New Mexico Educational Retirement Board Raises Stake in Principal Financial Group Inc (PFG)

New Mexico Educational Retirement Board lifted its stake in shares of Principal Financial Group Inc (NYSE:PFG) by 3.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 25,804 shares of the financial services provider’s stock after buying an additional 900 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Principal Financial Group were worth $1,821,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PFG. Resources Investment Advisors Inc. increased its position in shares of Principal Financial Group by 268.6% during the fourth quarter. Resources Investment Advisors Inc. now owns 2,997 shares of the financial services provider’s stock worth $155,000 after acquiring an additional 2,184 shares during the period. Acadian Asset Management LLC increased its position in shares of Principal Financial Group by 215.0% during the fourth quarter. Acadian Asset Management LLC now owns 2,611 shares of the financial services provider’s stock worth $184,000 after acquiring an additional 1,782 shares during the period. Koch Industries Inc. purchased a new position in shares of Principal Financial Group during the second quarter worth approximately $210,000. First Heartland Consultants Inc. purchased a new position in shares of Principal Financial Group during the third quarter worth approximately $224,000. Finally, Honkamp Krueger Financial Services Inc. purchased a new position in shares of Principal Financial Group during the third quarter worth approximately $226,000. 68.64% of the stock is currently owned by institutional investors and hedge funds.

PFG has been the topic of a number of research reports. Wells Fargo & Co reaffirmed a “market perform” rating and set a $76.00 target price on shares of Principal Financial Group in a research report on Monday, January 8th. Zacks Investment Research lowered shares of Principal Financial Group from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. Goldman Sachs Group raised shares of Principal Financial Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 9th. Morgan Stanley reduced their target price on shares of Principal Financial Group from $80.00 to $79.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 30th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $73.00 target price on shares of Principal Financial Group in a research report on Monday, December 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $73.56.

In other news, EVP Timothy Mark Dunbar sold 16,400 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $70.23, for a total transaction of $1,151,772.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Nora Mary Everett sold 17,290 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $70.16, for a total transaction of $1,213,066.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 301,958 shares of company stock worth $21,343,156. Insiders own 1.50% of the company’s stock.

Principal Financial Group Inc (NYSE:PFG) opened at $63.05 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.10 and a current ratio of 0.10. Principal Financial Group Inc has a one year low of $59.25 and a one year high of $75.58. The stock has a market cap of $18,210.00, a P/E ratio of 8.00, a PEG ratio of 1.35 and a beta of 1.58.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Monday, January 29th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.37 by ($0.18). Principal Financial Group had a net margin of 12.35% and a return on equity of 13.55%. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.32 billion. During the same quarter in the prior year, the business posted $1.27 earnings per share. analysts predict that Principal Financial Group Inc will post 5.22 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Monday, March 5th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, March 2nd. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.49. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.24%. Principal Financial Group’s dividend payout ratio (DPR) is currently 24.87%.

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About Principal Financial Group

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.

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

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