IBM Retirement Fund lowered its holdings in Principal Financial Group Inc (NYSE:PFG) by 4.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,032 shares of the financial services provider’s stock after selling 202 shares during the quarter. IBM Retirement Fund’s holdings in Principal Financial Group were worth $222,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Principal Financial Group by 1.0% in the second quarter. Vanguard Group Inc. now owns 30,454,224 shares of the financial services provider’s stock worth $1,763,908,000 after purchasing an additional 305,393 shares in the last quarter. Invesco Ltd. boosted its stake in Principal Financial Group by 25.5% in the second quarter. Invesco Ltd. now owns 3,938,036 shares of the financial services provider’s stock worth $228,092,000 after purchasing an additional 800,950 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in Principal Financial Group by 19,214.5% in the second quarter. Nuveen Asset Management LLC now owns 1,342,167 shares of the financial services provider’s stock worth $77,739,000 after purchasing an additional 1,335,218 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Principal Financial Group by 7.9% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,156,175 shares of the financial services provider’s stock worth $66,064,000 after purchasing an additional 84,206 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its stake in Principal Financial Group by 2.8% in the third quarter. Parametric Portfolio Associates LLC now owns 1,105,917 shares of the financial services provider’s stock worth $63,192,000 after purchasing an additional 30,110 shares in the last quarter. 68.64% of the stock is currently owned by institutional investors.
A number of equities analysts have commented on PFG shares. UBS Group reduced their price objective on Principal Financial Group from $49.00 to $48.00 and set a “sell” rating on the stock in a research note on Thursday, October 10th. Morgan Stanley set a $56.00 price objective on Principal Financial Group and gave the stock a “hold” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Principal Financial Group presently has a consensus rating of “Hold” and an average price target of $57.40.
In other news, EVP Julia M. Lawler sold 1,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $54.63, for a total transaction of $54,630.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.50% of the company’s stock.
PFG stock opened at $55.70 on Friday. Principal Financial Group Inc has a twelve month low of $45.07 and a twelve month high of $60.81. The business has a fifty day moving average of $54.60 and a 200-day moving average of $55.60.
Principal Financial Group (NYSE:PFG) last released its earnings results on Thursday, October 24th. The financial services provider reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.23). During the same period in the prior year, the company posted $1.67 earnings per share.
The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.55 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.95%.
About Principal Financial Group
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.
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