Principal Financial Group, Inc. (NASDAQ:PFG) Shares Acquired by MBM Wealth Consultants LLC

MBM Wealth Consultants LLC increased its stake in Principal Financial Group, Inc. (NASDAQ:PFGGet Rating) by 39.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 990 shares of the company’s stock after buying an additional 280 shares during the quarter. MBM Wealth Consultants LLC’s holdings in Principal Financial Group were worth $73,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. HighTower Advisors LLC grew its stake in Principal Financial Group by 10.9% during the 4th quarter. HighTower Advisors LLC now owns 12,822 shares of the company’s stock valued at $926,000 after purchasing an additional 1,257 shares in the last quarter. WINTON GROUP Ltd bought a new position in Principal Financial Group during the 4th quarter worth approximately $588,000. Aviva PLC lifted its holdings in Principal Financial Group by 4.2% during the 4th quarter. Aviva PLC now owns 84,484 shares of the company’s stock worth $6,111,000 after buying an additional 3,394 shares during the last quarter. Citigroup Inc. lifted its holdings in Principal Financial Group by 2.1% during the 4th quarter. Citigroup Inc. now owns 262,879 shares of the company’s stock worth $19,014,000 after buying an additional 5,430 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in Principal Financial Group by 0.9% during the 4th quarter. Rhumbline Advisers now owns 432,741 shares of the company’s stock worth $31,300,000 after buying an additional 3,750 shares during the last quarter. Institutional investors and hedge funds own 75.12% of the company’s stock.

Principal Financial Group Stock Up 1.9 %

NASDAQ PFG opened at $78.29 on Friday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.39. The stock’s 50 day moving average is $72.21 and its two-hundred day moving average is $69.05. The company has a market capitalization of $19.51 billion, a price-to-earnings ratio of 4.76, a PEG ratio of 2.09 and a beta of 1.30. Principal Financial Group, Inc. has a 1-year low of $60.97 and a 1-year high of $80.36.

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

Principal Financial Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 8th will be issued a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend is Wednesday, September 7th. Principal Financial Group’s payout ratio is currently 15.56%.

Insider Transactions at Principal Financial Group

In other Principal Financial Group news, Director Sandra L. Helton sold 15,000 shares of the company’s stock in a transaction on 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 transaction, the director now owns 32,278 shares of the company’s stock, valued at approximately $2,353,066.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Principal Financial Group news, EVP Roberto Walker sold 6,000 shares of the company’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $78.58, for a total transaction of $471,480.00. Following the completion of the sale, the executive vice president now owns 43,008 shares in the company, valued at approximately $3,379,568.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sandra L. Helton sold 15,000 shares of the company’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $72.90, for a total transaction of $1,093,500.00. Following the sale, the director now owns 32,278 shares of the company’s stock, valued at approximately $2,353,066.20. The disclosure for this sale can be found here. Insiders have sold 42,975 shares of company stock valued at $3,270,099 in the last three months. 1.17% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PFG has been the topic of several recent research reports. Credit Suisse Group downgraded Principal Financial Group from an “outperform” rating to a “neutral” rating and raised their price target for the stock from $82.00 to $86.00 in a report on Thursday, August 18th. Citigroup started coverage on Principal Financial Group in a report on Monday, May 23rd. They issued a “sell” rating and a $63.00 price target on the stock. JPMorgan Chase & Co. lowered their target price on Principal Financial Group from $72.00 to $69.00 in a research report on Monday, July 11th. Royal Bank of Canada lowered their target price on Principal Financial Group from $79.00 to $70.00 in a research report on Monday, July 11th. Finally, Piper Sandler lowered their target price on Principal Financial Group from $74.00 to $72.00 and set a “neutral” rating on the stock in a research report on Friday, July 8th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $71.82.

About Principal Financial Group

(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.

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

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