The Nicolet Bankshares Inc. Acquires 240 Shares of Principal Financial Group Inc. (PFG)

The Nicolet Bankshares Inc. Acquires 240 Shares of Principal Financial Group Inc. (PFG)

Nicolet Bankshares Inc. raised its stake in Principal Financial Group Inc. (NYSE:PFG) by 2.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,368 shares of the company’s stock after buying an additional 240 shares during the period. Nicolet Bankshares Inc.’s holdings in Principal Financial Group were worth $467,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Pictet Asset Management Ltd. boosted its position in shares of Principal Financial Group by 2.0% in the first quarter. Pictet Asset Management Ltd. now owns 162,533 shares of the company’s stock valued at $6,145,000 after buying an additional 3,200 shares in the last quarter. State Street Corp boosted its position in Principal Financial Group by 0.4% in the first quarter. State Street Corp now owns 11,791,210 shares of the company’s stock valued at $465,166,000 after buying an additional 46,665 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Principal Financial Group by 15.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,228 shares of the company’s stock valued at $2,218,000 after buying an additional 7,436 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new position in Principal Financial Group during the first quarter valued at $1,692,000. Finally, Canada Pension Plan Investment Board boosted its position in Principal Financial Group by 22.7% in the first quarter. Canada Pension Plan Investment Board now owns 278,079 shares of the company’s stock valued at $10,970,000 after buying an additional 51,500 shares in the last quarter. 67.13% of the stock is owned by institutional investors.

Principal Financial Group Inc. (NYSE:PFG) traded up 0.82% during midday trading on Wednesday, hitting $52.93. The stock had a trading volume of 436,186 shares. The company has a 50-day moving average price of $49.76 and a 200-day moving average price of $44.73. Principal Financial Group Inc. has a 52 week low of $33.09 and a 52 week high of $53.11. The stock has a market cap of $15.22 billion, a P/E ratio of 12.58 and a beta of 1.66.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings results on Thursday, July 28th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.09. Principal Financial Group had a return on equity of 12.52% and a net margin of 10.20%. During the same quarter in the prior year, the company earned $1.09 earnings per share. Equities analysts expect that Principal Financial Group Inc. will post $4.37 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 2nd were issued a dividend of $0.41 per share. The ex-dividend date was Wednesday, August 31st. This represents a $1.64 annualized dividend and a yield of 3.12%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.39. Principal Financial Group’s dividend payout ratio is 38.86%.

Several equities analysts recently weighed in on PFG shares. Zacks Investment Research cut shares of Principal Financial Group from a “hold” rating to a “sell” rating in a research note on Monday, July 4th. Deutsche Bank AG decreased their target price on shares of Principal Financial Group from $46.00 to $43.00 and set a “hold” rating for the company in a research note on Thursday, July 7th. Stifel Nicolaus raised shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Sunday, July 31st. Evercore ISI started coverage on shares of Principal Financial Group in a research note on Wednesday, July 6th. They issued a “buy” rating and a $48.00 target price for the company. Finally, RBC Capital Markets set a $52.00 target price on shares of Principal Financial Group and gave the company a “buy” rating in a research note on Friday, August 19th. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $48.73.

In related news, EVP Timothy Mark Dunbar sold 5,000 shares of the company’s stock in a transaction on Wednesday, October 5th. The stock was sold at an average price of $52.00, for a total transaction of $260,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.78% of the company’s stock.

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 services. The Company’s segments include Retirement and Income Solutions; Principal Global Investors, Principal International, and U.S.

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