a P/E ratio of 15.91, a P/E/G ratio of 1.03 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.

Principal Financial Group (NASDAQ:PFG) last released its quarterly earnings data on Wednesday, April 29th. The company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.06. Principal Financial Group had a net margin of 10.10% and a return on equity of 16.25%. The firm had revenue of $3.53 billion for the quarter, compared to analyst estimates of $4.11 billion. During the same quarter in the prior year, the business earned $1.81 EPS. Research analysts anticipate that Principal Financial Group, Inc. will post 9.36 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Monday, June 1st will be paid a $0.82 dividend. 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. The ex-dividend date of this dividend is Monday, June 1st. Principal Financial Group’s dividend payout ratio (DPR) is currently 46.92%.

Principal Financial Group 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.