Hsbc Holdings PLC Grows Stock Holdings in Principal Financial Group, Inc. $PFG

Hsbc Holdings PLC boosted its stake in shares of Principal Financial Group, Inc. (NASDAQ:PFG) by 1.8% during the fourth quarter, Holdings Channel reports. The firm owned 812,064 shares of the company’s stock after purchasing an additional 14,356 shares during the quarter. Hsbc Holdings PLC’s holdings in Principal Financial Group were worth $71,720,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PFG. National Wealth Management Group LLC bought a new stake in shares of Principal Financial Group during the 4th quarter valued at $998,000. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Principal Financial Group in the 4th quarter worth $32,473,000. Wealth Enhancement Advisory Services LLC raised its holdings in Principal Financial Group by 47.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 50,386 shares of the company’s stock worth $4,630,000 after purchasing an additional 16,171 shares during the period. LBP AM SA bought a new position in Principal Financial Group in the 4th quarter worth $10,400,000. Finally, VCI Wealth Management LLC purchased a new position in Principal Financial Group during the fourth quarter valued at $1,650,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

Shares of PFG stock opened at $110.87 on Friday. Principal Financial Group, Inc. has a 52-week low of $75.00 and a 52-week high of $112.45. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.27 and a current ratio of 0.27. The firm has a market capitalization of $23.95 billion, a PE ratio of 15.86, a PEG ratio of 1.11 and a beta of 0.88. The stock has a fifty day simple moving average of $104.72 and a two-hundred day simple moving average of $96.03.

Principal Financial Group (NASDAQ:PFG) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $4.11 billion. During the same period last year, the firm earned $1.81 earnings per share. On average, analysts predict that Principal Financial Group, Inc. will post 9.37 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Monday, June 1st were given a dividend of $0.82 per share. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.80. This represents a $3.28 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Monday, June 1st. Principal Financial Group’s dividend payout ratio (DPR) is 46.92%.

Insider Activity at Principal Financial Group

In related news, insider Wee Yee Cheong sold 7,534 shares of the business’s stock in a transaction that occurred on 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 directly owned 66,443 shares of the company’s stock, valued at approximately $6,854,259.88. The trade was a 10.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel George Djurasovic sold 2,571 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the general counsel directly owned 21,906 shares in the company, valued at approximately $2,208,781.98. This represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 28,317 shares of company stock worth $2,884,902 in the last three months. 1.13% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Morgan Stanley boosted their price target on Principal Financial Group from $95.00 to $107.00 and gave the company an “equal weight” rating in a report on Thursday, May 21st. Wells Fargo & Company decreased their price objective on 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. Citigroup cut Principal Financial Group from a “sell” rating to an “underperform” rating in a research report on Wednesday, June 24th. Raymond James Financial downgraded Principal Financial Group from a “strong-buy” rating to an “outperform” rating and boosted their price objective for the company from $99.00 to $111.00 in a research note on Tuesday, May 19th. Finally, Bank of America reissued an “underperform” rating and issued a $95.00 target price (down from $98.00) on shares of Principal Financial Group in a report on Wednesday, June 24th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Principal Financial Group currently has an average rating of “Hold” and an average price target of $100.90.

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.