Principal Financial Group, Inc. (NASDAQ:PFG) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC cut its holdings in shares of Principal Financial Group, Inc. (NASDAQ:PFGGet Rating) by 13.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 814,656 shares of the company’s stock after selling 124,299 shares during the period. Hsbc Holdings PLC owned 0.32% of Principal Financial Group worth $60,118,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PFG. HighTower Advisors LLC increased its holdings in shares of Principal Financial Group by 10.9% during the fourth quarter. HighTower Advisors LLC now owns 12,822 shares of the company’s stock valued at $926,000 after acquiring an additional 1,257 shares in the last quarter. WINTON GROUP Ltd acquired a new position in Principal Financial Group during the 4th quarter valued at approximately $588,000. Aviva PLC increased its stake in Principal Financial Group by 4.2% during the 4th quarter. Aviva PLC now owns 84,484 shares of the company’s stock valued at $6,111,000 after purchasing an additional 3,394 shares in the last quarter. Citigroup Inc. raised its holdings in shares of Principal Financial Group by 2.1% in the fourth quarter. Citigroup Inc. now owns 262,879 shares of the company’s stock worth $19,014,000 after buying an additional 5,430 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Principal Financial Group by 0.9% during the fourth quarter. Rhumbline Advisers now owns 432,741 shares of the company’s stock worth $31,300,000 after buying an additional 3,750 shares during the period. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Insider Activity at Principal Financial Group

In other Principal Financial Group news, Director Sandra L. Helton sold 15,000 shares of the company’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 completion of the transaction, the director now directly owns 32,278 shares in the company, valued at $2,353,066.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Sandra L. Helton sold 15,000 shares of Principal Financial Group stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $72.90, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Roberto Walker sold 9,000 shares of the stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $76.95, for a total value of $692,550.00. Following the transaction, the executive vice president now directly owns 34,008 shares of the company’s stock, valued at approximately $2,616,915.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,975 shares of company stock valued at $3,270,099. 1.17% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Barclays lifted their price target on Principal Financial Group to $81.00 in a research report on Monday, August 15th. Piper Sandler dropped their target price on 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. Credit Suisse Group lowered shares of Principal Financial Group from an “outperform” rating to a “neutral” rating and raised their price target for the stock from $82.00 to $86.00 in a research report on Thursday, August 18th. JPMorgan Chase & Co. dropped their price objective on shares of Principal Financial Group from $72.00 to $69.00 in a report on Monday, July 11th. Finally, Royal Bank of Canada cut their price objective on shares of Principal Financial Group from $79.00 to $70.00 in a research note on Monday, July 11th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $71.82.

Principal Financial Group Trading Up 1.9 %

Shares of Principal Financial Group stock opened at $78.29 on Monday. The firm has a 50-day simple moving average of $72.21 and a two-hundred day simple moving average of $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, Inc. has a fifty-two week low of $60.97 and a fifty-two week high of $80.36. The company has a market cap of $19.51 billion, a P/E ratio of 4.76, a price-to-earnings-growth ratio of 2.09 and a beta of 1.30.

Principal Financial Group (NASDAQ:PFGGet Rating) last released its quarterly earnings results on Monday, August 8th. The company reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.26. Principal Financial Group had a return on equity of 13.09% and a net margin of 24.69%. The company had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.24 billion. As a group, equities analysts predict that Principal Financial Group, Inc. will post 6.43 earnings per share for the current fiscal year.

Principal Financial Group Announces Dividend

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

About Principal Financial Group

(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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