Principal Financial Group, Inc. (NASDAQ:PFG) Shares Bought by Ethic Inc.

Ethic Inc. grew its stake in shares of Principal Financial Group, Inc. (NASDAQ:PFGGet Rating) by 12.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,681 shares of the company’s stock after purchasing an additional 3,583 shares during the quarter. Ethic Inc.’s holdings in Principal Financial Group were worth $2,326,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Riverview Trust Co acquired a new stake in Principal Financial Group during the first quarter worth approximately $29,000. MCF Advisors LLC acquired a new position in shares of Principal Financial Group in the 1st quarter valued at $32,000. Mystic Asset Management Inc. acquired a new position in shares of Principal Financial Group in the 4th quarter valued at $35,000. Hazlett Burt & Watson Inc. acquired a new position in shares of Principal Financial Group in the 1st quarter valued at $43,000. Finally, Quent Capital LLC acquired a new position in shares of Principal Financial Group in the 4th quarter valued at $46,000. Institutional investors and hedge funds own 75.12% of the company’s stock.

Insiders Place Their Bets

In other Principal Financial Group news, Director Sandra L. Helton sold 15,000 shares of the business’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $72.90, for a total transaction of $1,093,500.00. Following the sale, the director now directly owns 32,278 shares in the company, valued at approximately $2,353,066.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Roberto Walker sold 6,000 shares of the business’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $78.58, for a total value of $471,480.00. Following the sale, the executive vice president now directly owns 43,008 shares in the company, valued at approximately $3,379,568.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sandra L. Helton sold 15,000 shares of the business’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $72.90, for a total transaction of $1,093,500.00. Following the completion of the sale, the director now owns 32,278 shares in the company, valued at $2,353,066.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,975 shares of company stock worth $3,270,099. Corporate insiders own 1.17% of the company’s stock.

Principal Financial Group Price Performance

Shares of NASDAQ PFG opened at $78.29 on Monday. The firm has a market capitalization of $19.51 billion, a P/E ratio of 4.76, a PEG ratio of 2.05 and a beta of 1.30. Principal Financial Group, Inc. has a one year low of $60.97 and a one year high of $80.36. The company’s fifty day moving average is $72.21 and its two-hundred day moving average is $69.05. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.39 and a current ratio of 0.39.

Principal Financial Group (NASDAQ:PFGGet Rating) last issued its earnings results on Monday, August 8th. The company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.39 by $0.26. The company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.24 billion. Principal Financial Group had a net margin of 24.69% and a return on equity of 13.09%. Analysts forecast that Principal Financial Group, Inc. will post 6.43 EPS for the current fiscal year.

Principal Financial Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 8th will be given a dividend of $0.64 per share. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $2.56 annualized dividend and a dividend yield of 3.27%. Principal Financial Group’s payout ratio is currently 15.56%.

Analysts Set New Price Targets

A number of brokerages have recently commented on PFG. Credit Suisse Group cut shares of Principal Financial Group from an “outperform” rating to a “neutral” rating and lifted their target price for the company from $82.00 to $86.00 in a report on Thursday, August 18th. Jefferies Financial Group lifted their target price on shares of Principal Financial Group from $56.00 to $60.00 and gave the company an “underperform” rating in a report on Thursday. Morgan Stanley lifted their target price on shares of Principal Financial Group from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, August 17th. Piper Sandler lowered their price objective on shares of Principal Financial Group from $74.00 to $72.00 and set a “neutral” rating on the stock in a research report on Friday, July 8th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Principal Financial Group from $72.00 to $69.00 in a research report on Monday, July 11th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $71.82.

Principal Financial Group Profile

(Get Rating)

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 (NASDAQ:PFG)

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