Amalgamated Bank increased its position in shares of Principal Financial Group Inc (NYSE:PFG) by 6.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (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 quarter.
A number of other large investors also recently bought and sold shares of PFG. Commerzbank Aktiengesellschaft FI raised its stake in Principal Financial Group by 19.4% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 8,406 shares of the financial services provider’s stock worth $486,000 after buying an additional 1,365 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in 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 worth $887,000 after buying an additional 61 shares during the last quarter. Private Advisor Group LLC bought a new stake in Principal Financial Group during the fourth quarter worth about $211,000. Baird Financial Group Inc. bought a new stake in Principal Financial Group during the fourth quarter worth about $513,000. Finally, Allianz Asset Management AG raised its stake in Principal Financial Group by 7.8% in the fourth quarter. Allianz Asset Management AG now owns 373,410 shares of the financial services provider’s stock worth $21,605,000 after buying an additional 26,870 shares during the last quarter. 70.57% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Principal Financial Group Inc (NYSE:PFG) traded up 0.81% on Monday, hitting $65.88. The company had a trading volume of 838,001 shares. The company has a market cap of $18.99 billion, a price-to-earnings ratio of 14.84 and a beta of 1.65. The company has a 50 day moving average of $63.53 and a 200-day moving average of $61.52. Principal Financial Group Inc has a 12-month low of $38.03 and a 12-month high of $66.12.
Principal Financial Group (NYSE:PFG) last issued its earnings results on Thursday, April 27th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.08. The company had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3.16 billion. Principal Financial Group had a net margin of 10.37% and a return on equity of 13.35%. During the same quarter last year, the business posted $0.97 EPS. On average, analysts forecast that Principal Financial Group Inc will post $5.04 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Monday, June 5th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, June 1st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.79%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.45. Principal Financial Group’s dividend payout ratio (DPR) is 41.44%.
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PFG has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $64.00 target price on shares of Principal Financial Group in a research note on Tuesday, March 21st. J P Morgan Chase & Co upped their target price on Principal Financial Group from $53.00 to $56.00 and gave the company an “underweight” rating in a research note on Monday, April 3rd. Zacks Investment Research lowered Principal Financial Group from a “buy” rating to a “hold” rating in a research note on Tuesday, April 4th. Finally, Deutsche Bank AG increased their price target on Principal Financial Group from $60.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday, April 19th. Three analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $57.82.
In other Principal Financial Group news, EVP Timothy Mark Dunbar sold 24,905 shares of Principal Financial Group stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $65.00, for a total transaction of $1,618,825.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James P. Mccaughan sold 5,000 shares of Principal Financial Group stock in a transaction on Thursday, April 6th. The shares were sold at an average price of $62.65, for a total transaction of $313,250.00. The disclosure for this sale can be found here. Insiders have sold a total of 284,059 shares of company stock valued at $18,183,043 in the last three months. Company insiders own 1.50% of the company’s stock.
Principal Financial Group Company Profile
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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