Andra AP fonden acquired a new stake in shares of Principal Financial Group Inc (NYSE:PFG) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 121,000 shares of the financial services provider’s stock, valued at approximately $6,073,000.
A number of other hedge funds have also recently made changes to their positions in PFG. US Bancorp DE raised its stake in Principal Financial Group by 7.7% during the 1st quarter. US Bancorp DE now owns 74,059 shares of the financial services provider’s stock worth $3,717,000 after acquiring an additional 5,266 shares during the period. Bank of New York Mellon Corp raised its stake in Principal Financial Group by 16.6% during the 4th quarter. Bank of New York Mellon Corp now owns 8,137,409 shares of the financial services provider’s stock worth $359,430,000 after acquiring an additional 1,155,996 shares during the period. South Dakota Investment Council raised its position in shares of Principal Financial Group by 28.1% during the first quarter. South Dakota Investment Council now owns 25,500 shares of the financial services provider’s stock valued at $1,280,000 after buying an additional 5,600 shares during the last quarter. Amundi Pioneer Asset Management Inc. raised its position in shares of Principal Financial Group by 130.0% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,179,613 shares of the financial services provider’s stock valued at $52,104,000 after buying an additional 666,657 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in shares of Principal Financial Group by 71.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 67,517 shares of the financial services provider’s stock valued at $3,804,000 after buying an additional 28,199 shares during the last quarter. 68.64% of the stock is currently owned by institutional investors.
NYSE PFG traded up $0.16 on Friday, hitting $58.81. 927,281 shares of the stock were exchanged, compared to its average volume of 1,554,933. The business has a fifty day moving average price of $55.57. Principal Financial Group Inc has a 52-week low of $40.42 and a 52-week high of $61.12.
The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date of this dividend was Friday, May 31st.
Several research firms have recently issued reports on PFG. Zacks Investment Research upgraded shares of Principal Financial Group from a “sell” rating to a “hold” rating and set a $59.00 price objective on the stock in a research report on Wednesday, April 3rd. UBS Group raised their target price on shares of Principal Financial Group from $45.00 to $48.00 and gave the company a “sell” rating in a report on Tuesday, April 9th. Finally, Royal Bank of Canada raised their target price on shares of Principal Financial Group to $55.00 and gave the company a “market perform” rating in a report on Monday, April 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $57.88.
In other news, EVP Julia M. Lawler sold 1,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $57.25, for a total transaction of $57,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Luis E. Valdes sold 47,661 shares of Principal Financial Group stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $57.67, for a total value of $2,748,609.87. The disclosure for this sale can be found here. Insiders have sold 50,661 shares of company stock valued at $2,915,900 over the last three months. Insiders own 1.50% of the company’s stock.
About Principal Financial Group
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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