LS Investment Advisors LLC increased its stake in shares of Principal Financial Group Inc (NYSE:PFG) by 2.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,640 shares of the financial services provider’s stock after buying an additional 334 shares during the quarter. LS Investment Advisors LLC’s holdings in Principal Financial Group were worth $785,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of PFG. Norges Bank acquired a new position in Principal Financial Group during the 4th quarter worth $126,288,000. Oregon Public Employees Retirement Fund lifted its holdings in Principal Financial Group by 9,050.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,676,349 shares of the financial services provider’s stock worth $61,000 after buying an additional 2,647,101 shares during 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 worth $181,489,000 after buying an additional 1,619,568 shares during the last quarter. 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 worth $359,430,000 after buying an additional 1,155,996 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. lifted its holdings in Principal Financial Group by 130.0% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,179,613 shares of the financial services provider’s stock worth $52,104,000 after buying an additional 666,657 shares during the last quarter. Institutional investors own 68.64% of the company’s stock.
A number of analysts have issued reports on PFG shares. TheStreet raised Principal Financial Group from a “c+” rating to a “b-” rating in a report on Monday, January 28th. Zacks Investment Research raised Principal Financial Group from a “sell” rating to a “hold” rating and set a $59.00 target price for the company in a report on Wednesday, April 3rd. Royal Bank of Canada boosted their target price on Principal Financial Group to $55.00 and gave the company a “market perform” rating in a report on Monday, April 29th. Finally, UBS Group reduced their target price on Principal Financial Group from $51.00 to $50.00 and set a “sell” rating for the company in a report on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $58.44.
NYSE PFG traded down $0.40 on Wednesday, hitting $54.92. 1,233,839 shares of the company’s stock were exchanged, compared to its average volume of 1,622,392. Principal Financial Group Inc has a fifty-two week low of $40.42 and a fifty-two week high of $61.12.
Principal Financial Group (NYSE:PFG) last released its earnings results on Thursday, April 25th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.11. The business had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same quarter in the previous year, the firm posted $1.40 EPS.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend is Friday, May 31st.
In related news, EVP Julia M. Lawler sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $50.74, for a total value of $50,740.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders sold 3,000 shares of company stock worth $160,370. Insiders own 1.50% of the company’s stock.
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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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