Principal Financial Group, Inc. $PFG Shares Purchased by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. increased its stake in shares of Principal Financial Group, Inc. (NASDAQ:PFG) by 5.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,498,766 shares of the company’s stock after purchasing an additional 135,631 shares during the quarter. Goldman Sachs Group Inc. owned 1.12% of Principal Financial Group worth $220,416,000 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 during the 4th quarter worth $26,000. Quest 10 Wealth Builders Inc. grew its stake in Principal Financial Group by 343.6% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 346 shares of the company’s stock worth $30,000 after purchasing an additional 268 shares in the last quarter. FWL Investment Management LLC acquired a new position in Principal Financial Group during the 3rd quarter worth $32,000. ST Germain D J Co. Inc. grew its stake in Principal Financial Group by 66.5% during the 4th quarter. ST Germain D J Co. Inc. now owns 398 shares of the company’s stock worth $35,000 after purchasing an additional 159 shares in the last quarter. Finally, Rialto Wealth Management LLC grew its stake in Principal Financial Group by 3,754.5% during the 4th quarter. Rialto Wealth Management LLC now owns 424 shares of the company’s stock worth $37,000 after purchasing an additional 413 shares in the last quarter. 75.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Principal Financial Group news, General Counsel George Djurasovic sold 2,571 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $100.83, for a total transaction of $259,233.93. Following the transaction, the general counsel owned 21,906 shares in the company, valued at approximately $2,208,781.98. The trade was a 10.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Wee Yee Cheong sold 9,183 shares of Principal Financial Group stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $101.26, for a total value of $929,870.58. Following the completion of the sale, the insider owned 77,188 shares in the company, valued at approximately $7,816,056.88. This trade represents a 10.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 28,317 shares of company stock worth $2,884,902 in the last 90 days. 1.13% of the stock is currently owned by insiders.

Principal Financial Group Stock Performance

Shares of PFG stock opened at $105.22 on Friday. The stock 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. Principal Financial Group, Inc. has a 52-week low of $75.00 and a 52-week high of $105.56. The stock’s 50-day moving average price is $97.99 and its 200 day moving average price is $92.73. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.33.

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, beating the consensus estimate of $2.01 by $0.06. The firm had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $4.11 billion. Principal Financial Group had a return on equity of 16.25% and a net margin of 10.10%.During the same quarter in the previous year, the firm posted $1.81 EPS. As a group, equities research analysts forecast that Principal Financial Group, Inc. will post 9.36 EPS for the current year.

Principal Financial Group Increases Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Wells Fargo & Company decreased their price target on Principal Financial Group from $91.00 to $87.00 and set an “equal weight” rating for the company in a report on Friday, April 10th. Raymond James Financial downgraded Principal Financial Group from a “strong-buy” rating to an “outperform” rating and lifted their price target for the stock from $99.00 to $111.00 in a report on Tuesday, May 19th. Evercore set a $108.00 price target on Principal Financial Group in a report on Monday, April 27th. UBS Group lifted their price target on Principal Financial Group from $92.00 to $94.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Finally, Morgan Stanley lifted their price target on Principal Financial Group from $95.00 to $107.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Principal Financial Group presently has an average rating of “Hold” and a consensus price target of $98.10.

Principal Financial Group Profile

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.