Cambria Investment Management L.P. bought a new position in Principal Financial Group Inc (NYSE:PFG) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 19,814 shares of the financial services provider’s stock, valued at approximately $1,250,000.
A number of other institutional investors have also recently made changes to their positions in PFG. Iowa State Bank increased its position in shares of Principal Financial Group by 1.5% in the first quarter. Iowa State Bank now owns 99,466 shares of the financial services provider’s stock worth $6,277,000 after buying an additional 1,494 shares in the last quarter. CENTRAL TRUST Co increased its position in shares of Principal Financial Group by 2.4% in the first quarter. CENTRAL TRUST Co now owns 2,176 shares of the financial services provider’s stock worth $137,000 after buying an additional 52 shares in the last quarter. Denali Advisors LLC increased its position in shares of Principal Financial Group by 35.3% in the first quarter. Denali Advisors LLC now owns 184,034 shares of the financial services provider’s stock worth $11,614,000 after buying an additional 47,987 shares in the last quarter. Wexford Capital LP purchased a new position in shares of Principal Financial Group during the fourth quarter worth $325,000. Finally, Chevy Chase Trust Holdings Inc. increased its position in shares of Principal Financial Group by 3.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 230,858 shares of the financial services provider’s stock worth $14,570,000 after buying an additional 6,913 shares in the last quarter. 70.57% of the stock is owned by institutional investors and hedge funds.
Shares of Principal Financial Group Inc (NYSE:PFG) traded down 1.78% on Wednesday, hitting $63.86. 1,099,195 shares of the stock were exchanged. Principal Financial Group Inc has a 12 month low of $38.03 and a 12 month high of $66.12. The company has a market cap of $18.41 billion, a PE ratio of 14.39 and a beta of 1.65. The company has a 50-day moving average price of $63.56 and a 200 day moving average price of $61.69.
Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, April 27th. The financial services provider reported $1.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.08. Principal Financial Group had a net margin of 10.37% and a return on equity of 13.35%. The business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period in the prior year, the business earned $0.97 EPS. Equities analysts forecast that Principal Financial Group Inc will post $5.04 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Monday, June 5th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Thursday, June 1st. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.45. This represents a $1.84 annualized dividend and a yield of 2.83%. Principal Financial Group’s dividend payout ratio is 41.44%.
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A number of equities analysts recently weighed in on PFG shares. Zacks Investment Research downgraded shares of Principal Financial Group from a “buy” rating to a “hold” rating in a research note on Tuesday, April 4th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $64.00 price target on shares of Principal Financial Group in a report on Tuesday, March 21st. Deutsche Bank AG raised their price target on shares of Principal Financial Group from $60.00 to $62.00 and gave the stock a “hold” rating in a report on Wednesday, April 19th. Finally, J P Morgan Chase & Co raised their price target on shares of Principal Financial Group from $53.00 to $56.00 and gave the stock an “underweight” rating in a report on Monday, April 3rd. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $57.82.
In related news, CFO Deanna D. Strable-Soethout sold 23,745 shares of the stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $65.00, for a total value of $1,543,425.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Luis E. Valdes sold 10,000 shares of the stock in a transaction dated Thursday, April 13th. The stock was sold at an average price of $62.00, for a total transaction of $620,000.00. The disclosure for this sale can be found here. Insiders sold a total of 284,059 shares of company stock valued at $18,183,043 over the last 90 days. Company insiders own 1.50% 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. Its segments include Retirement and Income Solutions; Principal Global Investors, Principal International; U.S. Insurance Solutions, and Corporate.
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