Andra AP fonden purchased a new stake in Principal Financial Group Inc (NYSE:PFG) in the first quarter, HoldingsChannel.com reports. The fund purchased 121,000 shares of the financial services provider’s stock, valued at approximately $6,073,000.
Other large investors have also made changes to their positions in the company. FTB Advisors Inc. raised its position in Principal Financial Group by 377.3% in the 1st quarter. FTB Advisors Inc. now owns 525 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 415 shares during the period. NuWave Investment Management LLC raised its position in Principal Financial Group by 464.4% in the 1st quarter. NuWave Investment Management LLC now owns 570 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 469 shares during the period. Pittenger & Anderson Inc. purchased a new stake in Principal Financial Group in the 1st quarter worth about $40,000. Bremer Trust National Association purchased a new stake in Principal Financial Group in the 4th quarter worth about $41,000. Finally, Lindbrook Capital LLC purchased a new stake in Principal Financial Group in the 4th quarter worth about $42,000. 68.64% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on the stock. Zacks Investment Research raised shares of Principal Financial Group from a “sell” rating to a “hold” rating and set a $59.00 target price on the stock in a research report on Wednesday, April 3rd. Royal Bank of Canada raised their target price on shares of Principal Financial Group to $55.00 and gave the stock a “market perform” rating in a research report on Monday, April 29th. Finally, UBS Group reduced their target price on shares of Principal Financial Group from $51.00 to $50.00 and set a “sell” rating on the stock in a research report on Tuesday, May 7th. One research 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. Principal Financial Group has an average rating of “Hold” and a consensus price target of $57.50.
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 Zacks’ consensus estimate 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 period last year, the business posted $1.40 earnings per share.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 3.86%. The ex-dividend date is Friday, May 31st.
In related news, EVP Julia M. Lawler sold 1,000 shares of Principal Financial Group stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $57.25, for a total transaction of $57,250.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have sold 3,000 shares of company stock worth $159,490. 1.50% of the stock is currently owned by corporate insiders.
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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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