Dimensional Fund Advisors LP boosted its position in shares of Principal Financial Group Inc (NYSE:PFG) by 7.2% during the 4th quarter, Holdings Channel reports. The firm owned 3,963,240 shares of the financial services provider’s stock after purchasing an additional 264,669 shares during the period. Dimensional Fund Advisors LP’s holdings in Principal Financial Group were worth $175,047,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Transamerica Financial Advisors Inc. grew its position in 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 valued at $36,000 after purchasing an additional 690 shares during the last quarter. Bremer Trust National Association purchased a new stake in Principal Financial Group during the 4th quarter valued at about $41,000. Lindbrook Capital LLC purchased a new stake in Principal Financial Group during the 4th quarter valued at about $42,000. Parallel Advisors LLC grew its position in 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 valued at $45,000 after purchasing an additional 363 shares during the last quarter. Finally, Resources Investment Advisors Inc. purchased a new stake in Principal Financial Group during the 4th quarter valued at about $51,000. 68.64% of the stock is currently owned by institutional investors.
In other news, EVP Julia M. Lawler sold 1,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $50.74, for a total transaction of $50,740.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 3,000 shares of company stock worth $160,370. Insiders own 1.50% of the company’s stock.
Shares of NYSE PFG opened at $55.89 on Friday. Principal Financial Group Inc has a 52-week low of $40.42 and a 52-week high of $61.12.
Principal Financial Group (NYSE:PFG) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.11. The company had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same period in the previous year, the business earned $1.40 EPS.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date of this dividend is Friday, May 31st.
Several brokerages recently commented on PFG. UBS Group increased their price objective on shares of Principal Financial Group from $45.00 to $48.00 and gave the company a “sell” rating in a research report on Tuesday, April 9th. Royal Bank of Canada raised their price target on shares of Principal Financial Group to $55.00 and gave the company a “market perform” rating in a report on Monday, April 29th. Zacks Investment Research raised shares of Principal Financial Group from a “sell” rating to a “hold” rating and set a $59.00 price target on the stock in a report on Wednesday, April 3rd. Finally, TheStreet raised shares of Principal Financial Group from a “c+” rating to a “b-” rating in a report on Monday, January 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. Principal Financial Group presently has a consensus rating of “Hold” and an average price target of $58.44.
Principal Financial Group Company Profile
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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