Intech Investment Management LLC Trims Position in Principal Financial Group, Inc. $PFG

Intech Investment Management LLC lessened its stake in shares of Principal Financial Group, Inc. (NASDAQ:PFG) by 32.7% during the 4th quarter, Holdings Channel reports. The fund owned 11,441 shares of the company’s stock after selling 5,557 shares during the quarter. Intech Investment Management LLC’s holdings in Principal Financial Group were worth $1,009,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PFG. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Principal Financial Group in the fourth quarter valued at about $26,000. Quest 10 Wealth Builders Inc. boosted its stake in Principal Financial Group by 343.6% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 346 shares of the company’s stock worth $30,000 after buying an additional 268 shares during the period. FWL Investment Management LLC purchased a new position in Principal Financial Group during the third quarter worth about $32,000. ST Germain D J Co. Inc. boosted its stake in Principal Financial Group by 66.5% during the fourth quarter. ST Germain D J Co. Inc. now owns 398 shares of the company’s stock worth $35,000 after buying an additional 159 shares during the period. Finally, Rialto Wealth Management LLC boosted its stake in Principal Financial Group by 3,754.5% during the fourth quarter. Rialto Wealth Management LLC now owns 424 shares of the company’s stock worth $37,000 after buying an additional 413 shares during the period. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Price Performance

Shares of NASDAQ:PFG opened at $105.22 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.27 and a quick ratio of 0.27. The firm has a market capitalization of $22.73 billion, a PE ratio of 15.05, a price-to-earnings-growth ratio of 0.99 and a beta of 0.88. The firm’s 50-day moving average is $97.99 and its two-hundred day moving average is $92.82. Principal Financial Group, Inc. has a 1 year low of $75.00 and a 1 year high of $105.56.

Principal Financial Group (NASDAQ:PFG) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.06. The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $4.11 billion. Principal Financial Group had a net margin of 10.10% and a return on equity of 16.25%. During the same period in the prior year, the firm earned $1.81 earnings per share. Analysts predict that Principal Financial Group, Inc. will post 9.36 EPS for the current year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 3.1%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.80. The ex-dividend date is Monday, June 1st. Principal Financial Group’s payout ratio is currently 46.92%.

Insider Transactions at Principal Financial Group

In other Principal Financial Group news, General Counsel George Djurasovic sold 2,571 shares of the business’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $100.83, for a total transaction of $259,233.93. Following the sale, the general counsel directly owned 21,906 shares in the company, valued at $2,208,781.98. This represents a 10.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Wee Yee Cheong sold 7,534 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $103.16, for a total transaction of $777,207.44. Following the sale, the insider owned 66,443 shares in the company, valued at $6,854,259.88. This trade represents a 10.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 28,317 shares of company stock worth $2,884,902 over the last quarter. Insiders own 1.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Bank of America lowered their target price on shares of Principal Financial Group from $96.00 to $92.00 and set a “neutral” rating for the company in a research note on Tuesday, April 14th. Weiss Ratings lowered shares of Principal Financial Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 1st. Morgan Stanley increased their target price on shares of Principal Financial Group from $95.00 to $107.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 21st. Wells Fargo & Company lowered their target price on shares of Principal Financial Group from $91.00 to $87.00 and set an “equal weight” rating for the company in a research note on Friday, April 10th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $92.00 target price on shares of Principal Financial Group in a research note on Thursday, March 26th. Three 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 data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $98.10.

About Principal Financial Group

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.