Meiji Yasuda Life Insurance Co Boosts Position in Principal Financial Group Inc (NYSE:PFG)

Meiji Yasuda Life Insurance Co increased its position in Principal Financial Group Inc (NYSE:PFG) by 23.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,200 shares of the financial services provider’s stock after buying an additional 1,000 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Principal Financial Group were worth $333,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its holdings in shares of Principal Financial Group by 0.7% in the second quarter. Pacer Advisors Inc. now owns 5,569 shares of the financial services provider’s stock valued at $357,000 after buying an additional 38 shares during the period. Private Advisor Group LLC lifted its holdings in shares of 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 during the period. Cleararc Capital Inc. lifted its holdings in shares of 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 valued at $413,000 after buying an additional 60 shares during the period. Pitcairn Co. lifted its holdings in shares of Principal Financial Group by 1.5% in the second quarter. Pitcairn Co. now owns 4,312 shares of the financial services provider’s stock valued at $276,000 after buying an additional 63 shares during the period. Finally, Independent Advisor Alliance lifted its holdings in shares of Principal Financial Group by 1.3% in the first quarter. Independent Advisor Alliance now owns 6,240 shares of the financial services provider’s stock valued at $388,000 after buying an additional 82 shares during the period. Institutional investors and hedge funds own 68.19% of the company’s stock.

Several equities research analysts have recently commented on the company. Royal Bank Of Canada reaffirmed a “buy” rating and set a $73.00 target price on shares of Principal Financial Group in a report on Wednesday, July 12th. Zacks Investment Research lowered Principal Financial Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. BidaskClub lowered Principal Financial Group from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Wells Fargo & Company restated a “buy” rating on shares of Principal Financial Group in a research note on Thursday, June 29th. Finally, Barclays PLC increased their target price on Principal Financial Group from $61.00 to $63.00 and gave the stock an “equal weight” rating in a report on Friday, August 11th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $61.78.

In other Principal Financial Group news, insider Nora Mary Everett sold 14,630 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $64.60, for a total value of $945,098.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Karen E. Shaff sold 30,500 shares of the business’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $65.00, for a total transaction of $1,982,500.00. The disclosure for this sale can be found here. Insiders sold 286,925 shares of company stock valued at $18,513,769 over the last three months. 1.50% of the stock is currently owned by insiders.

Shares of Principal Financial Group Inc (NYSE PFG) traded down 0.24% during midday trading on Friday, hitting $61.86. The stock had a trading volume of 321,644 shares. The company has a market cap of $17.88 billion, a price-to-earnings ratio of 14.06 and a beta of 1.66. The stock’s 50-day moving average price is $63.94 and its 200 day moving average price is $63.76. Principal Financial Group Inc has a 52 week low of $47.87 and a 52 week high of $67.73.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.09. Principal Financial Group had a net margin of 10.15% and a return on equity of 13.57%. The business had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period in the previous year, the business earned $1.15 EPS. On average, equities analysts forecast that Principal Financial Group Inc will post $5.19 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be paid a $0.47 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.46. This represents a $1.88 annualized dividend and a yield of 3.03%. Principal Financial Group’s payout ratio is currently 42.73%.

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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.

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

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