Atria Investments LLC decreased its stake in Principal Financial Group Inc (NYSE:PFG) by 16.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,812 shares of the financial services provider’s stock after selling 6,337 shares during the period. Atria Investments LLC’s holdings in Principal Financial Group were worth $1,922,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new stake in Principal Financial Group in the 2nd quarter valued at $100,000. First Mercantile Trust Co. raised its position in Principal Financial Group by 101.1% in the 2nd quarter. First Mercantile Trust Co. now owns 1,910 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 960 shares during the last quarter. Point72 Asia Hong Kong Ltd purchased a new stake in Principal Financial Group in the 1st quarter valued at $113,000. Dupont Capital Management Corp raised its position in Principal Financial Group by 140.2% in the 2nd quarter. Dupont Capital Management Corp now owns 2,356 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 1,375 shares during the last quarter. Finally, Focused Wealth Management Inc raised its position in Principal Financial Group by 2,090.9% in the 2nd quarter. Focused Wealth Management Inc now owns 2,410 shares of the financial services provider’s stock valued at $128,000 after purchasing an additional 2,300 shares during the last quarter. Institutional investors and hedge funds own 68.64% of the company’s stock.
Several analysts recently commented on the stock. Zacks Investment Research downgraded shares of Principal Financial Group from a “hold” rating to a “sell” rating in a research report on Wednesday, June 27th. Barclays reduced their price target on shares of Principal Financial Group from $72.00 to $68.00 and set an “overweight” rating for the company in a research report on Monday, July 9th. Morgan Stanley reduced their price target on shares of Principal Financial Group from $70.00 to $69.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 11th. UBS Group upped their price target on shares of Principal Financial Group from $57.00 to $59.00 and gave the company a “neutral” rating in a research report on Monday, October 8th. Finally, Credit Suisse Group reduced their price target on shares of Principal Financial Group from $62.00 to $56.00 and set a “neutral” rating for the company in a research report on Friday, August 17th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Principal Financial Group has an average rating of “Hold” and a consensus price target of $66.40.
Shares of Principal Financial Group stock opened at $55.14 on Friday. 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 Inc has a one year low of $52.31 and a one year high of $75.58.
Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Thursday, July 26th. The financial services provider reported $1.35 EPS for the quarter, missing the Zacks’ consensus estimate of $1.37 by ($0.02). The firm had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.58 billion. Principal Financial Group had a return on equity of 13.55% and a net margin of 12.35%. During the same quarter in the previous year, the company posted $1.31 EPS. Analysts forecast that Principal Financial Group Inc will post 5.22 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Thursday, September 6th were given a dividend of $0.53 per share. The ex-dividend date was Wednesday, September 5th. This represents a $2.12 dividend on an annualized basis and a yield of 3.84%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.52.
In other Principal Financial Group news, insider James P. Mccaughan sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $55.42, for a total transaction of $1,108,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Amy Christine Friedrich sold 1,700 shares of the company’s stock in a transaction on Friday, October 5th. The stock was sold at an average price of $61.00, for a total transaction of $103,700.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,700 shares of company stock valued at $2,320,900. 1.50% of the stock is owned by insiders.
Principal Financial Group Profile
Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. It operates through Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.
See Also: Earnings Per Share (EPS)
Receive News & Ratings for Principal Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Principal Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.