Principal Financial Group Inc (PFG) Holdings Boosted by Quantbot Technologies LP

Quantbot Technologies LP boosted its holdings in shares of Principal Financial Group Inc (NYSE:PFG) by 44.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,817 shares of the financial services provider’s stock after buying an additional 5,137 shares during the quarter. Quantbot Technologies LP’s holdings in Principal Financial Group were worth $1,082,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Pacer Advisors Inc. grew its position in shares of Principal Financial Group by 0.7% in the second quarter. Pacer Advisors Inc. now owns 5,569 shares of the financial services provider’s stock valued at $357,000 after purchasing an additional 38 shares during the last quarter. Cookson Peirce & Co. Inc. grew its position in shares of Principal Financial Group by 0.8% in the second quarter. Cookson Peirce & Co. Inc. now owns 6,660 shares of the financial services provider’s stock valued at $427,000 after purchasing an additional 50 shares during the last quarter. Pitcairn Co. grew its position in shares of Principal Financial Group by 1.5% in the second quarter. Pitcairn Co. now owns 4,312 shares of the financial services provider’s stock valued at $276,000 after purchasing an additional 63 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Principal Financial Group by 0.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,914 shares of the financial services provider’s stock valued at $1,276,000 after purchasing an additional 82 shares during the last quarter. Finally, CIBC Asset Management Inc grew its position in shares of Principal Financial Group by 0.4% in the second quarter. CIBC Asset Management Inc now owns 25,495 shares of the financial services provider’s stock valued at $1,633,000 after purchasing an additional 93 shares during the last quarter. 68.13% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Principal Financial Group Inc (NYSE:PFG) traded up $0.18 during trading hours on Tuesday, reaching $68.82. The company had a trading volume of 616,900 shares, compared to its average volume of 1,112,305. The firm has a market capitalization of $19,880.00, a P/E ratio of 13.38, a P/E/G ratio of 1.32 and a beta of 1.71. Principal Financial Group Inc has a 1-year low of $56.12 and a 1-year high of $69.95. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.26.

Principal Financial Group (NYSE:PFG) last released its earnings results on Thursday, October 26th. The financial services provider reported $1.28 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.02). Principal Financial Group had a return on equity of 13.55% and a net margin of 12.35%. The business had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the previous year, the company earned $1.15 earnings per share. sell-side analysts predict that Principal Financial Group Inc will post 5.22 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Monday, December 4th will be paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, December 1st. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.47. This represents a $1.96 annualized dividend and a yield of 2.85%. Principal Financial Group’s dividend payout ratio is presently 30.82%.

In other Principal Financial Group news, Chairman Daniel Joseph Houston sold 38,097 shares of the company’s stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $68.00, for a total transaction of $2,590,596.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Karen E. Shaff sold 17,082 shares of the company’s stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $68.00, for a total value of $1,161,576.00. The disclosure for this sale can be found here. Insiders have sold 143,537 shares of company stock valued at $9,313,955 over the last 90 days. Corporate insiders own 1.50% of the company’s stock.

Several equities analysts have recently commented on PFG shares. Morgan Stanley upped their target price on Principal Financial Group from $67.00 to $72.00 and gave the company an “equal weight” rating in a research report on Thursday, October 5th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $74.00 target price on shares of Principal Financial Group in a research report on Wednesday, September 6th. Zacks Investment Research downgraded Principal Financial Group from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Wells Fargo & Company set a $76.00 target price on Principal Financial Group and gave the company a “buy” rating in a research report on Wednesday, October 18th. Finally, BidaskClub downgraded Principal Financial Group from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. Principal Financial Group has an average rating of “Hold” and an average price target of $67.40.

ILLEGAL ACTIVITY NOTICE: This story was reported by TrueBlueTribune and is the property of of TrueBlueTribune. If you are reading this story on another domain, it was illegally copied and republished in violation of US & international copyright laws. The original version of this story can be read at https://www.truebluetribune.com/2017/11/21/principal-financial-group-inc-pfg-holdings-boosted-by-quantbot-technologies-lp.html.

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.

Want to see what other hedge funds are holding PFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Principal Financial Group Inc (NYSE:PFG).

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

Receive News & Ratings for Principal Financial Group Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Principal Financial Group Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply