Principal Financial Group, Inc. $PFG Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP increased its holdings in Principal Financial Group, Inc. (NASDAQ:PFG) by 19.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 198,492 shares of the company’s stock after acquiring an additional 32,105 shares during the quarter. Quantinno Capital Management LP owned approximately 0.09% of Principal Financial Group worth $17,886,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the business. DV Equities LLC purchased a new position in shares of Principal Financial Group during the 4th quarter valued at approximately $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Principal Financial Group during the 4th quarter valued at $26,000. Hilton Head Capital Partners LLC bought a new position in Principal Financial Group during the 4th quarter valued at $26,000. Valley Wealth Managers Inc. acquired a new position in Principal Financial Group during the 1st quarter worth $27,000. Finally, MBM Wealth Consultants LLC bought a new stake in shares of Principal Financial Group in the 1st quarter worth about $28,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Trading Up 0.0%

Principal Financial Group stock opened at $113.73 on Monday. Principal Financial Group, Inc. has a 12-month low of $75.00 and a 12-month high of $114.95. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.28 and a quick ratio of 0.28. The stock has a market capitalization of $24.35 billion, a PE ratio of 16.15, a price-to-earnings-growth ratio of 1.04 and a beta of 0.87. The firm has a 50 day simple moving average of $109.18 and a 200-day simple moving average of $99.21.

Principal Financial Group (NASDAQ:PFG) last released its quarterly earnings data on Monday, July 27th. The company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.17. The business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.11 billion. Principal Financial Group had a return on equity of 16.49% and a net margin of 9.93%.During the same period last year, the company posted $2.16 EPS. As a group, equities research analysts expect that Principal Financial Group, Inc. will post 9.51 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 3rd will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.0%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Thursday, September 3rd. Principal Financial Group’s dividend payout ratio (DPR) is currently 46.59%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Jefferies Financial Group boosted their price objective on Principal Financial Group from $91.00 to $98.00 and gave the company a “hold” rating in a report on Friday, July 10th. Keefe, Bruyette & Woods increased their target price on Principal Financial Group from $102.00 to $112.00 and gave the stock a “market perform” rating in a report on Monday, July 13th. Barclays lifted their target price on Principal Financial Group from $87.00 to $92.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 7th. Raymond James Financial lowered Principal Financial Group from a “strong-buy” rating to an “outperform” rating and upped their price target for the company from $99.00 to $111.00 in a research report on Tuesday, May 19th. Finally, Bank of America raised their price objective on Principal Financial Group from $94.00 to $104.00 and gave the stock an “underperform” rating in a research note on Tuesday, July 28th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Principal Financial Group presently has a consensus rating of “Hold” and a consensus price target of $105.75.

Insider Activity

In related news, insider Wee Yee Cheong sold 7,534 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $103.16, for a total value of $777,207.44. Following the completion of the sale, the insider owned 66,443 shares of the company’s stock, valued at approximately $6,854,259.88. The trade was a 10.18% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.13% of the company’s stock.

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.