Kentucky Retirement Systems decreased its stake in Principal Financial Group Inc (NYSE:PFG) by 49.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,450 shares of the financial services provider’s stock after selling 11,152 shares during the quarter. Kentucky Retirement Systems’ holdings in Principal Financial Group were worth $506,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Transamerica Financial Advisors Inc. boosted its stake in Principal Financial Group by 644.9% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 797 shares of the financial services provider’s stock valued at $36,000 after buying an additional 690 shares in the last quarter. Bremer Trust National Association acquired a new stake in Principal Financial Group in the 4th quarter valued at $41,000. Lindbrook Capital LLC acquired a new stake in Principal Financial Group in the 4th quarter valued at $42,000. Parallel Advisors LLC boosted its stake in Principal Financial Group by 54.8% in the 4th quarter. Parallel Advisors LLC now owns 1,026 shares of the financial services provider’s stock valued at $45,000 after buying an additional 363 shares in the last quarter. Finally, Resources Investment Advisors Inc. acquired a new stake in Principal Financial Group in the 4th quarter valued at $51,000. 68.64% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently commented on PFG shares. TheStreet raised Principal Financial Group from a “c+” rating to a “b-” rating in a research note on Monday, January 28th. Zacks Investment Research raised Principal Financial Group from a “sell” rating to a “hold” rating and set a $59.00 price objective on the stock in a research note on Wednesday, April 3rd. Goldman Sachs Group lowered Principal Financial Group from a “buy” rating to a “neutral” rating and set a $50.00 price objective on the stock. in a research note on Tuesday, January 8th. Finally, UBS Group lowered Principal Financial Group from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $46.00 to $45.00 in a research note on Tuesday, February 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $57.56.
Principal Financial Group stock traded down $0.46 on Wednesday, reaching $55.09. The company’s stock had a trading volume of 1,071,942 shares, compared to its average volume of 1,734,209. Principal Financial Group Inc has a twelve month low of $40.42 and a twelve month high of $61.87.
Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Tuesday, January 29th. The financial services provider reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.18). The business had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the prior year, the company posted $1.19 earnings per share.
The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.92%.
About Principal Financial Group
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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