Wealthfront Advisers LLC raised its position in shares of Principal Financial Group Inc (NYSE:PFG) by 39.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,567 shares of the financial services provider’s stock after purchasing an additional 9,421 shares during the period. Wealthfront Advisers LLC’s holdings in Principal Financial Group were worth $1,685,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FTB Advisors Inc. boosted its stake in Principal Financial Group by 377.3% during the first quarter. FTB Advisors Inc. now owns 525 shares of the financial services provider’s stock valued at $26,000 after buying an additional 415 shares during the period. NuWave Investment Management LLC raised its position in Principal Financial Group by 464.4% during the first quarter. NuWave Investment Management LLC now owns 570 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 469 shares in the last quarter. Transamerica Financial Advisors Inc. raised its position in Principal Financial Group by 644.9% during the fourth quarter. Transamerica Financial Advisors Inc. now owns 797 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 690 shares in the last quarter. Pittenger & Anderson Inc. purchased a new stake in Principal Financial Group during the first quarter valued at about $40,000. Finally, Tompkins Financial Corp purchased a new stake in Principal Financial Group during the first quarter valued at about $42,000. 68.64% of the stock is owned by institutional investors and hedge funds.
Principal Financial Group stock traded down $0.19 during trading hours on Wednesday, hitting $54.59. 44,995 shares of the stock traded hands, compared to its average volume of 1,615,437. Principal Financial Group Inc has a one year low of $40.42 and a one year high of $61.12.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be given a dividend of $0.54 per share. The ex-dividend date is Friday, May 31st. This represents a $2.16 annualized dividend and a yield of 3.96%.
A number of research firms have weighed in on PFG. Royal Bank of Canada raised their price target on Principal Financial Group to $55.00 and gave the company a “market perform” rating in a research report on Monday, April 29th. UBS Group decreased their price objective on Principal Financial Group from $51.00 to $50.00 and set a “sell” rating on the stock in a report on Tuesday, May 7th. Finally, Zacks Investment Research upgraded Principal Financial Group from a “sell” rating to a “hold” rating and set a $59.00 price objective on the stock in a report on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $57.50.
In other Principal Financial Group news, EVP Julia M. Lawler sold 1,000 shares of Principal Financial Group stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $57.25, for a total transaction of $57,250.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have sold 3,000 shares of company stock worth $159,490. Insiders own 1.50% of the company’s stock.
Principal Financial Group Profile
Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.
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