Jaffetilchin Investment Partners LLC raised its stake in shares of Principal Financial Group Inc (NYSE:PFG) by 8.7% during the first quarter, according to its most recent filing with the SEC. The fund owned 16,836 shares of the financial services provider’s stock after buying an additional 1,348 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in Principal Financial Group were worth $1,062,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in PFG. Cipher Capital LP acquired a new position in Principal Financial Group during the fourth quarter valued at about $6,674,000. Aviva PLC boosted its position in Principal Financial Group by 5.4% in the fourth quarter. Aviva PLC now owns 188,593 shares of the financial services provider’s stock valued at $10,914,000 after buying an additional 9,704 shares during the period. Capstone Investment Advisors LLC acquired a new position in Principal Financial Group during the fourth quarter valued at about $3,789,000. Advisors Asset Management Inc. boosted its position in Principal Financial Group by 25.5% in the third quarter. Advisors Asset Management Inc. now owns 87,952 shares of the financial services provider’s stock valued at $4,530,000 after buying an additional 17,850 shares during the period. Finally, Twin Capital Management Inc. boosted its position in Principal Financial Group by 13.3% in the fourth quarter. Twin Capital Management Inc. now owns 75,164 shares of the financial services provider’s stock valued at $4,349,000 after buying an additional 8,800 shares during the period. 68.59% of the stock is currently owned by institutional investors and hedge funds.
Shares of Principal Financial Group Inc (NYSE:PFG) traded up 0.46% during trading on Friday, reaching $60.83. The company had a trading volume of 2,922,159 shares. The company’s 50 day moving average is $63.30 and its 200-day moving average is $60.49. The stock has a market capitalization of $17.53 billion, a price-to-earnings ratio of 13.70 and a beta of 1.64. Principal Financial Group Inc has a 1-year low of $38.03 and a 1-year high of $65.67.
Principal Financial Group (NYSE:PFG) last posted its earnings results on Thursday, April 27th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.08. The company had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.16 billion. Principal Financial Group had a net margin of 10.55% and a return on equity of 12.73%. During the same period in the previous year, the firm posted $0.97 earnings per share. On average, equities research analysts anticipate that Principal Financial Group Inc will post $5.05 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Monday, June 5th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, June 1st. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.45. This represents a $1.84 dividend on an annualized basis and a yield of 3.04%. Principal Financial Group’s payout ratio is currently 38.22%.
Several equities analysts have recently weighed in on the company. Citigroup Inc assumed coverage on Principal Financial Group in a report on Thursday, January 26th. They set a “neutral” rating and a $60.00 price target on the stock. Deutsche Bank AG increased their price target on Principal Financial Group from $60.00 to $62.00 and gave the company a “hold” rating in a report on Wednesday, April 19th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $64.00 price target on shares of Principal Financial Group in a report on Tuesday, March 21st. JPMorgan Chase & Co. increased their price target on Principal Financial Group from $53.00 to $56.00 and gave the company an “underweight” rating in a report on Monday, April 3rd. Finally, Zacks Investment Research raised Principal Financial Group from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a report on Monday, April 10th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $57.82.
In other Principal Financial Group news, CFO Deanna D. Strable-Soethout sold 23,745 shares of the company’s stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $65.00, for a total value of $1,543,425.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Luis E. Valdes sold 10,375 shares of the company’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $64.00, for a total transaction of $664,000.00. The disclosure for this sale can be found here. Insiders have sold 186,676 shares of company stock valued at $11,888,603 over the last 90 days. 1.78% of the stock is currently owned by insiders.
About Principal Financial Group
Principal Financial Group, Inc is an investment management company. The Company offers a range of financial products and services, including retirement, asset management and insurance. Its segments include Retirement and Income Solutions; Principal Global Investors, Principal International; U.S. Insurance Solutions, and Corporate.
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