Janney Montgomery Scott LLC Boosts Holdings in Principal Financial Group, Inc. (NASDAQ:PFG)

Janney Montgomery Scott LLC increased its position in shares of Principal Financial Group, Inc. (NASDAQ:PFGGet Rating) by 33.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,222 shares of the company’s stock after buying an additional 6,070 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Principal Financial Group were worth $1,748,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PFG. Allworth Financial LP increased its stake in Principal Financial Group by 25.1% during the third quarter. Allworth Financial LP now owns 7,324 shares of the company’s stock worth $528,000 after acquiring an additional 1,470 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Principal Financial Group by 2.5% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 765,400 shares of the company’s stock worth $51,121,000 after acquiring an additional 18,894 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Principal Financial Group by 58.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 132,677 shares of the company’s stock worth $9,573,000 after acquiring an additional 48,750 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in Principal Financial Group by 6.4% during the second quarter. Commonwealth Equity Services LLC now owns 67,055 shares of the company’s stock worth $4,478,000 after acquiring an additional 4,005 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Principal Financial Group during the second quarter worth $358,000. 74.21% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Sandra L. Helton sold 14,033 shares of the business’s stock in a transaction dated Tuesday, October 18th. The stock was sold at an average price of $80.05, for a total value of $1,123,341.65. Following the completion of the sale, the director now directly owns 18,245 shares of the company’s stock, valued at approximately $1,460,512.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.17% of the stock is owned by company insiders.

Principal Financial Group Stock Up 1.1 %

Shares of NASDAQ PFG opened at $89.32 on Monday. The company has a market capitalization of $21.86 billion, a price-to-earnings ratio of 4.33, a price-to-earnings-growth ratio of 2.32 and a beta of 1.27. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.37 and a quick ratio of 0.37. The business has a 50-day moving average of $88.67 and a two-hundred day moving average of $81.05. Principal Financial Group, Inc. has a 1 year low of $61.05 and a 1 year high of $96.17.

Principal Financial Group (NASDAQ:PFGGet Rating) last announced its quarterly earnings results on Thursday, October 27th. The company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.24. The company had revenue of $3.44 billion during the quarter, compared to the consensus estimate of $3.05 billion. Principal Financial Group had a return on equity of 14.61% and a net margin of 28.67%. On average, analysts forecast that Principal Financial Group, Inc. will post 6.48 earnings per share for the current fiscal year.

Principal Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 19th. Shareholders of record on Thursday, December 1st were issued a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend was Wednesday, November 30th. Principal Financial Group’s dividend payout ratio (DPR) is 12.41%.

Wall Street Analysts Forecast Growth

PFG has been the subject of a number of research reports. Keefe, Bruyette & Woods cut Principal Financial Group from a “market perform” rating to an “underperform” rating and lifted their price objective for the company from $75.00 to $77.00 in a research note on Monday, October 31st. Credit Suisse Group cut Principal Financial Group from a “neutral” rating to an “underperform” rating and set a $86.00 price objective for the company. in a research note on Thursday, December 8th. Raymond James initiated coverage on Principal Financial Group in a research note on Wednesday, September 21st. They issued a “market perform” rating for the company. Citigroup lifted their price objective on Principal Financial Group from $62.00 to $65.00 in a research note on Wednesday, November 16th. Finally, Barclays cut Principal Financial Group from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $81.00 to $89.00 in a research note on Tuesday, November 1st. Eight analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $78.25.

Principal Financial Group Company 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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