Bank of Nova Scotia Trims Stock Position in Principal Financial Group, Inc. (NASDAQ:PFG)

Bank of Nova Scotia lessened its holdings in shares of Principal Financial Group, Inc. (NASDAQ:PFGGet Rating) by 29.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,279 shares of the company’s stock after selling 9,648 shares during the period. Bank of Nova Scotia’s holdings in Principal Financial Group were worth $1,556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. MCF Advisors LLC purchased a new position in Principal Financial Group in the first quarter valued at $32,000. Clear Street Markets LLC increased its holdings in Principal Financial Group by 397.0% in the second quarter. Clear Street Markets LLC now owns 492 shares of the company’s stock valued at $33,000 after buying an additional 393 shares in the last quarter. CX Institutional purchased a new position in Principal Financial Group in the second quarter valued at $41,000. LS Investment Advisors LLC purchased a new position in Principal Financial Group in the second quarter valued at $42,000. Finally, Hazlett Burt & Watson Inc. purchased a new position in Principal Financial Group in the first quarter valued at $43,000. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Analyst Ratings Changes

PFG has been the subject of a number of recent analyst reports. Jefferies Financial Group lifted their price objective on shares of Principal Financial Group from $56.00 to $60.00 and gave the company an “underperform” rating in a report on Thursday, September 8th. Raymond James initiated coverage on shares of Principal Financial Group in a report on Wednesday, September 21st. They issued a “market perform” rating for the company. Piper Sandler lifted their target price on shares of Principal Financial Group to $90.00 in a research report on Tuesday, November 1st. StockNews.com initiated coverage on shares of Principal Financial Group in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Citigroup lifted their target price on shares of Principal Financial Group from $62.00 to $65.00 in a research report on Wednesday. Seven research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $77.50.

Insiders Place Their Bets

In other Principal Financial Group news, EVP Roberto Walker sold 9,000 shares of Principal Financial Group stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $76.95, for a total transaction of $692,550.00. Following the transaction, the executive vice president now directly owns 34,008 shares of the company’s stock, valued at $2,616,915.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Principal Financial Group news, Director Sandra L. Helton sold 14,033 shares of Principal Financial Group stock in a transaction dated Tuesday, October 18th. The shares were sold at an average price of $80.05, for a total transaction of $1,123,341.65. Following the transaction, the director now directly owns 18,245 shares of the company’s stock, valued at $1,460,512.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Roberto Walker sold 9,000 shares of Principal Financial Group stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $76.95, for a total transaction of $692,550.00. Following the transaction, the executive vice president now directly owns 34,008 shares in the company, valued at $2,616,915.60. The disclosure for this sale can be found here. Insiders have sold 25,480 shares of company stock valued at $2,007,859 over the last ninety days. Company insiders own 1.17% of the company’s stock.

Principal Financial Group Stock Performance

PFG opened at $89.81 on Friday. The firm has a market capitalization of $21.97 billion, a PE ratio of 4.35, a PEG ratio of 2.64 and a beta of 1.29. Principal Financial Group, Inc. has a twelve month low of $61.05 and a twelve month high of $96.17. The firm’s 50-day moving average price is $81.87 and its 200 day moving average price is $74.37. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.42.

Principal Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 19th. Investors of record on Thursday, December 1st will be given a dividend of $0.64 per share. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $2.56 dividend on an annualized basis and a yield of 2.85%. Principal Financial Group’s payout ratio is presently 12.41%.

Principal Financial Group Company 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.

Read More

Institutional Ownership by Quarter for Principal Financial Group (NASDAQ:PFG)

Receive News & Ratings for Principal Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Principal Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.