ProShare Advisors LLC Purchases Shares of Principal Financial Group, Inc. (NASDAQ:PFG)

Financial Advisors


ProShare Advisors LLC increased its position in Principal Financial Group, Inc. (NASDAQ: PFG – Get Rating) by 3.1% in the fourth quarter, according to its latest filings with the U.S. Securities and Exchange Commission (SEC). The fund owned his 44,710 shares of the company’s stock after purchasing an additional 1,335 shares during the quarter. The Principal Financial Group’s holdings of ProShare Advisors LLC were valued at $3,752,000 as of the latest SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares in the company. Vanguard Group Inc. increased his Principal Financial Group holdings by 0.5% in the first quarter. Vanguard Group Inc. now owns 29,028,108 shares of the company worth $2,130,953,000 after purchasing an additional 150,598 of his shares last quarter. Northern Trust Corporation increased its stake in Principal Financial Group by 1.1% in the first quarter. Northern Trust Corporation now owns 4,113,693 shares worth $31986,000 after acquiring an additional 43,319 shares during the previous quarter. Charles Schwab Investment Management Inc. increased his stake in Principal Financial Group by 6.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,054,133 shares worth $297,615,000 after acquiring an additional 251,562 of his shares during the previous quarter. Dimensional Fund Advisors LP increased its stake in Principal Financial Group by 1.3% in the third quarter. Dimensional Fund Advisors LP now owns 3,708,800 shares valued at $267,577,000 after acquiring an additional 47,675 shares during the previous quarter. Finally, Invesco Ltd. increased its stake in Principal Financial Group by 3.6% in the first quarter. Invesco Ltd. now owns 2,919,231 shares worth $214,302,000 after acquiring an additional 102,496 shares during the previous quarter. Currently 74.21% of the shares are owned by institutional investors and hedge funds.

Principal Financial Group trading down 1.1%

NASDAQ:PFG shares opened at $75.15 on Monday. His 52-week low is $61.05 and his 52-week high is $96.17 for Principal Financial Group. The company has a 50-day moving average of $73.61 and a 200-day moving average of $83.32. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt to equity ratio of 0.40. The company has a market capitalization of $18.26 billion, a PE ratio of 3.99, a P/E/G ratio of 1.34, and a beta of 1.27.

Principal Financial Group (NASDAQ: PFG – Get Rating) last released quarterly earnings data on Tuesday, January 31. The company reported EPS of $1.70 for the quarter, beating analyst consensus expectations of $1.54 by $0.16. Principal Financial Group posted a net profit margin of 27.51% and a return on equity of 15.98%. The company’s revenue for the quarter was $3.12 billion, compared to consensus expectations of $3.33 billion. His EPS for the company in the same period last year was $1.85. Equity analysts expect Principal Financial Group’s earnings per share to be 6.74 this year.

Principal Financial Group Announces Dividend

The company recently announced a quarterly dividend, which was paid out on Friday, March 31st. Record investors on Wednesday, March 15 were awarded a dividend of $0.64. This represents his $2.56 dividend and his 3.41% dividend yield on an annual basis. The ex-dividend date for this dividend was Tuesday, March 14. Principal Financial Group’s Dividend Payout Ratio (DPR) is 13.60%.

Analyst sets new price target

PFG has been the subject of several recent analyst reports. Morgan Stanley raised its stock price target for Principal Financial Group from $76.00 to her $77.00, giving it an “underweight” rating in its report on Friday, Feb. 24. Barclays lowered Principal Financial’s share price target for her group to her $75.00 from her $92.00 in a report on Wednesday, April 12. Goldman Sachs Group Inc. raised its target price on shares of Principal Financial Group to $71.00 from $61.00 and gave it a sell rating in its research notes on Monday, January 9. JPMorgan Chase & Co. raised its price target on Principal Financial Group stock from $78.00 to $83.00, giving it an “underweight” rating in its research notes on Tuesday, April 4. Finally, StockNews .com featured shares in Principal Financial Group in a research note on Thursday, March 16th. They put a “Hold” rating on the stock. Eight equity research analysts gave the stock a sell rating and five gave the stock a hold rating. According to MarketBeat.com, the company’s consensus rating is “Reduced” with a consensus price target of $77.55.

Insider activity at Principal Financial Group

In related news, SVP Kenneth A. Mccullum sold 3,694 shares in trading on Saturday, March 18th. The shares sold for an average of $69.50 for a total of $256,733.00. Following the transaction, the senior vice president now directly owns 29,244 shares of the Company’s stock valued at approximately $2,032,458. The transaction was disclosed in legal documents to the Securities and Exchange Commission, available at this link. The insider owns his 1.17% stake in the company.

Profiles of major financial groups

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Principal Financial Group, Inc. is in the business of providing investment management. We provide financial products and services to corporate, individual and institutional clients.It operates through the following segments: Retirement and Income Solutions, Principal Global Investor, Principal International, United States.

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Want to know which other hedge funds hold PFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trading from Principal Financial Group (NASDAQ: PFG – Get Rating).

Quarterly Institutional Ownership of Principal Financial Group (NASDAQ:PFG)

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