Amalgamated Bank increased its stake in shares of Principal Financial Group Inc (NYSE:PFG) by 6.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 18,786 shares of the financial services provider’s stock after buying an additional 1,082 shares during the period. Amalgamated Bank’s holdings in Principal Financial Group were worth $1,186,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Private Advisor Group LLC boosted its position in Principal Financial Group by 1.1% in the first quarter. Private Advisor Group LLC now owns 3,643 shares of the financial services provider’s stock valued at $228,000 after buying an additional 40 shares in the last quarter. Foster & Motley Inc. raised its position in shares of Principal Financial Group by 1.3% in the first quarter. Foster & Motley Inc. now owns 3,674 shares of the financial services provider’s stock worth $232,000 after buying an additional 47 shares in the last quarter. CENTRAL TRUST Co boosted its stake in Principal Financial Group by 2.4% in the first quarter. CENTRAL TRUST Co now owns 2,176 shares of the financial services provider’s stock worth $137,000 after buying an additional 52 shares during the last quarter. Cleararc Capital Inc. boosted its stake in Principal Financial Group by 0.9% in the first quarter. Cleararc Capital Inc. now owns 6,546 shares of the financial services provider’s stock worth $413,000 after buying an additional 60 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Principal Financial Group by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,337 shares of the financial services provider’s stock valued at $887,000 after buying an additional 61 shares in the last quarter. 70.57% of the stock is currently owned by institutional investors.
Principal Financial Group Inc (NYSE:PFG) traded up 0.76% during trading on Friday, reaching $64.61. 1,270,195 shares of the company traded hands. Principal Financial Group Inc has a 52 week low of $38.84 and a 52 week high of $66.12. The company’s 50-day moving average price is $63.41 and its 200 day moving average price is $61.84. The firm has a market capitalization of $18.62 billion, a price-to-earnings ratio of 14.56 and a beta of 1.65.
Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, April 27th. The financial services provider reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.08. Principal Financial Group had a return on equity of 13.35% and a net margin of 10.37%. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter last year, the company earned $0.97 earnings per share. On average, equities research analysts expect that Principal Financial Group Inc will post $5.05 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Monday, June 5th were paid a $0.46 dividend. The ex-dividend date was Thursday, June 1st. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.45. This represents a $1.84 dividend on an annualized basis and a yield of 2.85%. Principal Financial Group’s dividend payout ratio (DPR) is 41.44%.
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PFG has been the topic of several research analyst reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $64.00 price objective on shares of Principal Financial Group in a research note on Tuesday, March 21st. J P Morgan Chase & Co increased their target price on shares of Principal Financial Group from $53.00 to $56.00 and gave the stock an “underweight” rating in a report on Monday, April 3rd. Zacks Investment Research downgraded shares of Principal Financial Group from a “buy” rating to a “hold” rating in a research report on Tuesday, April 4th. Deutsche Bank AG lifted their price objective on shares of Principal Financial Group from $60.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday, April 19th. Finally, Wells Fargo & Company reaffirmed a “buy” rating on shares of Principal Financial Group in a report on Thursday, June 29th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. Principal Financial Group currently has an average rating of “Hold” and a consensus target price of $58.80.
In other news, EVP Timothy Mark Dunbar sold 24,905 shares of the firm’s stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $65.00, for a total value of $1,618,825.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Karen E. Shaff sold 38,105 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $65.05, for a total value of $2,478,730.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 385,212 shares of company stock valued at $24,704,655. 1.50% of the stock is currently owned by company insiders.
About Principal Financial Group
Principal Financial Group, Inc is an investment management company. The Company offers a range of financial products and services, including retirement, asset management and insurance. Its segments include Retirement and Income Solutions; Principal Global Investors, Principal International; U.S. Insurance Solutions, and Corporate.
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