Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Principal Financial Group, Inc. (NASDAQ:PFG – Get Rating) by 77.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,672 shares of the company’s stock after purchasing an additional 12,997 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Principal Financial Group were worth $2,178,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Squarepoint Ops LLC grew its position in shares of Principal Financial Group by 32.9% in the 3rd quarter. Squarepoint Ops LLC now owns 4,869 shares of the company’s stock worth $314,000 after buying an additional 1,204 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Principal Financial Group by 37.8% in the 3rd quarter. Janus Henderson Group PLC now owns 284,629 shares of the company’s stock worth $18,329,000 after buying an additional 78,034 shares during the last quarter. Cetera Advisors LLC grew its position in shares of Principal Financial Group by 46.6% in the 3rd quarter. Cetera Advisors LLC now owns 4,701 shares of the company’s stock worth $303,000 after buying an additional 1,495 shares during the last quarter. Captrust Financial Advisors grew its position in shares of Principal Financial Group by 4.1% in the 3rd quarter. Captrust Financial Advisors now owns 14,953 shares of the company’s stock worth $963,000 after buying an additional 586 shares during the last quarter. Finally, Moors & Cabot Inc. bought a new stake in shares of Principal Financial Group in the 3rd quarter worth approximately $55,000. 77.69% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on the company. Royal Bank of Canada dropped their price target on Principal Financial Group from $82.00 to $79.00 and set a “sector perform” rating on the stock in a research report on Thursday, March 3rd. Piper Sandler lifted their price target on Principal Financial Group from $76.00 to $78.00 and gave the company a “neutral” rating in a research report on Wednesday, April 6th. Morgan Stanley dropped their price target on Principal Financial Group from $75.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 3rd. Finally, Citigroup assumed coverage on Principal Financial Group in a research report on Monday, May 23rd. They set a “sell” rating and a $63.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Principal Financial Group presently has an average rating of “Hold” and a consensus target price of $73.70.
Principal Financial Group stock opened at $66.79 on Friday. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.36. The business’s fifty day simple moving average is $69.22 and its two-hundred day simple moving average is $71.40. Principal Financial Group, Inc. has a 12 month low of $58.66 and a 12 month high of $80.36. The company has a market capitalization of $16.88 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 1.27 and a beta of 1.46.Principal Financial Group (NASDAQ:PFG – Get Rating) last posted its quarterly earnings results on Thursday, April 28th. The company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.12. Principal Financial Group had a return on equity of 12.25% and a net margin of 11.08%. The firm had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the previous year, the business earned $1.53 earnings per share. On average, equities research analysts predict that Principal Financial Group, Inc. will post 6.65 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 24th. Stockholders of record on Thursday, June 2nd were paid a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 3.83%. The ex-dividend date of this dividend was Wednesday, June 1st. Principal Financial Group’s dividend payout ratio is currently 43.91%.
In other news, EVP Wee Yee Cheong sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $71.00, for a total value of $710,000.00. Following the completion of the transaction, the executive vice president now owns 37,093 shares in the company, valued at $2,633,603. 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 insiders.
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.
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Sumitomo Mitsui DS Asset Management Company Ltd Increases Stake in Principal Financial Group, Inc. (NASDAQ:PFG) - Defense World
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