Artemis Investment Management LLP Grows Stock Holdings in Principal Financial Group Inc (NYSE:PFG)

Artemis Investment Management LLP increased its stake in shares of Principal Financial Group Inc (NYSE:PFG) by 27.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 179,100 shares of the financial services provider’s stock after buying an additional 38,300 shares during the period. Artemis Investment Management LLP owned about 0.06% of Principal Financial Group worth $10,212,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. purchased a new stake in Principal Financial Group during the second quarter worth about $25,000. Virtus ETF Advisers LLC boosted its holdings in Principal Financial Group by 73.0% during the second quarter. Virtus ETF Advisers LLC now owns 602 shares of the financial services provider’s stock worth $35,000 after buying an additional 254 shares in the last quarter. Thor Advisors LLC purchased a new stake in Principal Financial Group during the first quarter worth about $38,000. QCI Asset Management Inc. NY boosted its holdings in Principal Financial Group by 620.0% during the second quarter. QCI Asset Management Inc. NY now owns 756 shares of the financial services provider’s stock worth $44,000 after buying an additional 651 shares in the last quarter. Finally, Personal Wealth Partners purchased a new stake in Principal Financial Group during the second quarter worth about $51,000. 68.64% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE PFG opened at $55.35 on Friday. Principal Financial Group Inc has a 12-month low of $40.42 and a 12-month high of $60.81. The firm’s 50-day moving average is $55.04 and its two-hundred day moving average is $55.45.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.12. The business had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same period last year, the company earned $1.35 EPS.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Thursday, September 5th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 3.97%. The ex-dividend date was Wednesday, September 4th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.54.

Several analysts have issued reports on PFG shares. Morgan Stanley reduced their price target on shares of Principal Financial Group from $59.00 to $57.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 20th. Zacks Investment Research raised shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a report on Tuesday, July 2nd. Barclays set a $66.00 price target on shares of Principal Financial Group and gave the company a “buy” rating in a report on Monday, August 12th. Finally, UBS Group reduced their price target on shares of Principal Financial Group from $49.00 to $48.00 and set a “sell” rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $57.00.

In other news, insider Luis E. Valdes sold 11,829 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $59.54, for a total value of $704,298.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Julia M. Lawler sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $57.99, for a total transaction of $57,990.00. The disclosure for this sale can be found here. Insiders sold 14,829 shares of company stock worth $872,799 in the last ninety days. Insiders own 1.50% of the company’s stock.

Principal Financial Group 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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