Principal Financial Group, Inc. $PFG Shares Sold by Tudor Investment Corp ET AL

Key Points

• Tudor Investment Corp ET AL cut its stake in Principal Financial Group by 97.1%, selling 190,206 shares in Q3 and now holds 5,583 shares worth about $463,000.
• Company insiders also trimmed positions—CEO Deanna D. Strable-Soethout sold 7,340 shares and insiders sold 24,965 shares in the quarter, leaving insiders with 1.08% ownership.
• Principal pays a quarterly dividend of $0.80 (annualized $3.20, 3.6% yield; 60.72% payout ratio); the stock trades at a P/E of 17.09 with a market cap of ~$19.5B and a consensus "Hold" target of $94.22.

Tudor Investment Corp ET AL lowered its stake in shares of Principal Financial Group, Inc. (NASDAQ:PFG - Free Report) by 97.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,583 shares of the company's stock after selling 190,206 shares during the quarter. Tudor Investment Corp ET AL's holdings in Principal Financial Group were worth $463,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital A Wealth Management LLC boosted its stake in Principal Financial Group by 5,533.3% during the 2nd quarter. Capital A Wealth Management LLC now owns 338 shares of the company's stock valued at $27,000 after acquiring an additional 332 shares during the last quarter. FWL Investment Management LLC bought a new stake in shares of Principal Financial Group in the 3rd quarter worth about $32,000. CYBER HORNET ETFs LLC acquired a new stake in shares of Principal Financial Group in the 2nd quarter valued at about $45,000. Financial Consulate Inc. acquired a new stake in shares of Principal Financial Group in the 3rd quarter valued at about $46,000. Finally, MUFG Securities EMEA plc bought a new position in shares of Principal Financial Group during the second quarter worth about $49,000. Institutional investors own 75.08% of the company's stock.

Principal Financial Group Stock Performance

Shares of NASDAQ PFG opened at $90.08 on Thursday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.33. The firm's 50-day moving average price is $91.65 and its two-hundred day moving average price is $87.36. Principal Financial Group, Inc. has a 52-week low of $68.39 and a 52-week high of $97.88. The stock has a market capitalization of $19.53 billion, a P/E ratio of 17.09, a P/E/G ratio of 0.83 and a beta of 0.87.

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

Principal Financial Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Wednesday, March 11th were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Wednesday, March 11th. Principal Financial Group's dividend payout ratio is presently 60.72%.

Insiders Place Their Bets

In other Principal Financial Group news, CEO Deanna D. Strable-Soethout sold 7,340 shares of the firm's stock in a transaction on Friday, January 30th. The stock was sold at an average price of $95.00, for a total value of $697,300.00. Following the sale, the chief executive officer directly owned 136,828 shares in the company, valued at approximately $12,998,660. This trade represents a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold 24,965 shares of company stock valued at $2,352,460 over the last quarter. 1.08% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Morgan Stanley lifted their price target on Principal Financial Group from $93.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 3rd. Weiss Ratings raised Principal Financial Group from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, December 29th. Piper Sandler lifted their target price on Principal Financial Group from $94.00 to $100.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 23rd. Barclays reiterated an "underweight" rating and issued a $85.00 price target on shares of Principal Financial Group in a report on Thursday, January 8th. Finally, Keefe, Bruyette & Woods reissued a "hold" rating and set a $92.00 price target on shares of Principal Financial Group in a research report on Thursday, March 26th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $94.22.

Principal Financial Group Company 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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