AlphaQuest LLC Has $2.69 Million Stock Position in Principal Financial Group, Inc. $PFG

Key Points

• AlphaQuest LLC increased its stake in Principal Financial Group by 212.9% in the fourth quarter, ending with 30,437 shares valued at about $2.69 million.
• Principal Financial Group reported Q1 earnings of $2.07 per share, beating estimates, though revenue of $3.53 billion came in below expectations. The company also posted solid profitability metrics, including a 10.10% net margin and 16.25% return on equity.
• The company raised its quarterly dividend to $0.82 per share, or $3.28 annually, for a yield of about 3.1%. Meanwhile, analysts currently have an average rating of Hold with a price target of $98.10.

AlphaQuest LLC lifted its position in Principal Financial Group, Inc. (NASDAQ:PFG - Free Report) by 212.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,437 shares of the company's stock after buying an additional 20,709 shares during the quarter. AlphaQuest LLC's holdings in Principal Financial Group were worth $2,685,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank of America Corp DE raised its position in shares of Principal Financial Group by 9.6% during the second quarter. Bank of America Corp DE now owns 12,370,852 shares of the company's stock valued at $982,617,000 after buying an additional 1,083,991 shares during the last quarter. UBS Group AG raised its stake in shares of Principal Financial Group by 62.3% in the 3rd quarter. UBS Group AG now owns 2,023,880 shares of the company's stock valued at $167,800,000 after buying an additional 776,997 shares in the last quarter. Invesco Ltd. raised its stake in shares of Principal Financial Group by 23.2% in the 3rd quarter. Invesco Ltd. now owns 3,376,797 shares of the company's stock valued at $279,970,000 after buying an additional 636,334 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Principal Financial Group by 84.9% in the 3rd quarter. AQR Capital Management LLC now owns 1,103,565 shares of the company's stock valued at $90,856,000 after buying an additional 506,841 shares in the last quarter. Finally, Man Group plc raised its stake in shares of Principal Financial Group by 199.1% in the 3rd quarter. Man Group plc now owns 637,358 shares of the company's stock valued at $52,843,000 after buying an additional 424,231 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Principal Financial Group

In other news, General Counsel George Djurasovic sold 2,571 shares of Principal Financial Group stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $100.83, for a total transaction of $259,233.93. Following the completion of the sale, the general counsel owned 21,906 shares in the company, valued at $2,208,781.98. The trade was a 10.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Wee Yee Cheong sold 7,534 shares of Principal Financial Group stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $103.16, for a total transaction of $777,207.44. Following the sale, the insider owned 66,443 shares of the company's stock, valued at approximately $6,854,259.88. This represents a 10.18% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 28,317 shares of company stock valued at $2,884,902. 1.13% of the stock is owned by corporate insiders.

Principal Financial Group Trading Up 0.8%

PFG opened at $104.71 on Wednesday. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $22.62 billion, a PE ratio of 14.98, a PEG ratio of 0.98 and a beta of 0.89. Principal Financial Group, Inc. has a 1-year low of $75.00 and a 1-year high of $104.95. The firm has a 50-day moving average price of $95.34 and a two-hundred day moving average price of $91.70.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.06. The firm had revenue of $3.53 billion during the quarter, compared to analysts' expectations of $4.11 billion. Principal Financial Group had a net margin of 10.10% and a return on equity of 16.25%. During the same quarter last year, the company posted $1.81 EPS. As a group, equities analysts anticipate that Principal Financial Group, Inc. will post 9.36 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Monday, June 1st will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 3.1%. The ex-dividend date is Monday, June 1st. This is a boost from Principal Financial Group's previous quarterly dividend of $0.80. Principal Financial Group's dividend payout ratio is 45.78%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PFG shares. UBS Group increased their price objective on shares of Principal Financial Group from $92.00 to $94.00 and gave the company a "neutral" rating in a research note on Thursday, April 9th. Weiss Ratings cut shares of Principal Financial Group from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, May 1st. Keefe, Bruyette & Woods restated a "hold" rating and issued a $92.00 price objective on shares of Principal Financial Group in a research note on Thursday, March 26th. Wells Fargo & Company dropped their target price on shares of Principal Financial Group from $91.00 to $87.00 and set an "equal weight" rating for the company in a research report on Friday, April 10th. Finally, Barclays increased their target price on shares of Principal Financial Group from $85.00 to $87.00 and gave the stock an "underweight" rating in a research report on Friday, April 24th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $98.10.

About Principal Financial Group

Principal Financial Group NASDAQ: PFG is a global financial services company headquartered in Des Moines, Iowa, that provides a range of retirement, investment and insurance solutions to individuals, employers and institutional clients. The firm's business is organized around retirement services, asset management, and insurance products designed to help clients plan, invest for, and protect income over the long term.

Principal's product and service offerings include retirement plan recordkeeping and administration for employer-sponsored plans, individual and group retirement annuities, life and disability insurance, employee benefits solutions, and wealth management services.

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