KBC Group NV lowered its position in shares of Principal Financial Group Inc (NYSE:PFG) by 41.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 201,808 shares of the financial services provider’s stock after selling 142,313 shares during the period. KBC Group NV’s holdings in Principal Financial Group were worth $12,292,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in the company. New Mexico Educational Retirement Board grew its position in shares of Principal Financial Group by 3.6% during the fourth quarter. New Mexico Educational Retirement Board now owns 25,804 shares of the financial services provider’s stock worth $1,821,000 after acquiring an additional 900 shares during the last quarter. Goelzer Investment Management Inc. grew its position in shares of Principal Financial Group by 0.5% during the fourth quarter. Goelzer Investment Management Inc. now owns 184,495 shares of the financial services provider’s stock worth $13,018,000 after acquiring an additional 957 shares during the last quarter. Citizens Financial Group Inc RI grew its position in shares of Principal Financial Group by 0.7% during the fourth quarter. Citizens Financial Group Inc RI now owns 157,190 shares of the financial services provider’s stock worth $11,092,000 after acquiring an additional 1,020 shares during the last quarter. Everence Capital Management Inc. grew its position in shares of Principal Financial Group by 16.8% during the fourth quarter. Everence Capital Management Inc. now owns 7,591 shares of the financial services provider’s stock worth $536,000 after acquiring an additional 1,091 shares during the last quarter. Finally, Advisor Group Inc. grew its position in shares of Principal Financial Group by 2.6% during the fourth quarter. Advisor Group Inc. now owns 45,893 shares of the financial services provider’s stock worth $3,239,000 after acquiring an additional 1,155 shares during the last quarter. Institutional investors and hedge funds own 68.64% of the company’s stock.
Get Principal Financial Group alerts:In related news, insider Luis E. Valdes sold 27,662 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $64.02, for a total value of $1,770,921.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.50% of the company’s stock.
PFG stock opened at $58.57 on Friday. Principal Financial Group Inc has a fifty-two week low of $54.89 and a fifty-two week high of $75.58. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.10 and a current ratio of 0.10.
Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Thursday, April 26th. The financial services provider reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.05. The business had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $3.54 billion. Principal Financial Group had a net margin of 12.35% and a return on equity of 13.55%. During the same quarter in the prior year, the company posted $1.27 earnings per share. research analysts anticipate that Principal Financial Group Inc will post 5.22 EPS for the current fiscal year.
Principal Financial Group announced that its Board of Directors has authorized a share buyback plan on Monday, May 7th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the financial services provider to repurchase up to 1.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Monday, June 4th will be issued a $0.52 dividend. The ex-dividend date is Friday, June 1st. This represents a $2.08 annualized dividend and a yield of 3.55%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.51.
Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from an “underweight” rating to a “neutral” rating and set a $70.00 price target for the company in a research report on Monday, February 12th. Keefe, Bruyette & Woods restated a “hold” rating and set a $76.00 price target on shares of Principal Financial Group in a research report on Wednesday, January 31st. Barclays upgraded shares of Principal Financial Group from an “equal weight” rating to an “overweight” rating and set a $72.00 price target for the company in a research report on Monday, February 12th. Wells Fargo & Co set a $66.00 price target on shares of Principal Financial Group and gave the stock a “hold” rating in a research report on Wednesday. Finally, Morgan Stanley reduced their price objective on shares of Principal Financial Group from $77.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, April 27th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Principal Financial Group currently has an average rating of “Hold” and an average target price of $71.00.
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. It operates through Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.
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