International Assets Investment Management LLC bought a new stake in shares of Principal Financial Group, Inc. (NASDAQ:PFG – Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,908 shares of the company’s stock, valued at approximately $142,000.
A number of other large investors have also recently bought and sold shares of the stock. MinichMacGregor Wealth Management LLC acquired a new stake in Principal Financial Group in the 4th quarter worth about $25,000. Steward Financial Group LLC acquired a new stake in Principal Financial Group in the 4th quarter worth about $29,000. GPS Wealth Strategies Group LLC acquired a new stake in Principal Financial Group in the 1st quarter worth about $28,000. Hanseatic Management Services Inc. acquired a new stake in Principal Financial Group in the 4th quarter worth about $34,000. Finally, Boyd Watterson Asset Management LLC OH acquired a new stake in Principal Financial Group in the 4th quarter worth about $35,000. Institutional investors and hedge funds own 74.58% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have weighed in on PFG. Barclays decreased their price target on shares of Principal Financial Group from $92.00 to $75.00 in a report on Wednesday, April 12th. 92 Resources reiterated a “downgrade” rating on shares of Principal Financial Group in a report on Monday, May 1st. StockNews.com raised Principal Financial Group from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Wells Fargo & Company initiated coverage on Principal Financial Group in a research note on Tuesday, April 25th. They issued an “equal weight” rating and a $79.00 price objective on the stock. Finally, Royal Bank of Canada reduced their price objective on Principal Financial Group from $88.00 to $83.00 in a research note on Monday, May 1st. Five equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. According to MarketBeat.com, Principal Financial Group has a consensus rating of “Hold” and a consensus price target of $77.54.
Principal Financial Group Stock Performance
Principal Financial Group (NASDAQ:PFG – Free Report) last issued its quarterly earnings data on Thursday, April 27th. The company reported $1.48 EPS for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.06). Principal Financial Group had a return on equity of 16.04% and a net margin of 24.97%. The firm had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.22 billion. On average, research analysts anticipate that Principal Financial Group, Inc. will post 6.67 earnings per share for the current fiscal year.
Principal Financial Group Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 1st were given a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend was Wednesday, May 31st. Principal Financial Group’s payout ratio is 15.21%.
Principal Financial Group Company Profile
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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