Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Principal Financial Group Inc (NYSE:PFG) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 497,260 shares of the financial services provider’s stock, valued at approximately $35,087,000. Amundi Pioneer Asset Management Inc. owned about 0.17% of Principal Financial Group at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Tower Research Capital LLC TRC purchased a new stake in Principal Financial Group in the fourth quarter worth $174,000. Acadian Asset Management LLC increased its position in Principal Financial Group by 215.0% in the fourth quarter. Acadian Asset Management LLC now owns 2,611 shares of the financial services provider’s stock worth $184,000 after buying an additional 1,782 shares during the last quarter. Resources Investment Advisors Inc. increased its position in Principal Financial Group by 268.6% in the fourth quarter. Resources Investment Advisors Inc. now owns 2,997 shares of the financial services provider’s stock worth $155,000 after buying an additional 2,184 shares during the last quarter. Synovus Financial Corp purchased a new stake in Principal Financial Group in the fourth quarter worth $214,000. Finally, First Heartland Consultants Inc. purchased a new stake in Principal Financial Group in the third quarter worth $224,000. 68.64% of the stock is owned by institutional investors.
PFG has been the subject of a number of recent research reports. Zacks Investment Research raised Principal Financial Group from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research report on Friday, January 12th. Wells Fargo set a $79.00 target price on Principal Financial Group and gave the stock a “buy” rating in a research report on Thursday, December 7th. Goldman Sachs upgraded Principal Financial Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 9th. Barclays upgraded Principal Financial Group from an “equal weight” rating to an “overweight” rating and set a $72.00 price target for the company in a research report on Monday, February 12th. Finally, Morgan Stanley reduced their price target on Principal Financial Group from $80.00 to $79.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 30th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $72.36.
In related news, Chairman Daniel Joseph Houston sold 69,894 shares of Principal Financial Group stock in a transaction on Friday, January 5th. The stock was sold at an average price of $72.01, for a total transaction of $5,033,066.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy Mark Dunbar sold 16,400 shares of Principal Financial Group stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $70.23, for a total value of $1,151,772.00. The disclosure for this sale can be found here. Insiders have sold 158,122 shares of company stock valued at $11,126,142 in the last three months. 1.50% of the stock is owned by corporate insiders.
Shares of NYSE PFG traded down $1.49 during mid-day trading on Monday, hitting $59.42. The company had a trading volume of 3,104,527 shares, compared to its average volume of 1,624,892. Principal Financial Group Inc has a 1 year low of $57.62 and a 1 year high of $75.58. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.26.
Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Monday, January 29th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.37 by ($0.18). The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.32 billion. Principal Financial Group had a net margin of 12.35% and a return on equity of 13.55%. During the same period in the prior year, the business posted $1.27 EPS. sell-side analysts forecast that Principal Financial Group Inc will post 5.22 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Monday, March 5th were paid a dividend of $0.51 per share. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.49. The ex-dividend date was Friday, March 2nd. This represents a $2.04 annualized dividend and a yield of 3.43%.
COPYRIGHT VIOLATION NOTICE: “497,260 Shares in Principal Financial Group Inc (PFG) Acquired by Amundi Pioneer Asset Management Inc.” was first reported by Enterprise Leader and is the sole property of of Enterprise Leader. If you are reading this story on another publication, it was copied illegally and reposted in violation of U.S. and international trademark and copyright law. The original version of this story can be read at https://theenterpriseleader.com/2018/04/02/amundi-pioneer-asset-management-inc-takes-35-09-million-position-in-principal-financial-group-inc-pfg.html.
Principal Financial Group Company Profile
Principal Financial Group, Inc is an investment management company. The Company offers a range of financial products and services, including retirement, asset management and insurance. Its segments include Retirement and Income Solutions; Principal Global Investors, Principal International; U.S. Insurance Solutions, and Corporate.
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.