Geode Capital Management LLC Boosts Position in Principal Financial Group Inc (PFG)

Geode Capital Management LLC increased its position in shares of Principal Financial Group Inc (NYSE:PFG) by 15.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,149,598 shares of the financial services provider’s stock after buying an additional 550,835 shares during the quarter. Geode Capital Management LLC’s holdings in Principal Financial Group were worth $183,017,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PFG. Kinneret Advisory LLC bought a new position in Principal Financial Group in the fourth quarter valued at approximately $145,000. Magnus Financial Group LLC bought a new position in Principal Financial Group in the fourth quarter valued at approximately $202,000. Berman Capital Advisors LLC bought a new position in Principal Financial Group in the fourth quarter valued at approximately $102,000. Flinton Capital Management LLC grew its stake in Principal Financial Group by 4.6% in the fourth quarter. Flinton Capital Management LLC now owns 81,120 shares of the financial services provider’s stock valued at $3,583,000 after purchasing an additional 3,536 shares in the last quarter. Finally, Kepos Capital LP bought a new position in Principal Financial Group in the fourth quarter valued at approximately $5,811,000. Institutional investors and hedge funds own 68.64% of the company’s stock.

Shares of NYSE PFG opened at $53.59 on Friday. Principal Financial Group Inc has a 12 month low of $40.42 and a 12 month high of $61.12.

Principal Financial Group (NYSE:PFG) last issued its earnings results on Thursday, April 25th. The financial services provider reported $1.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.11. The business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the prior year, the firm posted $1.40 earnings per share.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $2.16 annualized dividend and a dividend yield of 4.03%.

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

A number of research firms have weighed in on PFG. 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 note on Wednesday, April 3rd. 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 note on Tuesday, April 9th. TheStreet upgraded Principal Financial Group from a “c+” rating to a “b-” rating in a research note on Monday, January 28th. Finally, 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 note on Monday, April 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $57.50.

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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.

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

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