Texas Permanent School Fund lowered its stake in shares of Principal Financial Group, Inc. (NASDAQ:PFG – Get Rating) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,331 shares of the company’s stock after selling 466 shares during the period. Texas Permanent School Fund’s holdings in Principal Financial Group were worth $2,713,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Principal Financial Group by 175.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,732 shares of the company’s stock valued at $1,063,000 after purchasing an additional 9,377 shares during the period. CAPROCK Group Inc. raised its holdings in shares of Principal Financial Group by 4.1% in the 3rd quarter. CAPROCK Group Inc. now owns 3,645 shares of the company’s stock worth $263,000 after acquiring an additional 143 shares during the last quarter. Balentine LLC raised its holdings in shares of Principal Financial Group by 4.6% in the 4th quarter. Balentine LLC now owns 10,178 shares of the company’s stock worth $854,000 after acquiring an additional 444 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Principal Financial Group in the 3rd quarter worth about $830,000. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of Principal Financial Group by 9.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 102,372 shares of the company’s stock worth $7,387,000 after acquiring an additional 8,591 shares during the last quarter. Institutional investors and hedge funds own 74.21% of the company’s stock.
Principal Financial Group Stock Down 1.2 %
Principal Financial Group stock opened at $70.51 on Wednesday. The firm has a 50 day moving average price of $73.66 and a 200-day moving average price of $81.68. The company has a market capitalization of $17.12 billion, a P/E ratio of 4.19, a P/E/G ratio of 1.46 and a beta of 1.27. Principal Financial Group, Inc. has a twelve month low of $61.05 and a twelve month high of $96.17. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.46.
Principal Financial Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 1st will be issued a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend is Wednesday, May 31st. Principal Financial Group’s dividend payout ratio (DPR) is presently 15.21%.
Insider Buying and Selling
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 shares were sold at an average price of $69.50, for a total value of $256,733.00. Following the completion of the transaction, the senior vice president now directly owns 29,244 shares of the company’s stock, valued at approximately $2,032,458. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.81% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on PFG shares. Barclays lowered their target price on shares of Principal Financial Group from $92.00 to $75.00 in a report on Wednesday, April 12th. Bank of America lowered shares of Principal Financial Group from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $81.00 to $78.00 in a report on Monday, May 1st. Wells Fargo & Company initiated coverage on shares of Principal Financial Group in a report on Tuesday, April 25th. They issued an “equal weight” rating and a $79.00 target price on the stock. StockNews.com lowered shares of Principal Financial Group from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Principal Financial Group from $78.00 to $83.00 and gave the company an “underweight” rating in a research note on Tuesday, April 4th. Nine equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $77.31.
About Principal Financial Group
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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