Trading Report: The BlackRock Advisors LLC Increases Stake in Principal Financial Group Inc. (PFG)

The BlackRock Advisors LLC Increases Stake in Principal Financial Group Inc. (PFG)

BlackRock Advisors LLC boosted its stake in Principal Financial Group Inc. (NYSE:PFG) by 2.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 278,344 shares of the company’s stock after buying an additional 5,498 shares during the period. BlackRock Advisors LLC owned about 0.10% of Principal Financial Group worth $11,443,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Ngam Advisors L.P. purchased a new stake in Principal Financial Group during the first quarter valued at approximately $465,000. FDO Partners LLC purchased a new stake in Principal Financial Group during the first quarter valued at approximately $253,000. BlackRock Group LTD raised its stake in Principal Financial Group by 2.2% in the first quarter. BlackRock Group LTD now owns 2,202,240 shares of the company’s stock valued at $86,878,000 after buying an additional 47,210 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in Principal Financial Group by 3.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,368,413 shares of the company’s stock valued at $290,684,000 after buying an additional 227,460 shares during the period. Finally, BlackRock Japan Co. Ltd raised its stake in Principal Financial Group by 0.5% in the first quarter. BlackRock Japan Co. Ltd now owns 358,502 shares of the company’s stock valued at $14,143,000 after buying an additional 1,958 shares during the period. Institutional investors own 67.09% of the company’s stock.

Principal Financial Group Inc. (NYSE:PFG) opened at 52.26 on Friday. The firm has a market capitalization of $15.03 billion, a PE ratio of 12.43 and a beta of 1.66. The firm’s 50-day moving average price is $49.45 and its 200-day moving average price is $44.51. Principal Financial Group Inc. has a 1-year low of $33.09 and a 1-year high of $52.83.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings results on Thursday, July 28th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.09. Principal Financial Group had a net margin of 10.20% and a return on equity of 12.52%. During the same quarter in the prior year, the business posted $1.09 earnings per share. On average, equities research analysts predict that Principal Financial Group Inc. will post $4.37 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 2nd were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.14%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Wednesday, August 31st. Principal Financial Group’s dividend payout ratio (DPR) is presently 38.86%.

PFG has been the subject of several research reports. Bank of America Corp. lowered Principal Financial Group from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 29th. Zacks Investment Research lowered Principal Financial Group from a “hold” rating to a “sell” rating in a research report on Monday, July 4th. Evercore ISI started coverage on Principal Financial Group in a research report on Wednesday, July 6th. They issued a “buy” rating and a $48.00 price target for the company. Deutsche Bank AG dropped their price target on Principal Financial Group from $46.00 to $43.00 and set a “hold” rating for the company in a research report on Thursday, July 7th. Finally, Barclays PLC upped their price target on Principal Financial Group from $41.00 to $47.00 and gave the company an “equal weight” rating in a research report on Friday, July 29th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. Principal Financial Group currently has a consensus rating of “Hold” and a consensus target price of $48.43.

In other news, EVP Timothy Mark Dunbar sold 5,000 shares of Principal Financial Group stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $52.00, for a total transaction of $260,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.78% of the company’s stock.

About Principal Financial Group

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