Principal Financial Group (NYSE:PFG) issued its quarterly earnings results on Thursday. The financial services provider reported $1.52 EPS for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.12, Briefing.com reports. The business had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter last year, the business posted $1.35 earnings per share.
Shares of PFG traded up $0.59 during mid-day trading on Friday, hitting $60.68. The stock had a trading volume of 1,473,087 shares, compared to its average volume of 1,513,541. The stock’s fifty day moving average price is $57.70. Principal Financial Group has a 52 week low of $40.42 and a 52 week high of $61.12.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, September 5th will be paid a $0.55 dividend. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.54. This represents a $2.20 annualized dividend and a dividend yield of 3.63%.
A number of brokerages recently commented on PFG. UBS Group reiterated a “buy” rating and set a $25.00 price target on shares of Infineon Technologies in a report on Tuesday, May 7th. Zacks Investment Research lowered EXACT Sciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Royal Bank of Canada lifted their price target on Principal Financial Group to $55.00 and gave the stock a “market perform” rating in a report on Monday, April 29th. Finally, Morgan Stanley set a CHF 105 price target on Nestlé and gave the stock a “buy” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $56.14.
In other Principal Financial Group news, EVP Julia M. Lawler sold 1,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $57.25, for a total value of $57,250.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Luis E. Valdes sold 11,829 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $59.54, for a total value of $704,298.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,490 shares of company stock worth $3,620,199. Corporate insiders own 1.50% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. FTB Advisors Inc. raised its stake in shares of Principal Financial Group by 377.3% in the first quarter. FTB Advisors Inc. now owns 525 shares of the financial services provider’s stock valued at $26,000 after buying an additional 415 shares during the period. NuWave Investment Management LLC grew its position in shares of Principal Financial Group by 464.4% in the first quarter. NuWave Investment Management LLC now owns 570 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 469 shares in the last quarter. Thor Advisors LLC purchased a new position in shares of Principal Financial Group in the first quarter valued at $38,000. Pittenger & Anderson Inc. purchased a new position in shares of Principal Financial Group in the first quarter valued at $40,000. Finally, Tompkins Financial Corp purchased a new position in shares of Principal Financial Group in the first quarter valued at $42,000. Hedge funds and other institutional investors own 68.64% 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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