KBC Group NV Purchases 365,166 Shares of Principal Financial Group, Inc. $PFG

Key Points

• KBC Group NV boosted its stake in Principal Financial Group by 1,144.6% in Q4, buying 365,166 shares to own 397,070 shares worth about $35.0 million (0.18% of the company).
• Several large institutions also increased holdings — Bank of America owns 12.37 million shares (~$982.6M) and UBS, Invesco, Assenagon and AQR added sizeable stakes — leaving 75.08% of PFG held by institutional investors.
• PFG shares traded around $93.98 with a market cap of $20.36 billion and a P/E of 17.8; the company pays a quarterly dividend of $0.80 (annualized $3.20, ~3.4% yield) and analysts' consensus is a Hold with an average target of $93.44.

KBC Group NV boosted its position in Principal Financial Group, Inc. (NASDAQ:PFG - Free Report) by 1,144.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 397,070 shares of the company's stock after purchasing an additional 365,166 shares during the period. KBC Group NV owned 0.18% of Principal Financial Group worth $35,026,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Bank of America Corp DE increased its stake in shares of Principal Financial Group by 9.6% in 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 period. UBS Group AG boosted its position in Principal Financial Group by 62.3% during the 3rd quarter. UBS Group AG now owns 2,023,880 shares of the company's stock worth $167,800,000 after buying an additional 776,997 shares during the period. Assenagon Asset Management S.A. grew its holdings in Principal Financial Group by 1,048.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 697,735 shares of the company's stock worth $57,849,000 after acquiring an additional 637,001 shares during the last quarter. Invesco Ltd. grew its holdings in Principal Financial Group by 23.2% during the 3rd quarter. Invesco Ltd. now owns 3,376,797 shares of the company's stock worth $279,970,000 after acquiring an additional 636,334 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in 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 acquiring an additional 506,841 shares during the period. 75.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Principal Financial Group

In other news, CEO Deanna D. Strable-Soethout sold 9,300 shares of the business's stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $95.12, for a total value of $884,616.00. Following the transaction, the chief executive officer directly owned 144,168 shares of the company's stock, valued at $13,713,260.16. The trade was a 6.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders sold 24,665 shares of company stock valued at $2,324,710. Company insiders own 1.08% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on PFG. Morgan Stanley raised their price target on shares of Principal Financial Group from $93.00 to $95.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 3rd. Wells Fargo & Company reduced their price objective on shares of Principal Financial Group from $91.00 to $87.00 and set an "equal weight" rating on the stock in a research note on Friday, April 10th. Barclays lowered their target price on Principal Financial Group from $85.00 to $84.00 and set an "underweight" rating for the company in a research report on Wednesday, April 8th. UBS Group lifted their target price on Principal Financial Group from $92.00 to $94.00 and gave the stock a "neutral" rating in a report on Thursday, April 9th. Finally, Keefe, Bruyette & Woods reiterated a "hold" rating and issued a $92.00 price target on shares of Principal Financial Group in a research report on Thursday, March 26th. Two equities research 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's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $93.44.

Principal Financial Group Stock Down 0.7%

Shares of NASDAQ PFG opened at $93.98 on Friday. The company's 50 day moving average price is $91.28 and its 200-day moving average price is $88.14. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.27 and a current ratio of 0.27. Principal Financial Group, Inc. has a 52-week low of $69.80 and a 52-week high of $97.88. The company has a market capitalization of $20.36 billion, a P/E ratio of 17.83, a price-to-earnings-growth ratio of 0.86 and a beta of 0.87.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last announced its earnings results on Wednesday, February 18th. The company reported $2.20 earnings per share for the quarter. The business had revenue of $4.58 billion during the quarter. Principal Financial Group had a net margin of 7.58% and a return on equity of 16.09%.

Principal Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Wednesday, March 11th were given a $0.80 dividend. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a $3.20 annualized dividend and a dividend yield of 3.4%. Principal Financial Group's dividend payout ratio (DPR) is 60.72%.

Principal Financial Group Profile

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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