Koch Industries Inc. lifted its stake in shares of Principal Financial Group Inc (NYSE:PFG) by 88.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,695 shares of the financial services provider’s stock after purchasing an additional 5,014 shares during the quarter. Koch Industries Inc.’s holdings in Principal Financial Group were worth $755,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Resources Investment Advisors Inc. raised 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 acquiring an additional 2,184 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in Principal Financial Group in the 4th quarter worth about $174,000. Acadian Asset Management LLC increased its stake in Principal Financial Group by 215.0% in the 4th quarter. Acadian Asset Management LLC now owns 2,611 shares of the financial services provider’s stock worth $184,000 after purchasing an additional 1,782 shares in the last quarter. Synovus Financial Corp purchased a new position in Principal Financial Group in the 4th quarter worth about $214,000. Finally, First Heartland Consultants Inc. purchased a new position in Principal Financial Group in the 3rd quarter worth about $224,000. Institutional investors and hedge funds own 68.64% of the company’s stock.
In related news, Chairman Daniel Joseph Houston sold 69,894 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $72.01, for a total value of $5,033,066.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Luis E. Valdes sold 47,662 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $70.04, for a total value of $3,338,246.48. The disclosure for this sale can be found here. In the last three months, insiders sold 205,784 shares of company stock valued at $14,464,389. 1.50% of the stock is currently owned by company insiders.
Shares of Principal Financial Group Inc (NYSE PFG) traded down $0.63 during midday trading on Wednesday, hitting $62.05. The company had a trading volume of 894,241 shares, compared to its average volume of 1,552,169. The company has a market cap of $18,160.00, a PE ratio of 10.61, a price-to-earnings-growth ratio of 1.35 and a beta of 1.60. Principal Financial Group Inc has a 1-year low of $59.25 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 announced its quarterly earnings results on Monday, January 29th. The financial services provider reported $1.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.37 by ($0.18). The firm had revenue of $3.28 billion during 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 previous year, the firm posted $1.27 EPS. analysts predict that Principal Financial Group Inc will post 5.22 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Monday, March 5th will be paid a $0.51 dividend. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.49. The ex-dividend date is Friday, March 2nd. This represents a $2.04 annualized dividend and a dividend yield of 3.29%. Principal Financial Group’s payout ratio is presently 34.87%.
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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.
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