Interval Partners LP Increases Stake in Principal Financial Group, Inc. $PFG

Interval Partners LP raised its holdings in shares of Principal Financial Group, Inc. (NASDAQ:PFG) by 99.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 280,590 shares of the company’s stock after acquiring an additional 140,168 shares during the period. Interval Partners LP’s holdings in Principal Financial Group were worth $24,751,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PFG. DV Equities LLC bought a new position in shares of Principal Financial Group in the fourth quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Principal Financial Group in the fourth quarter worth approximately $26,000. Hilton Head Capital Partners LLC bought a new position in shares of Principal Financial Group in the fourth quarter worth approximately $26,000. Quest 10 Wealth Builders Inc. boosted its position in shares of Principal Financial Group by 343.6% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 346 shares of the company’s stock worth $30,000 after purchasing an additional 268 shares during the period. Finally, FWL Investment Management LLC bought a new position in shares of Principal Financial Group in the third quarter worth approximately $32,000. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Price Performance

Shares of NASDAQ:PFG opened at $110.22 on Thursday. 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 fifty day moving average price of $101.15 and a 200 day moving average price of $94.25. Principal Financial Group, Inc. has a fifty-two week low of $75.00 and a fifty-two week high of $112.07. The firm has a market cap of $23.81 billion, a price-to-earnings ratio of 15.77, a P/E/G ratio of 1.05 and a beta of 0.88.

Principal Financial Group (NASDAQ:PFG) last issued its earnings results on Wednesday, April 29th. The company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.06. Principal Financial Group had a net margin of 10.10% and a return on equity of 16.25%. The firm had revenue of $3.53 billion during the quarter, compared to analyst estimates of $4.11 billion. During the same quarter in the prior year, the business earned $1.81 earnings per share. As a group, sell-side 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 announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Monday, June 1st will be given a dividend of $0.82 per share. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.80. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Monday, June 1st. Principal Financial Group’s dividend payout ratio (DPR) is currently 46.92%.

Insiders Place Their Bets

In related news, insider Wee Yee Cheong sold 9,183 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $101.26, for a total transaction of $929,870.58. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel George Djurasovic sold 2,571 shares of the company’s 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 of the company’s stock, valued at approximately $2,208,781.98. This represents a 10.50% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 28,317 shares of company stock valued at $2,884,902. 1.13% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $92.00 price target on shares of Principal Financial Group in a research report on Thursday, March 26th. Bank of America dropped their price target on shares of Principal Financial Group from $96.00 to $92.00 and set a “neutral” rating for the company in a research report on Tuesday, April 14th. Morgan Stanley upped their price target on shares of Principal Financial Group from $95.00 to $107.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 21st. Weiss Ratings lowered shares of Principal Financial Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 1st. Finally, Raymond James Financial lowered shares of Principal Financial Group from a “strong-buy” rating to an “outperform” rating and upped their price target for the stock from $99.00 to $111.00 in a research report on Tuesday, May 19th. Three 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $98.10.

Principal Financial Group Company 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.