Zurcher Kantonalbank Zurich Cantonalbank Has $24.78 Million Stock Holdings in Principal Financial Group, Inc. $PFG

Key Points

• Zurcher Kantonalbank increased its stake in Principal Financial Group by 10.2% in Q4, purchasing 26,021 shares to hold 280,919 shares worth about $24.78 million (≈0.13% of the company).
• CEO Deanna D. Strable-Soethout sold 7,340 shares on Jan. 30 (about $697,300), and insiders have sold a total of 24,665 shares (~$2.32 million) in the past three months; insiders now own 1.08% of the stock.
• Principal declared a quarterly dividend of $0.80 (annualized $3.20), implying a 3.3% yield and a dividend payout ratio of 60.72%.

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Principal Financial Group, Inc. (NASDAQ:PFG - Free Report) by 10.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 280,919 shares of the company's stock after purchasing an additional 26,021 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.13% of Principal Financial Group worth $24,780,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Aptus Capital Advisors LLC raised its position in Principal Financial Group by 3.5% in the third quarter. Aptus Capital Advisors LLC now owns 3,444 shares of the company's stock worth $286,000 after purchasing an additional 118 shares in the last quarter. Hazlett Burt & Watson Inc. raised its position in Principal Financial Group by 22.3% in the third quarter. Hazlett Burt & Watson Inc. now owns 713 shares of the company's stock worth $59,000 after purchasing an additional 130 shares in the last quarter. Kestra Private Wealth Services LLC raised its position in Principal Financial Group by 1.0% in the third quarter. Kestra Private Wealth Services LLC now owns 13,800 shares of the company's stock worth $1,144,000 after purchasing an additional 137 shares in the last quarter. Clearstead Advisors LLC raised its position in Principal Financial Group by 18.3% in the third quarter. Clearstead Advisors LLC now owns 907 shares of the company's stock worth $75,000 after purchasing an additional 140 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Principal Financial Group by 6.6% in the third quarter. EverSource Wealth Advisors LLC now owns 2,429 shares of the company's stock worth $201,000 after purchasing an additional 151 shares in the last quarter. Institutional investors and hedge funds own 75.08% of the company's stock.

Insider Buying and Selling at Principal Financial Group

In related news, CEO Deanna D. Strable-Soethout sold 7,340 shares of the firm's stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $95.00, for a total value of $697,300.00. Following the completion of the sale, the chief executive officer owned 136,828 shares of the company's stock, valued at $12,998,660. This trade represents a 5.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 24,665 shares of company stock valued at $2,324,710 over the last three months. Company insiders own 1.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PFG. Morgan Stanley increased their price target on shares of Principal Financial Group from $93.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 3rd. UBS Group raised their price objective on shares of Principal Financial Group from $92.00 to $94.00 and gave the stock a "neutral" rating in a report on Thursday, April 9th. Weiss Ratings raised shares of Principal Financial Group from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, December 29th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $103.00 price objective on shares of Principal Financial Group in a report on Monday, January 5th. Finally, Keefe, Bruyette & Woods reaffirmed a "hold" rating and set a $92.00 price objective on shares of Principal Financial Group in a 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 assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $93.44.

Principal Financial Group Stock Performance

Shares of Principal Financial Group stock opened at $95.73 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.27 and a quick ratio of 0.27. The firm has a market cap of $20.74 billion, a P/E ratio of 18.17, a P/E/G ratio of 0.88 and a beta of 0.87. The firm has a 50 day simple moving average of $91.30 and a 200 day simple moving average of $88.47. Principal Financial Group, Inc. has a fifty-two week low of $71.33 and a fifty-two week high of $97.88.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last issued its quarterly 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%. Sell-side analysts predict that Principal Financial Group, Inc. will post 9.41 earnings per share for the current fiscal year.

Principal Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Wednesday, March 11th were issued a $0.80 dividend. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.3%. Principal Financial Group's dividend payout ratio (DPR) is currently 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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