Laurion Capital Management LP Purchases 79,600 Shares of Principal Financial Group Inc (PFG)

Laurion Capital Management LP lifted its position in Principal Financial Group Inc (NYSE:PFG) by 1,372.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,400 shares of the financial services provider’s stock after acquiring an additional 79,600 shares during the quarter. Laurion Capital Management LP’s holdings in Principal Financial Group were worth $5,472,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PFG. BlackRock Inc. raised its holdings in shares of Principal Financial Group by 2,276.3% in the first quarter. BlackRock Inc. now owns 17,714,618 shares of the financial services provider’s stock valued at $1,117,969,000 after acquiring an additional 16,969,140 shares in the last quarter. Janus Capital Management LLC raised its holdings in shares of Principal Financial Group by 399.3% in the first quarter. Janus Capital Management LLC now owns 2,379,858 shares of the financial services provider’s stock valued at $150,193,000 after acquiring an additional 1,903,190 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Principal Financial Group by 6.7% in the first quarter. Vanguard Group Inc. now owns 29,649,875 shares of the financial services provider’s stock valued at $1,871,204,000 after acquiring an additional 1,862,125 shares in the last quarter. Old Mutual Global Investors UK Ltd. raised its holdings in shares of Principal Financial Group by 306.0% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 577,254 shares of the financial services provider’s stock valued at $36,984,000 after acquiring an additional 435,064 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Principal Financial Group by 30.4% in the first quarter. PNC Financial Services Group Inc. now owns 1,499,968 shares of the financial services provider’s stock valued at $94,663,000 after acquiring an additional 349,372 shares in the last quarter. Hedge funds and other institutional investors own 68.19% of the company’s stock.

PFG has been the subject of several recent research reports. Royal Bank Of Canada restated a “buy” rating and issued a $74.00 price objective on shares of Principal Financial Group in a report on Wednesday, September 6th. Zacks Investment Research upgraded Principal Financial Group from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Tuesday, August 1st. BidaskClub upgraded Principal Financial Group from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Wells Fargo & Company restated a “buy” rating on shares of Principal Financial Group in a report on Thursday, June 29th. Finally, Barclays PLC lifted their price objective on Principal Financial Group from $61.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, August 11th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Principal Financial Group currently has a consensus rating of “Hold” and an average price target of $61.78.

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Shares of Principal Financial Group Inc (NYSE:PFG) traded up 0.81% during midday trading on Friday, hitting $62.51. The stock had a trading volume of 1,364,396 shares. The firm has a 50 day moving average price of $63.82 and a 200 day moving average price of $63.76. Principal Financial Group Inc has a one year low of $48.58 and a one year high of $67.73. The stock has a market cap of $18.06 billion, a PE ratio of 14.21 and a beta of 1.66.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.09. The firm had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Principal Financial Group had a return on equity of 13.57% and a net margin of 10.15%. During the same period in the previous year, the firm posted $1.15 earnings per share. On average, equities analysts forecast that Principal Financial Group Inc will post $5.19 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be issued a dividend of $0.47 per share. The ex-dividend date is Wednesday, August 30th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.46. This represents a $1.88 annualized dividend and a yield of 3.01%. Principal Financial Group’s payout ratio is currently 42.73%.

In related news, EVP Karen E. Shaff sold 30,500 shares of Principal Financial Group stock in a transaction on Monday, July 10th. The stock was sold at an average price of $65.00, for a total transaction of $1,982,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Gregory Bernard Elming sold 30,707 shares of Principal Financial Group stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $64.20, for a total value of $1,971,389.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 286,925 shares of company stock valued at $18,513,769. 1.50% of the stock is currently owned by insiders.

Principal Financial Group 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.

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

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