Principal Financial Group, Inc. (NASDAQ:PFG) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its position in shares of Principal Financial Group, Inc. (NASDAQ:PFGGet Rating) by 22.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,978 shares of the company’s stock after purchasing an additional 5,815 shares during the period. Mackenzie Financial Corp’s holdings in Principal Financial Group were worth $2,136,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. CIBC Asset Management Inc increased its position in shares of Principal Financial Group by 0.6% in the 1st quarter. CIBC Asset Management Inc now owns 25,225 shares of the company’s stock worth $1,852,000 after purchasing an additional 155 shares during the last quarter. Sentry Investment Management LLC increased its position in shares of Principal Financial Group by 11.0% in the 2nd quarter. Sentry Investment Management LLC now owns 1,666 shares of the company’s stock worth $111,000 after purchasing an additional 165 shares during the last quarter. Kinneret Advisory LLC boosted its holdings in shares of Principal Financial Group by 2.2% in the 2nd quarter. Kinneret Advisory LLC now owns 8,559 shares of the company’s stock valued at $572,000 after buying an additional 182 shares during the period. Elo Mutual Pension Insurance Co boosted its holdings in shares of Principal Financial Group by 0.9% in the 1st quarter. Elo Mutual Pension Insurance Co now owns 20,848 shares of the company’s stock valued at $1,530,000 after buying an additional 191 shares during the period. Finally, Cetera Advisors LLC boosted its holdings in shares of Principal Financial Group by 4.4% in the 1st quarter. Cetera Advisors LLC now owns 4,545 shares of the company’s stock valued at $334,000 after buying an additional 193 shares during the period. 75.12% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Sandra L. Helton sold 14,033 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 18,245 shares in the company, valued at $1,460,512.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Sandra L. Helton sold 14,033 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 18,245 shares in the company, valued at $1,460,512.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Wee Yee Cheong sold 2,447 shares of the business’s stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $78.45, for a total transaction of $191,967.15. Following the sale, the executive vice president now owns 34,700 shares in the company, valued at approximately $2,722,215. The disclosure for this sale can be found here. Insiders own 1.17% of the company’s stock.

Analysts Set New Price Targets

PFG has been the subject of a number of analyst reports. Raymond James initiated coverage on shares of Principal Financial Group in a research note on Wednesday, September 21st. They set a “market perform” rating for the company. Keefe, Bruyette & Woods lowered shares of Principal Financial Group from a “market perform” rating to an “underperform” rating and upped their price target for the stock from $75.00 to $77.00 in a research note on Monday, October 31st. Barclays lowered shares of Principal Financial Group from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $81.00 to $89.00 in a research note on Tuesday, November 1st. Jefferies Financial Group upped their price target on shares of Principal Financial Group from $56.00 to $60.00 and gave the stock an “underperform” rating in a research note on Thursday, September 8th. Finally, Citigroup upped their price target on shares of Principal Financial Group from $62.00 to $65.00 in a research note on Wednesday, November 16th. Seven research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat.com, Principal Financial Group presently has a consensus rating of “Hold” and a consensus target price of $77.50.

Principal Financial Group Stock Up 0.8 %

NASDAQ PFG opened at $91.71 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.37 and a quick ratio of 0.37. The company’s 50 day simple moving average is $82.97 and its 200 day simple moving average is $74.86. Principal Financial Group, Inc. has a 12 month low of $61.05 and a 12 month high of $96.17. The company has a market capitalization of $22.44 billion, a P/E ratio of 4.45, a PEG ratio of 2.57 and a beta of 1.29.

Principal Financial Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 19th. Investors of record on Thursday, December 1st will be issued a $0.64 dividend. The ex-dividend date is Wednesday, November 30th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.79%. Principal Financial Group’s payout ratio is currently 12.41%.

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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