Principal Financial Group Inc (NYSE:PFG) Shares Purchased by Wedge Capital Management L L P NC

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Wedge Capital Management L L P NC boosted its holdings in Principal Financial Group Inc (NYSE:PFG) by 5.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 547,807 shares of the financial services provider’s stock after buying an additional 29,656 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Principal Financial Group were worth $30,129,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PFG. Signature Wealth Management Group grew its holdings in Principal Financial Group by 0.3% in the third quarter. Signature Wealth Management Group now owns 57,432 shares of the financial services provider’s stock valued at $3,282,000 after purchasing an additional 190 shares during the period. Unison Advisors LLC boosted its holdings in shares of Principal Financial Group by 1.0% in the 4th quarter. Unison Advisors LLC now owns 20,315 shares of the financial services provider’s stock valued at $1,117,000 after purchasing an additional 197 shares during the last quarter. First Hawaiian Bank grew its stake in shares of Principal Financial Group by 2.3% during the 4th quarter. First Hawaiian Bank now owns 9,582 shares of the financial services provider’s stock valued at $527,000 after buying an additional 212 shares during the period. Parallel Advisors LLC grew its stake in shares of Principal Financial Group by 17.0% during the 3rd quarter. Parallel Advisors LLC now owns 1,567 shares of the financial services provider’s stock valued at $90,000 after buying an additional 228 shares during the period. Finally, Hartford Investment Management Co. increased its holdings in shares of Principal Financial Group by 0.9% during the 3rd quarter. Hartford Investment Management Co. now owns 32,452 shares of the financial services provider’s stock worth $1,854,000 after buying an additional 277 shares during the last quarter. Hedge funds and other institutional investors own 68.64% of the company’s stock.

PFG has been the topic of several research reports. UBS Group cut their target price on Principal Financial Group from $49.00 to $48.00 and set a “sell” rating on the stock in a research report on Thursday, October 10th. Morgan Stanley set a $56.00 price target on Principal Financial Group and gave the company a “hold” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $57.40.

PFG opened at $55.21 on Thursday. Principal Financial Group Inc has a 1 year low of $46.56 and a 1 year high of $60.81. The firm has a 50 day moving average price of $54.71 and a 200 day moving average price of $55.57.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.23). During the same quarter in the previous year, the business earned $1.67 EPS.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Tuesday, December 3rd were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date was Monday, December 2nd.

In related news, EVP Julia M. Lawler sold 1,000 shares of Principal Financial Group stock in a transaction on Friday, November 1st. The shares were sold at an average price of $53.94, for a total transaction of $53,940.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.50% of the company’s stock.

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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Want to see what other hedge funds are holding PFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Principal Financial Group Inc (NYSE:PFG).

Institutional Ownership by Quarter for Principal Financial Group (NYSE:PFG)

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