Barclays PLC raised its position in Principal Financial Group, Inc. (NASDAQ:PFG – Get Rating) by 38.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 473,224 shares of the company’s stock after purchasing an additional 132,393 shares during the quarter. Barclays PLC owned about 0.19% of Principal Financial Group worth $34,141,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Fairfield Bush & CO. purchased a new stake in shares of Principal Financial Group in the 1st quarter valued at approximately $51,000. American Century Companies Inc. raised its stake in shares of Principal Financial Group by 25.8% in the 1st quarter. American Century Companies Inc. now owns 35,507 shares of the company’s stock valued at $2,607,000 after acquiring an additional 7,292 shares during the period. Panagora Asset Management Inc. raised its stake in shares of Principal Financial Group by 55.6% in the 1st quarter. Panagora Asset Management Inc. now owns 15,825 shares of the company’s stock valued at $1,162,000 after acquiring an additional 5,657 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Principal Financial Group by 5.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,506 shares of the company’s stock valued at $2,386,000 after acquiring an additional 1,564 shares during the period. Finally, Cibc World Market Inc. purchased a new stake in shares of Principal Financial Group in the 1st quarter valued at approximately $1,345,000. 74.21% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts have commented on the stock. The Goldman Sachs Group increased their price objective on shares of Principal Financial Group from $61.00 to $71.00 and gave the company a “sell” rating in a research report on Monday, January 9th. Royal Bank of Canada increased their price target on shares of Principal Financial Group from $75.00 to $88.00 in a report on Monday, October 31st. Morgan Stanley cut their price target on shares of Principal Financial Group from $79.00 to $75.00 and set an “underweight” rating for the company in a report on Tuesday, January 10th. JPMorgan Chase & Co. increased their price target on shares of Principal Financial Group from $72.00 to $78.00 and gave the company an “underweight” rating in a report on Friday, January 6th. Finally, Citigroup raised their target price on shares of Principal Financial Group from $62.00 to $65.00 in a report on Wednesday, November 16th. Eight equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $78.18.
Principal Financial Group Stock Up 1.2 %
Shares of NASDAQ:PFG opened at $87.96 on Friday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.42. The company has a fifty day simple moving average of $88.31 and a 200 day simple moving average of $81.89. The firm has a market cap of $21.52 billion, a PE ratio of 4.26, a price-to-earnings-growth ratio of 2.28 and a beta of 1.27. Principal Financial Group, Inc. has a 12-month low of $61.05 and a 12-month high of $96.17.
Principal Financial Group (NASDAQ:PFG – Get Rating) last issued its quarterly earnings results on Thursday, October 27th. The company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.24. The business had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.05 billion. Principal Financial Group had a net margin of 28.67% and a return on equity of 14.61%. On average, equities research analysts anticipate that Principal Financial Group, Inc. will post 6.49 EPS for the current fiscal year.
Principal Financial Group Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, December 19th. Stockholders of record on Thursday, December 1st were issued a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 2.91%. The ex-dividend date was Wednesday, November 30th. Principal Financial Group’s dividend payout ratio (DPR) is 12.41%.
Principal Financial Group Profile
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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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