A.R.T. Advisors LLC Invests $1.52 Million in Principal Financial Group Inc (PFG) Stock

A.R.T. Advisors LLC acquired a new position in shares of Principal Financial Group Inc (NYSE:PFG) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 24,900 shares of the financial services provider’s stock, valued at approximately $1,516,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Rampart Investment Management Company LLC lifted its stake in Principal Financial Group by 426.8% during the first quarter. Rampart Investment Management Company LLC now owns 19,135 shares of the financial services provider’s stock worth $1,166,000 after purchasing an additional 15,503 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its stake in Principal Financial Group by 4.5% during the first quarter. Moneta Group Investment Advisors LLC now owns 60,800 shares of the financial services provider’s stock worth $3,703,000 after purchasing an additional 2,598 shares during the last quarter. Impax Asset Management LLC lifted its stake in Principal Financial Group by 38.3% during the first quarter. Impax Asset Management LLC now owns 69,909 shares of the financial services provider’s stock worth $4,258,000 after purchasing an additional 19,376 shares during the last quarter. Baird Financial Group Inc. lifted its stake in Principal Financial Group by 75.2% during the first quarter. Baird Financial Group Inc. now owns 26,372 shares of the financial services provider’s stock worth $1,606,000 after purchasing an additional 11,321 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its stake in Principal Financial Group by 37.3% during the first quarter. Nomura Asset Management Co. Ltd. now owns 103,782 shares of the financial services provider’s stock worth $6,322,000 after purchasing an additional 28,212 shares during the last quarter. Hedge funds and other institutional investors own 68.64% of the company’s stock.

Several equities analysts recently issued reports on PFG shares. Credit Suisse Group started coverage on Principal Financial Group in a research note on Wednesday, April 25th. They set a “neutral” rating and a $62.00 price objective on the stock. Wells Fargo & Co restated a “hold” rating and set a $68.00 price objective on shares of Principal Financial Group in a research note on Thursday, April 26th. Morgan Stanley dropped their target price on Principal Financial Group from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 5th. Bank of America assumed coverage on Principal Financial Group in a research report on Monday, March 26th. They issued a “neutral” rating and a $65.00 target price on the stock. Finally, Zacks Investment Research raised Principal Financial Group from a “sell” rating to a “hold” rating in a research report on Thursday, May 31st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. Principal Financial Group has a consensus rating of “Hold” and an average target price of $71.00.



Shares of Principal Financial Group opened at $55.64 on Friday, according to MarketBeat. Principal Financial Group Inc has a 1-year low of $54.88 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 issued its earnings results on Thursday, April 26th. The financial services provider reported $1.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.05. The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $3.54 billion. Principal Financial Group had a return on equity of 13.55% and a net margin of 12.35%. During the same period last year, the company earned $1.27 earnings per share. equities research analysts predict that Principal Financial Group Inc will post 5.22 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Monday, June 4th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.74%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Friday, June 1st.

Principal Financial Group declared that its Board of Directors has approved a share repurchase plan on Monday, May 7th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 1.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

In other news, insider James P. Mccaughan sold 20,000 shares of the firm’s stock in a transaction on Monday, June 4th. The stock was sold at an average price of $56.31, for a total transaction of $1,126,200.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.50% of the stock is currently owned by company insiders.

Principal Financial Group Profile

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. It operates through Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.

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

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