Retirement Systems of Alabama decreased its position in shares of Principal Financial Group Inc. (NYSE:PFG) by 1.0% during the second quarter, Holdings Channel reports. The firm owned 137,425 shares of the company’s stock after selling 1,338 shares during the period. Retirement Systems of Alabama’s holdings in Principal Financial Group were worth $5,650,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in PFG. PGGM Investments boosted its position in shares of Principal Financial Group by 4.9% in the second quarter. PGGM Investments now owns 204,844 shares of the company’s stock worth $8,421,000 after buying an additional 9,658 shares during the period. Strs Ohio boosted its position in shares of Principal Financial Group by 25.5% in the second quarter. Strs Ohio now owns 19,985 shares of the company’s stock worth $821,000 after buying an additional 4,063 shares during the period. Grimes & Company Inc. boosted its position in shares of Principal Financial Group by 15.9% in the second quarter. Grimes & Company Inc. now owns 146,957 shares of the company’s stock worth $6,041,000 after buying an additional 20,204 shares during the period. NewSquare Capital LLC boosted its position in shares of Principal Financial Group by 19.6% in the second quarter. NewSquare Capital LLC now owns 17,582 shares of the company’s stock worth $723,000 after buying an additional 2,883 shares during the period. Finally, Bank of Montreal Can bought a new position in shares of Principal Financial Group during the second quarter worth about $24,322,000. 67.13% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Principal Financial Group Inc. (NYSE:PFG) traded up 0.40% during trading on Wednesday, reaching $52.71. 1,082,507 shares of the company were exchanged. The company’s 50-day moving average is $49.76 and its 200 day moving average is $44.73. Principal Financial Group Inc. has a 1-year low of $33.09 and a 1-year high of $53.11. The firm has a market capitalization of $15.16 billion, a PE ratio of 12.53 and a beta of 1.66.
Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Thursday, July 28th. The company reported $1.15 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 period last year, the company posted $1.09 EPS. Equities research analysts expect that Principal Financial Group Inc. will post $4.37 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 2nd were given a $0.41 dividend. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.39. This represents a $1.64 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date was Wednesday, August 31st. Principal Financial Group’s dividend payout ratio is 38.86%.
PFG has been the topic of several recent analyst reports. Credit Suisse Group AG initiated coverage on Principal Financial Group in a research note on Friday, October 7th. They issued an “underperform” rating and a $53.00 target price on the stock. Zacks Investment Research cut Principal Financial Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Goldman Sachs Group Inc. raised their target price on Principal Financial Group from $40.00 to $45.00 and gave the stock a “sell” rating in a research note on Friday, September 23rd. Wells Fargo & Co. reissued an “outperform” rating on shares of Principal Financial Group in a research note on Friday, September 23rd. Finally, RBC Capital Markets set a $52.00 target price on Principal Financial Group and gave the stock a “buy” rating in a research note on Friday, August 19th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $48.73.
In other Principal Financial Group news, EVP Timothy Mark Dunbar sold 5,000 shares of the company’s stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $52.00, for a total value of $260,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. 1.78% of the stock is currently owned by corporate insiders.
Principal Financial Group Company Profile
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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