AIA Group Ltd boosted its position in Principal Financial Group, Inc. (NASDAQ:PFG – Get Rating) by 104.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,787 shares of the company’s stock after purchasing an additional 1,939 shares during the period. AIA Group Ltd’s holdings in Principal Financial Group were worth $318,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. Kestra Advisory Services LLC lifted its stake in Principal Financial Group by 20.3% in the fourth quarter. Kestra Advisory Services LLC now owns 36,388 shares of the company’s stock valued at $3,054,000 after purchasing an additional 6,142 shares during the last quarter. AE Wealth Management LLC raised its holdings in Principal Financial Group by 46.3% during the 4th quarter. AE Wealth Management LLC now owns 223,308 shares of the company’s stock valued at $18,740,000 after acquiring an additional 70,659 shares during the period. Balentine LLC raised its holdings in Principal Financial Group by 4.6% during the 4th quarter. Balentine LLC now owns 10,178 shares of the company’s stock valued at $854,000 after acquiring an additional 444 shares during the period. Wedbush Securities Inc. raised its holdings in Principal Financial Group by 3.9% during the 4th quarter. Wedbush Securities Inc. now owns 5,436 shares of the company’s stock valued at $456,000 after acquiring an additional 203 shares during the period. Finally, Syntal Capital Partners LLC bought a new stake in Principal Financial Group during the 4th quarter valued at $1,336,000. Hedge funds and other institutional investors own 74.21% of the company’s stock.
Principal Financial Group Stock Performance
Shares of NASDAQ PFG opened at $75.89 on Friday. The stock has a market cap of $18.44 billion, a price-to-earnings ratio of 4.03, a P/E/G ratio of 1.35 and a beta of 1.27. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.40. Principal Financial Group, Inc. has a 1-year low of $61.05 and a 1-year high of $96.17. The stock’s 50-day moving average is $80.83 and its 200 day moving average is $84.90.
Principal Financial Group Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Wednesday, March 15th were issued a dividend of $0.64 per share. The ex-dividend date of this dividend was Tuesday, March 14th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.37%. Principal Financial Group’s dividend payout ratio is 13.60%.
Insider Activity at Principal Financial Group
In related news, SVP Kenneth A. Mccullum sold 3,694 shares of the firm’s stock in a transaction that occurred on Saturday, March 18th. The stock was sold at an average price of $69.50, for a total transaction of $256,733.00. Following the transaction, the senior vice president now directly owns 29,244 shares in the company, valued at approximately $2,032,458. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.17% of the stock is currently owned by insiders.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the stock. Morgan Stanley boosted their target price on shares of Principal Financial Group from $76.00 to $77.00 and gave the company an “underweight” rating in a report on Friday, February 24th. Barclays lowered their target price on shares of Principal Financial Group from $92.00 to $75.00 in a report on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of Principal Financial Group from $78.00 to $83.00 and gave the company an “underweight” rating in a report on Tuesday, April 4th. The Goldman Sachs Group upped their price target on shares of Principal Financial Group from $61.00 to $71.00 and gave the stock a “sell” rating in a report on Monday, January 9th. Finally, Royal Bank of Canada lowered their price objective on Principal Financial Group from $94.00 to $88.00 and set a “sector perform” rating on the stock in a research report on Friday, March 3rd. Eight equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $77.55.
Principal Financial Group Company Profile
Principal Financial Group, Inc engages in the investment management offering business. It offers financial products and services to businesses, individuals, and institutional clients. It operates its business through following segments: Retirement and Income Solutions, Principal Global Investors, Principal International, U.S.
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