Dai Ichi Life Insurance Company Ltd Buys 71,800 Shares of Principal Financial Group Inc (PFG)

Dai Ichi Life Insurance Company Ltd boosted its stake in shares of Principal Financial Group Inc (NYSE:PFG) by 366.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 91,378 shares of the financial services provider’s stock after acquiring an additional 71,800 shares during the quarter. Dai Ichi Life Insurance Company Ltd’s holdings in Principal Financial Group were worth $5,855,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Pacer Advisors Inc. lifted its position in Principal Financial Group by 0.7% during the 2nd quarter. Pacer Advisors Inc. now owns 5,569 shares of the financial services provider’s stock worth $357,000 after acquiring an additional 38 shares during the period. Private Advisor Group LLC lifted its position in Principal Financial Group by 1.1% during the 1st quarter. Private Advisor Group LLC now owns 3,643 shares of the financial services provider’s stock worth $228,000 after acquiring an additional 40 shares during the period. Cleararc Capital Inc. lifted its position in Principal Financial Group by 0.9% during the 1st quarter. Cleararc Capital Inc. now owns 6,546 shares of the financial services provider’s stock worth $413,000 after acquiring an additional 60 shares during the period. Pitcairn Co. lifted its position in Principal Financial Group by 1.5% during the 2nd quarter. Pitcairn Co. now owns 4,312 shares of the financial services provider’s stock worth $276,000 after acquiring an additional 63 shares during the period. Finally, Independent Advisor Alliance lifted its position in Principal Financial Group by 1.3% during the 1st quarter. Independent Advisor Alliance now owns 6,240 shares of the financial services provider’s stock worth $388,000 after acquiring an additional 82 shares during the period. 68.19% of the stock is owned by institutional investors.

TRADEMARK VIOLATION WARNING: “Dai Ichi Life Insurance Company Ltd Buys 71,800 Shares of Principal Financial Group Inc (PFG)” was posted by Markets Daily and is the property of of Markets Daily. If you are accessing this piece of content on another domain, it was illegally stolen and reposted in violation of international copyright legislation. The correct version of this piece of content can be viewed at https://www.themarketsdaily.com/2017/09/11/dai-ichi-life-insurance-company-ltd-buys-71800-shares-of-principal-financial-group-inc-pfg.html.

In other Principal Financial Group news, SVP Gregory Bernard Elming sold 30,707 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $64.20, for a total value of $1,971,389.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gary P. Scholten sold 21,950 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $65.04, for a total value of $1,427,628.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 302,682 shares of company stock valued at $19,555,388. Insiders own 1.50% of the company’s stock.

A number of analysts have weighed in on the company. Royal Bank Of Canada reaffirmed a “buy” rating and set a $74.00 price objective on shares of Principal Financial Group in a research report on Wednesday, September 6th. Zacks Investment Research raised Principal Financial Group from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Tuesday, August 1st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $68.00 price objective on shares of Principal Financial Group in a research report on Thursday, August 3rd. Barclays PLC increased their price objective on Principal Financial Group from $61.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, August 11th. Finally, BidaskClub cut Principal Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $61.78.

Shares of Principal Financial Group Inc (NYSE:PFG) traded up 1.27% during trading on Monday, hitting $61.44. The stock had a trading volume of 175,558 shares. Principal Financial Group Inc has a one year low of $47.56 and a one year high of $67.73. The firm’s 50-day moving average is $64.40 and its 200-day moving average is $63.79. The firm has a market cap of $17.75 billion, a P/E ratio of 13.96 and a beta of 1.66.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.09. The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.16 billion. Principal Financial Group had a return on equity of 13.57% and a net margin of 10.15%. During the same period in the previous year, the firm posted $1.15 earnings per share. Equities research analysts forecast that Principal Financial Group Inc will post $5.18 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be given a dividend of $0.47 per share. The ex-dividend date is Wednesday, August 30th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.46. This represents a $1.88 annualized dividend and a dividend yield of 3.10%. Principal Financial Group’s payout ratio is currently 42.73%.

Principal Financial Group announced that its board has authorized a share repurchase program on Wednesday, May 17th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the financial services provider to purchase up to 1.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Principal Financial Group Company Profile

Principal Financial Group, Inc is an investment management company. The Company offers a range of financial products and services, including retirement, asset management and insurance. Its segments include Retirement and Income Solutions; Principal Global Investors, Principal International; U.S. Insurance Solutions, and Corporate.

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

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

Latest News

Leave a Reply