Principal Financial Group, Inc. (NASDAQ:PFG) Shares Sold by AdvisorNet Financial Inc

AdvisorNet Financial Inc decreased its holdings in Principal Financial Group, Inc. (NASDAQ:PFGGet Rating) by 30.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 1,232 shares of the company’s stock after selling 531 shares during the period. AdvisorNet Financial Inc’s holdings in Principal Financial Group were worth $82,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Concord Wealth Partners raised its holdings in Principal Financial Group by 3.1% in the first quarter. Concord Wealth Partners now owns 4,751 shares of the company’s stock valued at $349,000 after buying an additional 145 shares during the period. CIBC Asset Management Inc raised its holdings in Principal Financial Group by 0.6% in the first quarter. CIBC Asset Management Inc now owns 25,225 shares of the company’s stock valued at $1,852,000 after buying an additional 155 shares during the period. CVA Family Office LLC raised its holdings in Principal Financial Group by 29.3% in the first quarter. CVA Family Office LLC now owns 750 shares of the company’s stock valued at $55,000 after buying an additional 170 shares during the period. Columbus Macro LLC raised its stake in shares of Principal Financial Group by 0.7% during the first quarter. Columbus Macro LLC now owns 27,192 shares of the company’s stock valued at $1,996,000 after purchasing an additional 177 shares during the period. Finally, Kinneret Advisory LLC raised its stake in shares of Principal Financial Group by 2.3% during the first quarter. Kinneret Advisory LLC now owns 8,377 shares of the company’s stock valued at $615,000 after purchasing an additional 187 shares during the period. Hedge funds and other institutional investors own 75.12% of the company’s stock.

Principal Financial Group Stock Performance

Shares of PFG opened at $76.06 on Thursday. Principal Financial Group, Inc. has a 1 year low of $61.05 and a 1 year high of $80.36. The company has a market cap of $18.96 billion, a price-to-earnings ratio of 4.62, a price-to-earnings-growth ratio of 2.03 and a beta of 1.30. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.39 and a current ratio of 0.39. The firm has a fifty day moving average of $74.26 and a 200-day moving average of $69.46.

Principal Financial Group (NASDAQ:PFGGet Rating) last announced its quarterly earnings results on Monday, August 8th. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.26. Principal Financial Group had a net margin of 24.69% and a return on equity of 13.09%. The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.24 billion. As a group, equities analysts anticipate that Principal Financial Group, Inc. will post 6.43 earnings per share for the current year.

Principal Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 8th will be issued a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Wednesday, September 7th. Principal Financial Group’s dividend payout ratio (DPR) is 15.56%.

Insider Activity

In related news, Director Sandra L. Helton sold 15,000 shares of the company’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $72.90, for a total value of $1,093,500.00. Following the completion of the sale, the director now owns 32,278 shares of the company’s stock, valued at $2,353,066.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Principal Financial Group news, EVP Roberto Walker sold 12,975 shares of the business’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $78.04, for a total value of $1,012,569.00. Following the sale, the executive vice president now directly owns 43,008 shares in the company, valued at $3,356,344.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sandra L. Helton sold 15,000 shares of the business’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $72.90, for a total transaction of $1,093,500.00. Following the completion of the sale, the director now owns 32,278 shares in the company, valued at $2,353,066.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,422 shares of company stock valued at $3,462,066. 1.17% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PFG has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective on shares of Principal Financial Group from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 17th. Piper Sandler dropped their price target on shares of Principal Financial Group from $74.00 to $72.00 and set a “neutral” rating for the company in a research note on Friday, July 8th. Raymond James assumed coverage on shares of Principal Financial Group in a research note on Wednesday. They issued a “market perform” rating for the company. Evercore ISI lifted their price target on shares of Principal Financial Group to $76.00 in a research note on Monday, August 15th. Finally, Credit Suisse Group lowered shares of Principal Financial Group from an “outperform” rating to a “neutral” rating and lifted their price target for the stock from $82.00 to $86.00 in a research note on Thursday, August 18th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $71.82.

Principal Financial Group Profile

(Get Rating)

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.

See Also

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

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