MetLife Investment Advisors LLC trimmed its stake in Principal Financial Group Inc (NYSE:PFG) by 2.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,599 shares of the financial services provider’s stock after selling 1,702 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Principal Financial Group were worth $3,694,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of PFG. FTB Advisors Inc. raised its holdings in shares of Principal Financial Group by 377.3% during the 1st quarter. FTB Advisors Inc. now owns 525 shares of the financial services provider’s stock worth $26,000 after buying an additional 415 shares in the last quarter. NuWave Investment Management LLC raised its holdings in shares of Principal Financial Group by 464.4% during the 1st quarter. NuWave Investment Management LLC now owns 570 shares of the financial services provider’s stock worth $28,000 after buying an additional 469 shares in the last quarter. Thor Advisors LLC bought a new stake in Principal Financial Group during the 1st quarter worth $38,000. Pittenger & Anderson Inc. bought a new stake in Principal Financial Group during the 1st quarter worth $40,000. Finally, Bremer Trust National Association bought a new stake in Principal Financial Group during the 4th quarter worth $41,000. Institutional investors own 68.64% of the company’s stock.
PFG has been the topic of a number of research reports. Royal Bank of Canada boosted their price objective on Principal Financial Group to $55.00 and gave the stock a “market perform” rating in a research report on Monday, April 29th. UBS Group reiterated a “buy” rating and issued a $25.00 price target on shares of Infineon Technologies in a research report on Tuesday, May 7th. Finally, Zacks Investment Research lowered EXACT Sciences from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $56.43.
Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.32 by $0.11. The company had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same period last year, the company earned $1.40 earnings per share.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 3rd were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend was Friday, May 31st.
In other news, EVP Julia M. Lawler sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $51.50, for a total value of $51,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Luis E. Valdes sold 47,661 shares of the company’s stock in a transaction that occurred on 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. Over the last three months, insiders sold 50,661 shares of company stock valued at $2,915,900. Company insiders own 1.50% of the company’s stock.
Principal Financial Group Company Profile
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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