Principal Financial Group, Inc. $PFG Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC boosted its holdings in shares of Principal Financial Group, Inc. (NASDAQ:PFG) by 61.5% in the 4th quarter, Holdings Channel reports. The firm owned 14,775 shares of the company’s stock after buying an additional 5,625 shares during the period. Sequoia Financial Advisors LLC’s holdings in Principal Financial Group were worth $1,303,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Principal Financial Group during the fourth quarter valued at approximately $26,000. Quest 10 Wealth Builders Inc. raised its holdings in shares of Principal Financial Group by 343.6% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 346 shares of the company’s stock valued at $30,000 after acquiring an additional 268 shares during the period. FWL Investment Management LLC acquired a new stake in shares of Principal Financial Group during the third quarter valued at approximately $32,000. ST Germain D J Co. Inc. raised its holdings in shares of 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 valued at $35,000 after acquiring an additional 159 shares during the period. Finally, Rialto Wealth Management LLC raised its holdings in shares of Principal Financial Group by 3,754.5% during the fourth quarter. Rialto Wealth Management LLC now owns 424 shares of the company’s stock valued at $37,000 after acquiring an additional 413 shares during the period. 75.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PFG has been the topic of several research reports. UBS Group upped their price objective on shares of Principal Financial Group from $92.00 to $94.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Wells Fargo & Company dropped their price objective on shares of Principal Financial Group from $91.00 to $87.00 and set an “equal weight” rating on the stock in a research note on Friday, April 10th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $92.00 price objective on shares of Principal Financial Group in a research note on Thursday, March 26th. Morgan Stanley upped their price objective on shares of Principal Financial Group from $93.00 to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 3rd. Finally, Evercore set a $108.00 price objective on shares of Principal Financial Group in a research note on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $95.33.

Principal Financial Group Price Performance

NASDAQ:PFG opened at $100.84 on Wednesday. The company has a 50-day moving average of $93.03 and a 200-day moving average of $90.23. The company has a market capitalization of $21.78 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 0.95 and a beta of 0.89. Principal Financial Group, Inc. has a 52 week low of $75.00 and a 52 week high of $103.00. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.27 and a current ratio of 0.27.

Principal Financial Group (NASDAQ:PFG) last released its quarterly earnings data on Wednesday, April 29th. The company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.06. The company had revenue of $3.53 billion during the quarter, compared to the consensus estimate 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 last year, the firm earned $1.81 EPS. As a group, equities research analysts anticipate that Principal Financial Group, Inc. will post 9.31 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, June 1st. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.80. Principal Financial Group’s payout ratio is 45.78%.

Insider Transactions at Principal Financial Group

In related news, General Counsel George Djurasovic sold 2,571 shares of the 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 completion of the sale, the general counsel owned 21,906 shares in the company, valued at $2,208,781.98. This trade represents a 10.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Wee Yee Cheong sold 9,183 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $101.26, for a total transaction of $929,870.58. Following the sale, the insider owned 77,188 shares of the company’s stock, valued at $7,816,056.88. This trade represents a 10.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 17,572 shares of company stock valued at $1,776,769 in the last quarter. 1.13% of the stock is currently owned by corporate insiders.

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.