Roosevelt Investment Group Inc. acquired a new stake in Principal Financial Group Inc (NYSE:PFG) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 13,568 shares of the financial services provider’s stock, valued at approximately $599,000.
A number of other institutional investors have also made changes to their positions in the business. Transamerica Financial Advisors Inc. grew its position in shares of Principal Financial Group by 644.9% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 797 shares of the financial services provider’s stock worth $36,000 after buying an additional 690 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Principal Financial Group by 54.8% during the 4th quarter. Parallel Advisors LLC now owns 1,026 shares of the financial services provider’s stock worth $45,000 after buying an additional 363 shares in the last quarter. Bartlett & Co. LLC bought a new position in shares of Principal Financial Group during the 4th quarter worth $64,000. Quadrant Capital Group LLC grew its position in shares of Principal Financial Group by 13.6% during the 4th quarter. Quadrant Capital Group LLC now owns 2,127 shares of the financial services provider’s stock worth $87,000 after buying an additional 254 shares in the last quarter. Finally, First Mercantile Trust Co. grew its position in shares of Principal Financial Group by 41.1% during the 4th quarter. First Mercantile Trust Co. now owns 2,130 shares of the financial services provider’s stock worth $94,000 after buying an additional 620 shares in the last quarter. 68.64% of the stock is currently owned by institutional investors.
Shares of NYSE PFG opened at $49.11 on Tuesday. Principal Financial Group Inc has a 1-year low of $40.42 and a 1-year high of $64.87.
Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Tuesday, January 29th. The financial services provider reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.18). The company had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same period in the prior year, the business earned $1.19 EPS.
Principal Financial Group announced that its board has approved a share repurchase plan on Tuesday, November 27th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Monday, March 4th will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date is Friday, March 1st.
In other Principal Financial Group news, EVP Julia M. Lawler sold 1,000 shares of the stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $50.17, for a total value of $50,170.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Amy Christine Friedrich sold 900 shares of the stock in a transaction dated Thursday, January 17th. The shares were sold at an average price of $49.00, for a total value of $44,100.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,900 shares of company stock valued at $144,270 over the last 90 days. 1.50% of the stock is currently owned by company insiders.
A number of equities analysts have recently issued reports on the company. Deutsche Bank assumed coverage on Principal Financial Group in a research report on Tuesday, October 16th. They set a “hold” rating and a $61.00 price target on the stock. UBS Group downgraded Principal Financial Group from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $46.00 to $45.00 in a research report on Tuesday, February 5th. TheStreet raised Principal Financial Group from a “c+” rating to a “b-” rating in a research report on Monday, January 28th. Zacks Investment Research reissued a “hold” rating on shares of Principal Financial Group in a research report on Wednesday, November 14th. Finally, Morgan Stanley dropped their price target on Principal Financial Group from $64.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 13th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. Principal Financial Group has a consensus rating of “Hold” and a consensus price target of $59.64.
About Principal Financial Group
Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. It operates through Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.
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