Dorsey & Whitney Trust CO LLC Sells 4,749 Shares of Principal Financial Group, Inc. $PFG

Dorsey & Whitney Trust CO LLC trimmed its position in Principal Financial Group, Inc. (NASDAQ:PFG) by 11.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,816 shares of the company’s stock after selling 4,749 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Principal Financial Group were worth $3,336,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Hilton Head Capital Partners LLC bought a new stake in shares of Principal Financial Group in the fourth quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Principal Financial Group in the fourth quarter worth about $26,000. Quest 10 Wealth Builders Inc. grew its position in 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 acquiring an additional 268 shares in the last quarter. FWL Investment Management LLC purchased a new position in Principal Financial Group in the third quarter worth about $32,000. Finally, ST Germain D J Co. Inc. grew its position in Principal Financial Group by 66.5% in the fourth 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 in the last quarter. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Stock Up 2.4%

Shares of NASDAQ:PFG opened at $109.21 on Thursday. Principal Financial Group, Inc. has a 52-week low of $75.00 and a 52-week high of $109.89. The stock has a market cap of $23.59 billion, a P/E ratio of 15.62, a price-to-earnings-growth ratio of 1.00 and a beta of 0.88. The business’s 50 day moving average is $99.13 and its 200 day moving average is $93.33. 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 (NASDAQ:PFG) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.06. Principal Financial Group had a return on equity of 16.25% and a net margin of 10.10%.The company had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $4.11 billion. During the same quarter in the prior year, the firm earned $1.81 earnings per share. Sell-side analysts predict that Principal Financial Group, Inc. will post 9.36 EPS for the current year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Monday, June 1st will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 3.0%. This is an increase 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 payout ratio is currently 46.92%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PFG. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $92.00 price target on shares of Principal Financial Group in a research report on Thursday, March 26th. Weiss Ratings lowered Principal Financial Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 1st. Morgan Stanley lifted their price target on 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. UBS Group lifted their price target on Principal Financial Group from $92.00 to $94.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Finally, Evercore set a $108.00 price target on Principal Financial Group in a research report on Monday, April 27th. 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, the stock currently has an average rating of “Hold” and an average price target of $98.10.

Insider Activity at Principal Financial Group

In other Principal Financial Group news, insider Wee Yee Cheong sold 9,183 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $101.26, for a total transaction of $929,870.58. Following the completion of the sale, the insider owned 77,188 shares in the company, valued at $7,816,056.88. This represents a 10.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel George Djurasovic sold 2,571 shares of the company’s stock in a transaction 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 sale, 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 disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 28,317 shares of company stock worth $2,884,902. 1.13% of the stock is owned by insiders.

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.