Veritas Investment Management LLP decreased its position in Principal Financial Group Inc (NYSE:PFG) by 31.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,275 shares of the financial services provider’s stock after selling 2,400 shares during the period. Veritas Investment Management LLP’s holdings in Principal Financial Group were worth $339,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of the business. Sun Life Financial INC increased its stake in shares of Principal Financial Group by 21,822.2% during the 2nd quarter. Sun Life Financial INC now owns 1,973 shares of the financial services provider’s stock worth $126,000 after purchasing an additional 1,964 shares during the last quarter. Eagle Global Advisors LLC purchased a new stake in shares of Principal Financial Group during the 2nd quarter worth approximately $207,000. Koch Industries Inc. purchased a new stake in shares of Principal Financial Group during the 2nd quarter worth approximately $210,000. Honkamp Krueger Financial Services Inc. purchased a new stake in shares of Principal Financial Group during the 3rd quarter worth approximately $226,000. Finally, Foster & Motley Inc. increased its stake in shares of Principal Financial Group by 9.3% during the 2nd quarter. Foster & Motley Inc. now owns 4,014 shares of the financial services provider’s stock worth $257,000 after purchasing an additional 340 shares during the last quarter. Hedge funds and other institutional investors own 68.01% of the company’s stock.
PFG has been the subject of several research analyst reports. Barclays PLC raised their price target on shares of Principal Financial Group from $61.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday, August 11th. Morgan Stanley lifted their price objective on shares of Principal Financial Group from $67.00 to $72.00 and gave the company an “equal weight” rating in a research note on Thursday, October 5th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $68.00 price objective on shares of Principal Financial Group in a research note on Thursday, August 3rd. Wells Fargo & Company set a $76.00 price objective on shares of Principal Financial Group and gave the company a “buy” rating in a research note on Wednesday, October 18th. Finally, Zacks Investment Research upgraded shares of Principal Financial Group from a “sell” rating to a “hold” rating and set a $73.00 price objective for the company in a research note on Monday, October 2nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. Principal Financial Group currently has a consensus rating of “Hold” and an average target price of $67.40.
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Shares of Principal Financial Group Inc (PFG) traded down $0.03 during trading hours on Tuesday, reaching $68.03. 1,484,300 shares of the company’s stock traded hands, compared to its average volume of 1,111,277. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.10 and a current ratio of 0.10. Principal Financial Group Inc has a 1 year low of $56.12 and a 1 year high of $69.95. The company has a market cap of $19,652.64, a P/E ratio of 13.27, a price-to-earnings-growth ratio of 1.30 and a beta of 1.71.
Principal Financial Group (NYSE:PFG) last announced its quarterly earnings results on Thursday, October 26th. The financial services provider reported $1.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.30 by ($0.02). Principal Financial Group had a net margin of 12.35% and a return on equity of 13.55%. The firm had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the previous year, the business earned $1.15 earnings per share. sell-side analysts forecast that Principal Financial Group Inc will post 5.22 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Monday, December 4th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 2.88%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.47. The ex-dividend date is Friday, December 1st. Principal Financial Group’s dividend payout ratio (DPR) is presently 30.82%.
About Principal Financial Group
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.
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