Carnick & Kubik Group LLC Buys 1,500 Shares of Principal Financial Group Inc (NYSE:PFG)

Carnick & Kubik Group LLC raised its stake in Principal Financial Group Inc (NYSE:PFG) by 3.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,500 shares of the financial services provider’s stock after purchasing an additional 1,500 shares during the period. Carnick & Kubik Group LLC’s holdings in Principal Financial Group were worth $2,184,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in PFG. The Manufacturers Life Insurance Company lifted its holdings in shares of Principal Financial Group by 8.2% during the third quarter. The Manufacturers Life Insurance Company now owns 271,170 shares of the financial services provider’s stock worth $15,888,000 after purchasing an additional 20,557 shares during the period. Bank of New York Mellon Corp lifted its holdings in Principal Financial Group by 16.6% in the fourth quarter. Bank of New York Mellon Corp now owns 8,137,409 shares of the financial services provider’s stock valued at $359,430,000 after acquiring an additional 1,155,996 shares during the period. Wedge Capital Management L L P NC lifted its holdings in Principal Financial Group by 4.8% in the fourth quarter. Wedge Capital Management L L P NC now owns 587,573 shares of the financial services provider’s stock valued at $25,953,000 after acquiring an additional 27,010 shares during the period. Amundi Pioneer Asset Management Inc. lifted its holdings in Principal Financial Group by 130.0% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,179,613 shares of the financial services provider’s stock valued at $52,104,000 after acquiring an additional 666,657 shares during the period. Finally, Wetherby Asset Management Inc. lifted its holdings in Principal Financial Group by 8.9% in the fourth quarter. Wetherby Asset Management Inc. now owns 7,254 shares of the financial services provider’s stock valued at $321,000 after acquiring an additional 591 shares during the period. Institutional investors own 68.64% of the company’s stock.

A number of brokerages have recently weighed in on PFG. Royal Bank of Canada raised their price target on Principal Financial Group to $55.00 and gave the company a “market perform” rating in a research report on Monday, April 29th. UBS Group raised their price target on Principal Financial Group from $45.00 to $48.00 and gave the company a “sell” rating in a research report on Tuesday, April 9th. Goldman Sachs Group cut Principal Financial Group from a “buy” rating to a “neutral” rating and set a $50.00 price target for the company. in a research report on Tuesday, January 8th. Zacks Investment Research upgraded Principal Financial Group from a “sell” rating to a “hold” rating and set a $59.00 price target for the company in a research report on Wednesday, April 3rd. Finally, TheStreet upgraded Principal Financial Group from a “c+” rating to a “b-” rating in a research report on Monday, January 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. Principal Financial Group presently has an average rating of “Hold” and an average price target of $58.22.

In related news, EVP Julia M. Lawler sold 1,000 shares of Principal Financial Group stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $50.74, for a total transaction of $50,740.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders have sold 3,000 shares of company stock valued at $160,370. 1.50% of the stock is currently owned by company insiders.

Principal Financial Group stock opened at $57.58 on Friday. Principal Financial Group Inc has a 52 week low of $40.42 and a 52 week high of $61.12.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.11. The company had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the prior year, the business posted $1.40 EPS.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date is Friday, May 31st.

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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.

See Also: Return on Equity (ROE)

Institutional Ownership by Quarter for Principal Financial Group (NYSE:PFG)

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