North Star Asset Management Inc. raised its position in Principal Financial Group Inc. (NYSE:PFG) by 3.1% during the second quarter, Holdings Channel reports. The institutional investor owned 350,983 shares of the company’s stock after buying an additional 10,481 shares during the period. Principal Financial Group makes up approximately 1.7% of North Star Asset Management Inc.’s portfolio, making the stock its 7th largest position. North Star Asset Management Inc.’s holdings in Principal Financial Group were worth $14,429,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the company. Ngam Advisors L.P. acquired a new position in shares of Principal Financial Group during the first quarter worth $465,000. BlackRock Group LTD raised its position in shares of Principal Financial Group by 2.2% in the first quarter. BlackRock Group LTD now owns 2,202,240 shares of the company’s stock worth $86,878,000 after buying an additional 47,210 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Principal Financial Group by 3.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,368,413 shares of the company’s stock worth $290,684,000 after buying an additional 227,460 shares in the last quarter. BlackRock Japan Co. Ltd raised its position in shares of Principal Financial Group by 0.5% in the first quarter. BlackRock Japan Co. Ltd now owns 358,502 shares of the company’s stock worth $14,143,000 after buying an additional 1,958 shares in the last quarter. Finally, Columbia Partners L L C Investment Management acquired a new position in shares of Principal Financial Group during the first quarter worth $954,000. Institutional investors and hedge funds own 67.13% of the company’s stock.
Principal Financial Group Inc. (NYSE:PFG) traded down 1.29% during midday trading on Thursday, reaching $52.03. The company’s stock had a trading volume of 1,311,394 shares. The firm has a market cap of $14.96 billion, a price-to-earnings ratio of 12.37 and a beta of 1.66. Principal Financial Group Inc. has a 12-month low of $33.09 and a 12-month high of $53.11. The company’s 50-day moving average is $49.91 and its 200 day moving average is $44.79.
Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Thursday, July 28th. The company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.09. Principal Financial Group had a net margin of 10.20% and a return on equity of 12.52%. During the same quarter in the prior year, the business posted $1.09 EPS. Equities analysts forecast that Principal Financial Group Inc. will post $4.37 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 2nd were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.11%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.39. The ex-dividend date was Wednesday, August 31st. Principal Financial Group’s payout ratio is 38.86%.
A number of equities analysts have weighed in on PFG shares. Bank of America Corp. lowered Principal Financial Group from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 29th. Zacks Investment Research lowered Principal Financial Group from a “hold” rating to a “sell” rating in a research report on Monday, July 4th. Evercore ISI started coverage on Principal Financial Group in a research report on Wednesday, July 6th. They set a “buy” rating and a $48.00 price objective on the stock. Deutsche Bank AG reduced their price objective on Principal Financial Group from $46.00 to $43.00 and set a “hold” rating on the stock in a research report on Thursday, July 7th. Finally, Barclays PLC increased their price objective on Principal Financial Group from $41.00 to $47.00 and gave the company an “equal weight” rating in a research report on Friday, July 29th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $48.73.
In other Principal Financial Group news, EVP Timothy Mark Dunbar sold 5,000 shares of the business’s stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $52.00, for a total transaction of $260,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.78% of the company’s stock.
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 services. The Company’s segments include Retirement and Income Solutions; Principal Global Investors, Principal International, and U.S.
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