Cadence Capital Management LLC boosted its stake in shares of Principal Financial Group Inc (NYSE:PFG) by 6.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,818 shares of the financial services provider’s stock after buying an additional 1,282 shares during the quarter. Cadence Capital Management LLC’s holdings in Principal Financial Group were worth $995,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its holdings in Principal Financial Group by 16.6% during the 4th quarter. Bank of New York Mellon Corp now owns 8,137,409 shares of the financial services provider’s stock valued at $359,430,000 after buying an additional 1,155,996 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Principal Financial Group by 15.3% during the 4th quarter. Geode Capital Management LLC now owns 4,149,598 shares of the financial services provider’s stock valued at $183,017,000 after buying an additional 550,835 shares in the last quarter. FMR LLC lifted its holdings in Principal Financial Group by 65.1% during the 4th quarter. FMR LLC now owns 4,108,866 shares of the financial services provider’s stock valued at $181,489,000 after buying an additional 1,619,568 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Principal Financial Group by 7.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,963,240 shares of the financial services provider’s stock valued at $175,047,000 after buying an additional 264,669 shares in the last quarter. Finally, Norges Bank bought a new stake in Principal Financial Group during the 4th quarter valued at about $126,288,000. Institutional investors own 68.64% of the company’s stock.
In other news, EVP Julia M. Lawler sold 1,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $50.74, for a total value of $50,740.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 3,000 shares of company stock valued at $160,370. Company insiders own 1.50% of the company’s stock.
NYSE:PFG opened at $54.75 on Monday. Principal Financial Group Inc has a one year low of $40.42 and a one year high of $61.12.
Principal Financial Group (NYSE:PFG) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.32 by $0.11. The business had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the prior year, the firm posted $1.40 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 3rd will be issued a $0.54 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $2.16 annualized dividend and a dividend yield of 3.95%.
A number of brokerages recently weighed in on PFG. UBS Group decreased their price objective on shares of Principal Financial Group from $51.00 to $50.00 and set a “sell” rating for the company in a report on Tuesday, May 7th. Royal Bank of Canada lifted their price objective on shares of Principal Financial Group to $55.00 and gave the company a “market perform” rating in a report on Monday, April 29th. Zacks Investment Research upgraded shares of Principal Financial Group from a “sell” rating to a “hold” rating and set a $59.00 price objective for the company in a report on Wednesday, April 3rd. Finally, TheStreet upgraded shares of Principal Financial Group from a “c+” rating to a “b-” rating in a report on Monday, January 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. Principal Financial Group presently has an average rating of “Hold” and a consensus price target of $58.44.
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Principal Financial Group Company Profile
Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.
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