AlphaQuest LLC Purchases 20,709 Shares of Principal Financial Group, Inc. $PFG

AlphaQuest LLC increased its position in shares of Principal Financial Group, Inc. (NASDAQ:PFG) by 212.9% during the 4th quarter, Holdings Channel reports. The fund owned 30,437 shares of the company’s stock after buying an additional 20,709 shares during the quarter. AlphaQuest LLC’s holdings in Principal Financial Group were worth $2,685,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of PFG. Thurston Springer Miller Herd & Titak Inc. bought a new position in Principal Financial Group during the 4th quarter worth approximately $26,000. Quest 10 Wealth Builders Inc. boosted its stake in Principal Financial Group by 343.6% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 346 shares of the company’s stock worth $30,000 after acquiring an additional 268 shares during the last quarter. FWL Investment Management LLC bought a new position in Principal Financial Group during the 3rd quarter worth approximately $32,000. ST Germain D J Co. Inc. boosted its stake in Principal Financial Group by 66.5% during the 4th quarter. ST Germain D J Co. Inc. now owns 398 shares of the company’s stock worth $35,000 after acquiring an additional 159 shares during the last quarter. Finally, Rialto Wealth Management LLC lifted its stake in Principal Financial Group by 3,754.5% in the fourth quarter. Rialto Wealth Management LLC now owns 424 shares of the company’s stock valued at $37,000 after buying an additional 413 shares in the last quarter. Institutional investors own 75.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PFG shares. Bank of America cut their price target on shares of Principal Financial Group from $96.00 to $92.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Barclays lifted their price target on shares of Principal Financial Group from $85.00 to $87.00 and gave the company an “underweight” rating in a research note on Friday, April 24th. Morgan Stanley lifted their price target on shares of Principal Financial Group from $95.00 to $107.00 and gave the company an “equal weight” rating in a research note on Thursday, May 21st. Wells Fargo & Company cut their price target on shares of Principal Financial Group from $91.00 to $87.00 and set an “equal weight” rating on the stock in a research note on Friday, April 10th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $92.00 price target on shares of Principal Financial Group in a research note on Thursday, March 26th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $98.10.

Insiders Place Their Bets

In related news, insider Wee Yee Cheong sold 9,183 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $101.26, for a total transaction of $929,870.58. Following the transaction, the insider directly owned 77,188 shares in the company, valued at approximately $7,816,056.88. The trade was a 10.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel George Djurasovic sold 2,571 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $100.83, for a total transaction of $259,233.93. Following the transaction, the general counsel 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 90 days, insiders have sold 28,317 shares of company stock worth $2,884,902. 1.13% of the stock is owned by corporate insiders.

Principal Financial Group Price Performance

NASDAQ PFG opened at $104.71 on Wednesday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.33. Principal Financial Group, Inc. has a 12-month low of $75.00 and a 12-month high of $104.95. The company has a market capitalization of $22.62 billion, a PE ratio of 14.98, a price-to-earnings-growth ratio of 0.98 and a beta of 0.89. The firm’s 50 day moving average is $95.34 and its 200-day moving average is $91.70.

Principal Financial Group (NASDAQ:PFG) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $4.11 billion. During the same period last year, the company earned $1.81 earnings per share. Equities 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 company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Monday, June 1st will be issued a dividend of $0.82 per share. The ex-dividend date is Monday, June 1st. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.80. This represents a $3.28 dividend on an annualized basis and a yield of 3.1%. Principal Financial Group’s dividend payout ratio is presently 45.78%.

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.