UBS Group AG Trims Stake in Principal Financial Group, Inc. $PFG

Key Points

• UBS Group AG cut its stake in Principal Financial Group by 52.6% in Q4, selling 1,064,538 shares and now holds 959,342 shares (about 0.43% of the company, ~$84.6M).
• Principal raised its quarterly dividend to $0.82 (annualized $3.28) for a ~3.2% yield; the ex-dividend date is June 1 and the payment is scheduled for June 26.
• Quarterly results were mixed: Q1 EPS beat at $2.07 vs. $2.01 expected, but revenue missed at $3.53B vs. $4.11B, and analysts' consensus remains a "Hold" with an average $95.33 price target.

UBS Group AG lowered its stake in Principal Financial Group, Inc. (NASDAQ:PFG - Free Report) by 52.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 959,342 shares of the company's stock after selling 1,064,538 shares during the quarter. UBS Group AG owned approximately 0.43% of Principal Financial Group worth $84,624,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PFG. Integrated Wealth Concepts LLC purchased a new stake in Principal Financial Group in the 1st quarter valued at approximately $244,000. NewEdge Advisors LLC lifted its stake in Principal Financial Group by 24.1% in the 1st quarter. NewEdge Advisors LLC now owns 7,503 shares of the company's stock valued at $633,000 after buying an additional 1,455 shares in the last quarter. Empowered Funds LLC lifted its stake in Principal Financial Group by 11.9% in the 1st quarter. Empowered Funds LLC now owns 4,678 shares of the company's stock valued at $395,000 after buying an additional 497 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Principal Financial Group by 96.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,278 shares of the company's stock valued at $181,000 after buying an additional 1,117 shares in the last quarter. Finally, Cerity Partners LLC lifted its stake in Principal Financial Group by 9.1% in the 2nd quarter. Cerity Partners LLC now owns 37,957 shares of the company's stock valued at $3,015,000 after buying an additional 3,175 shares in the last quarter. Hedge funds and other institutional investors own 75.08% of the company's stock.

Principal Financial Group Price Performance

Shares of NASDAQ PFG opened at $101.09 on Monday. Principal Financial Group, Inc. has a 12-month low of $74.83 and a 12-month high of $101.90. The company has a market cap of $21.84 billion, a P/E ratio of 14.46, a P/E/G ratio of 0.96 and a beta of 0.89. 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 fifty day moving average price of $92.37 and a 200 day moving average price of $89.33.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.06. Principal Financial Group had a return on equity of 16.25% and a net margin of 10.10%.The firm had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $4.11 billion. During the same period in the prior year, the firm earned $1.81 EPS. Research analysts anticipate that Principal Financial Group, Inc. will post 9.31 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Monday, June 1st will be issued a $0.82 dividend. The ex-dividend date is Monday, June 1st. This represents a $3.28 annualized dividend and a yield of 3.2%. This is an increase from Principal Financial Group's previous quarterly dividend of $0.80. Principal Financial Group's payout ratio is currently 45.78%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Barclays upped their target price on Principal Financial Group from $85.00 to $87.00 and gave the company an "underweight" rating in a research note on Friday, April 24th. Weiss Ratings downgraded Principal Financial Group from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday. Keefe, Bruyette & Woods reiterated a "hold" rating and issued a $92.00 price target on shares of Principal Financial Group in a report on Thursday, March 26th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $103.00 price target on shares of Principal Financial Group in a report on Monday, January 5th. Finally, Bank of America cut their price target on Principal Financial Group from $96.00 to $92.00 and set a "neutral" rating for the company in a report on Tuesday, April 14th. Two 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's stock. Based on data from MarketBeat.com, Principal Financial Group currently has an average rating of "Hold" and an average price target of $95.33.

Insider Buying and Selling at Principal Financial Group

In related news, insider Wee Yee Cheong sold 1,080 shares of the stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $101.00, for a total value of $109,080.00. Following the completion of the sale, the insider directly owned 91,108 shares in the company, valued at approximately $9,201,908. This represents a 1.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel George Djurasovic sold 2,571 shares of the stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $100.83, for a total value of $259,233.93. Following the completion of the sale, the general counsel owned 21,906 shares of the company's stock, valued at approximately $2,208,781.98. This represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 3,652 shares of company stock valued at $368,414. 1.13% of the stock is owned by insiders.

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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