Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Principal Financial Group Inc (NYSE:PFG) by 367.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,556 shares of the financial services provider’s stock after buying an additional 36,600 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Principal Financial Group were worth $3,285,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC acquired a new stake in shares of Principal Financial Group during the fourth quarter worth $174,000. Acadian Asset Management LLC lifted its position in Principal Financial Group by 215.0% during 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 during the period. Resources Investment Advisors Inc. lifted its position in Principal Financial Group by 268.6% during 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 during the period. Synovus Financial Corp acquired a new position in Principal Financial Group during the fourth quarter valued at $214,000. Finally, First Heartland Consultants Inc. acquired a new position in Principal Financial Group during the third quarter valued at $224,000. Institutional investors and hedge funds own 68.64% of the company’s stock.
In other Principal Financial Group news, insider Luis E. Valdes sold 47,662 shares of Principal Financial Group stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $70.04, for a total value of $3,338,246.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Timothy Mark Dunbar sold 16,400 shares of Principal Financial Group 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 disclosure for this sale can be found here. Insiders sold 205,784 shares of company stock valued at $14,464,389 in the last ninety days. 1.50% of the stock is owned by corporate insiders.
Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Monday, January 29th. The financial services provider reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.32 billion. During the same period in the previous year, the firm posted $1.27 EPS. equities research analysts expect that Principal Financial Group Inc will post 5.22 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Monday, March 5th will be issued a $0.51 dividend. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 2nd. This represents a $2.04 dividend on an annualized basis and a yield of 3.24%. Principal Financial Group’s payout ratio is presently 34.87%.
A number of research analysts recently issued reports on PFG shares. Wells Fargo & Co set a $79.00 target price on shares of Principal Financial Group and gave the company a “buy” rating in a research report on Thursday, December 7th. Goldman Sachs Group upgraded shares of Principal Financial Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 9th. Zacks Investment Research upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a research report on Thursday, January 4th. Morgan Stanley decreased their target price on shares of Principal Financial Group from $80.00 to $79.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 30th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $76.00 target price on shares of Principal Financial Group in a research report on Wednesday, January 31st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $73.10.
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About Principal Financial Group
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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