South Dakota Investment Council Acquires Shares of 19,900 Principal Financial Group Inc (NYSE:PFG)

South Dakota Investment Council purchased a new position in shares of Principal Financial Group Inc (NYSE:PFG) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 19,900 shares of the financial services provider’s stock, valued at approximately $1,280,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Janus Henderson Group PLC lifted its position in Principal Financial Group by 6,656.1% in the 2nd quarter. Janus Henderson Group PLC now owns 3,020,597 shares of the financial services provider’s stock valued at $193,529,000 after acquiring an additional 2,975,888 shares in the last quarter. Nordea Investment Management AB lifted its position in Principal Financial Group by 1,613.5% during the 2nd quarter. Nordea Investment Management AB now owns 668,624 shares of the financial services provider’s stock worth $42,839,000 after buying an additional 629,604 shares in the last quarter. Old Mutual Global Investors UK Ltd. lifted its position in Principal Financial Group by 104.5% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 1,180,596 shares of the financial services provider’s stock worth $75,959,000 after buying an additional 603,342 shares in the last quarter. BlackRock Inc. lifted its position in Principal Financial Group by 3.3% during the 2nd quarter. BlackRock Inc. now owns 18,306,790 shares of the financial services provider’s stock worth $1,172,916,000 after buying an additional 592,172 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Principal Financial Group by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 30,237,096 shares of the financial services provider’s stock worth $1,937,291,000 after buying an additional 587,221 shares in the last quarter. 68.81% of the stock is currently owned by institutional investors.

In related news, Chairman Daniel Joseph Houston sold 38,097 shares of the stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $68.00, for a total value of $2,590,596.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Karen E. Shaff sold 50,561 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $69.51, for a total transaction of $3,514,495.11. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 197,606 shares of company stock valued at $13,630,935. 1.50% of the stock is currently owned by insiders.

Principal Financial Group Inc (PFG) traded down $0.17 during midday trading on Wednesday, reaching $70.68. 1,218,600 shares of the company’s stock were exchanged, compared to its average volume of 1,112,975. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.26. The company has a market cap of $20,458.27, a P/E ratio of 13.81, a P/E/G ratio of 1.36 and a beta of 1.71. Principal Financial Group Inc has a 52-week low of $56.12 and a 52-week high of $72.23.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Thursday, October 26th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.30 by ($0.02). The business had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.12 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 firm earned $1.15 EPS. research 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 will be paid on Thursday, December 28th. Shareholders of record on Monday, December 4th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Friday, December 1st. This represents a $1.96 dividend on an annualized basis and a yield of 2.77%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.47. Principal Financial Group’s payout ratio is currently 32.13%.

Several equities research analysts have commented on PFG shares. Zacks Investment Research raised shares of Principal Financial Group from a “sell” rating to a “hold” rating and set a $73.00 price target on the stock in a research report on Monday, October 2nd. Wells Fargo & Company set a $76.00 price objective on shares of Principal Financial Group and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Goldman Sachs Group initiated coverage on shares of Principal Financial Group in a research note on Wednesday, October 18th. They set a “neutral” rating and a $70.00 price objective on the stock. Morgan Stanley boosted their price objective on shares of Principal Financial Group from $67.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 5th. Finally, Barclays boosted their price objective on shares of Principal Financial Group from $61.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday, August 11th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. Principal Financial Group presently has an average rating of “Hold” and a consensus price target of $67.40.

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Principal Financial Group 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.

Institutional Ownership by Quarter for Principal Financial Group (NYSE:PFG)

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