Principal Financial Group, Inc. $PFG Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC decreased its position in shares of Principal Financial Group, Inc. (NASDAQ:PFG) by 32.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,441 shares of the company’s stock after selling 5,557 shares during the quarter. Intech Investment Management LLC’s holdings in Principal Financial Group were worth $1,009,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Principal Financial Group during the 4th quarter worth approximately $26,000. Quest 10 Wealth Builders Inc. grew its stake in Principal Financial Group by 343.6% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 346 shares of the company’s stock valued at $30,000 after acquiring an additional 268 shares during the period. FWL Investment Management LLC acquired a new stake in Principal Financial Group in the 3rd quarter valued at $32,000. ST Germain D J Co. Inc. grew its stake in Principal Financial Group by 66.5% in the 4th quarter. ST Germain D J Co. Inc. now owns 398 shares of the company’s stock valued at $35,000 after acquiring an additional 159 shares during the period. Finally, Rialto Wealth Management LLC grew its stake in Principal Financial Group by 3,754.5% in the 4th quarter. Rialto Wealth Management LLC now owns 424 shares of the company’s stock valued at $37,000 after acquiring an additional 413 shares during the period. Institutional investors and hedge funds own 75.08% of the company’s stock.

Insider Buying and Selling at Principal Financial Group

In other news, General Counsel George Djurasovic sold 2,571 shares of Principal Financial Group stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $100.83, for a total transaction of $259,233.93. Following the transaction, the general counsel owned 21,906 shares in the company, valued at $2,208,781.98. The trade was a 10.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Wee Yee Cheong sold 9,183 shares of Principal Financial Group stock in a transaction on Friday, May 1st. The stock was sold at an average price of $101.26, for a total value of $929,870.58. Following the transaction, the insider owned 77,188 shares in the company, valued at approximately $7,816,056.88. This represents a 10.63% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 28,317 shares of company stock worth $2,884,902. Insiders own 1.13% of the company’s stock.

Principal Financial Group Stock Performance

Shares of PFG stock opened at $105.22 on Monday. The stock’s fifty day moving average is $97.99 and its two-hundred day moving average is $92.82. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.27 and a current ratio of 0.27. The firm has a market capitalization of $22.73 billion, a P/E ratio of 15.05, a PEG ratio of 0.99 and a beta of 0.88. Principal Financial Group, Inc. has a fifty-two week low of $75.00 and a fifty-two week high of $105.56.

Principal Financial Group (NASDAQ:PFG) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $2.07 EPS for the quarter, beating the consensus estimate of $2.01 by $0.06. Principal Financial Group had a return on equity of 16.25% and a net margin of 10.10%.The firm had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $4.11 billion. During the same quarter last year, the firm earned $1.81 earnings per share. Research analysts expect that Principal Financial Group, Inc. will post 9.36 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.82 per share. The ex-dividend date is Monday, June 1st. This represents a $3.28 annualized dividend and a dividend yield of 3.1%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.80. Principal Financial Group’s payout ratio is presently 46.92%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PFG shares. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $92.00 price target on shares of Principal Financial Group in a research note on Thursday, March 26th. UBS Group lifted their price target on shares of Principal Financial Group from $92.00 to $94.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Bank of America dropped their price target on shares of Principal Financial Group from $96.00 to $92.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Morgan Stanley lifted their price target on shares of Principal Financial Group from $95.00 to $107.00 and gave the company an “equal weight” rating in a research note on Thursday, May 21st. Finally, Weiss Ratings cut shares of Principal Financial Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 1st. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Principal Financial Group has a consensus rating of “Hold” and a consensus price target of $98.10.

Principal Financial Group Profile

Principal Financial Group (NASDAQ: PFG) is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm’s business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal’s product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.