SRB Corp Buys 2,156 Shares of Principal Financial Group Inc (NYSE:PFG)

SRB Corp raised its holdings in Principal Financial Group Inc (NYSE:PFG) by 18.6% during the 1st quarter, HoldingsChannel reports. The fund owned 13,725 shares of the financial services provider’s stock after acquiring an additional 2,156 shares during the quarter. SRB Corp’s holdings in Principal Financial Group were worth $689,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. GYL Financial Synergies LLC bought a new stake in shares of Principal Financial Group in the 1st quarter worth approximately $942,000. Westpac Banking Corp grew its position in shares of Principal Financial Group by 29.6% in the 1st quarter. Westpac Banking Corp now owns 22,728 shares of the financial services provider’s stock worth $1,141,000 after buying an additional 5,187 shares during the last quarter. Riverhead Capital Management LLC grew its position in shares of Principal Financial Group by 8.3% in the 1st quarter. Riverhead Capital Management LLC now owns 97,241 shares of the financial services provider’s stock worth $4,881,000 after buying an additional 7,450 shares during the last quarter. Andra AP fonden bought a new stake in shares of Principal Financial Group in the 1st quarter worth approximately $6,073,000. Finally, Wealthfront Advisers LLC grew its position in shares of Principal Financial Group by 39.0% in the 1st quarter. Wealthfront Advisers LLC now owns 33,567 shares of the financial services provider’s stock worth $1,685,000 after buying an additional 9,421 shares during the last quarter. 68.64% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE PFG traded down $0.37 during mid-day trading on Friday, hitting $55.08. 5,054 shares of the stock traded hands, compared to its average volume of 1,605,937. 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 released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $1.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.11. The firm had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the prior year, the firm earned $1.40 earnings per share.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 3rd will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $2.16 annualized dividend and a dividend yield of 3.92%.

In related news, EVP Julia M. Lawler sold 1,000 shares of Principal Financial Group stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $57.25, for a total transaction of $57,250.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold 3,000 shares of company stock worth $159,490 over the last 90 days. 1.50% of the stock is currently owned by corporate insiders.

A number of equities research analysts have recently weighed in on PFG shares. Zacks Investment Research upgraded Principal Financial Group from a “sell” rating to a “hold” rating and set a $59.00 price objective on the stock in a research report on Wednesday, April 3rd. Royal Bank of Canada lifted their price objective on Principal Financial Group to $55.00 and gave the stock a “market perform” rating in a research report on Monday, April 29th. Finally, UBS Group cut their price objective on Principal Financial Group from $51.00 to $50.00 and set a “sell” rating on the stock in a research report on Tuesday, May 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $57.50.

ILLEGAL ACTIVITY WARNING: This article was first posted by Markets Daily and is the sole property of of Markets Daily. If you are reading this article on another domain, it was stolen and reposted in violation of US and international copyright & trademark law. The legal version of this article can be read at https://www.themarketsdaily.com/2019/06/14/srb-corp-buys-2156-shares-of-principal-financial-group-inc-nysepfg.html.

Principal Financial Group 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.

Featured Story: What does the Producer Price Index (PPI) tell investors?

Want to see what other hedge funds are holding PFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Principal Financial Group Inc (NYSE:PFG).

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

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