Wedge Capital Management L L P NC trimmed its holdings in Principal Financial Group, Inc. (NASDAQ:PFG – Get Rating) by 2.9% in the first quarter, Holdings Channel reports. The institutional investor owned 471,392 shares of the company’s stock after selling 13,955 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Principal Financial Group were worth $34,605,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the stock. Glassy Mountain Advisors Inc. purchased a new position in shares of Principal Financial Group during the 1st quarter valued at $220,000. CHURCHILL MANAGEMENT Corp purchased a new position in shares of Principal Financial Group during the 1st quarter valued at $6,692,000. Sound Income Strategies LLC grew its position in shares of Principal Financial Group by 15.1% during the 1st quarter. Sound Income Strategies LLC now owns 166,315 shares of the company’s stock valued at $12,209,000 after purchasing an additional 21,843 shares in the last quarter. Acropolis Investment Management LLC grew its position in shares of Principal Financial Group by 12.1% during the 1st quarter. Acropolis Investment Management LLC now owns 13,988 shares of the company’s stock valued at $1,027,000 after purchasing an additional 1,506 shares in the last quarter. Finally, Contravisory Investment Management Inc. purchased a new position in shares of Principal Financial Group during the 1st quarter valued at $391,000. Institutional investors and hedge funds own 77.69% of the company’s stock.
In related news, EVP Wee Yee Cheong sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $71.00, for a total transaction of $710,000.00. Following the transaction, the executive vice president now owns 37,093 shares in the company, valued at $2,633,603. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.17% of the stock is owned by insiders.
Shares of NASDAQ PFG traded down $0.39 during midday trading on Wednesday, hitting $65.09. 4,514 shares of the company traded hands, compared to its average volume of 1,570,094. Principal Financial Group, Inc. has a 12-month low of $58.66 and a 12-month high of $80.36. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.10 and a current ratio of 0.10. The stock has a 50-day moving average price of $70.28 and a 200 day moving average price of $71.61. The firm has a market cap of $16.45 billion, a P/E ratio of 11.23, a P/E/G ratio of 1.19 and a beta of 1.46.Principal Financial Group (NASDAQ:PFG – Get Rating) last announced its quarterly earnings results on Thursday, April 28th. The company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.12. Principal Financial Group had a net margin of 11.08% and a return on equity of 12.25%. The company had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the previous year, the company earned $1.53 earnings per share. As a group, equities analysts expect that Principal Financial Group, Inc. will post 6.65 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 24th. Investors of record on Thursday, June 2nd will be given a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend is Wednesday, June 1st. Principal Financial Group’s dividend payout ratio is currently 43.91%.
Several research analysts recently issued reports on PFG shares. Morgan Stanley cut their target price on shares of Principal Financial Group from $75.00 to $72.00 and set an “equal weight” rating for the company in a research report on Thursday, March 3rd. Citigroup started coverage on shares of Principal Financial Group in a research report on Monday, May 23rd. They issued a “sell” rating and a $63.00 target price for the company. Royal Bank of Canada lowered their price target on shares of Principal Financial Group from $82.00 to $79.00 and set a “sector perform” rating for the company in a research note on Thursday, March 3rd. Finally, Piper Sandler upped their price objective on shares of Principal Financial Group from $76.00 to $78.00 and gave the company a “neutral” rating in a research note on Wednesday, April 6th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Principal Financial Group presently has an average rating of “Hold” and an average target price of $73.70.
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.
Recommended Stories
Want to see what other hedge funds are holding PFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Principal Financial Group, Inc. (NASDAQ:PFG – Get Rating).
Receive News & Ratings for Principal Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Principal Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.
Wedge Capital Management L L P NC Trims Stock Holdings in Principal Financial Group, Inc. (NASDAQ:PFG) - Defense World
Read More
Tidak ada komentar:
Posting Komentar