Tealwood Asset Management Inc. Increases Stock Holdings in Principal Financial Group Inc (NYSE:PFG)

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Tealwood Asset Management Inc. boosted its position in shares of Principal Financial Group Inc (NYSE:PFG) by 8.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,361 shares of the financial services provider’s stock after acquiring an additional 4,354 shares during the quarter. Principal Financial Group accounts for approximately 1.4% of Tealwood Asset Management Inc.’s investment portfolio, making the stock its 23rd biggest position. Tealwood Asset Management Inc.’s holdings in Principal Financial Group were worth $3,322,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Comerica Securities Inc. purchased a new position in Principal Financial Group during the fourth quarter valued at approximately $2,374,000. Dimensional Fund Advisors LP raised its position in shares of Principal Financial Group by 7.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,963,240 shares of the financial services provider’s stock valued at $175,047,000 after buying an additional 264,669 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Principal Financial Group by 15.3% during the fourth quarter. Geode Capital Management LLC now owns 4,149,598 shares of the financial services provider’s stock valued at $183,017,000 after buying an additional 550,835 shares during the last quarter. Bartlett & Co. LLC raised its position in shares of Principal Financial Group by 23.3% during the first quarter. Bartlett & Co. LLC now owns 1,791 shares of the financial services provider’s stock valued at $90,000 after buying an additional 339 shares during the last quarter. Finally, Advisor Partners LLC raised its position in shares of Principal Financial Group by 2.6% during the first quarter. Advisor Partners LLC now owns 10,443 shares of the financial services provider’s stock valued at $524,000 after buying an additional 261 shares during the last quarter. Institutional investors own 68.64% of the company’s stock.

PFG traded up $0.24 during trading hours on Thursday, hitting $53.98. The company’s stock had a trading volume of 305,141 shares, compared to its average volume of 1,496,436. The business’s 50-day moving average price is $57.08 and its 200-day moving average price is $54.37. Principal Financial Group Inc has a 12 month low of $40.42 and a 12 month high of $61.12.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.12. The business had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the prior year, the firm posted $1.35 EPS.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Thursday, September 5th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 4.08%. The ex-dividend date is Wednesday, September 4th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.54.

In other Principal Financial Group news, EVP Julia M. Lawler sold 1,000 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $51.50, for a total transaction of $51,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Luis E. Valdes sold 11,829 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $59.54, for a total transaction of $704,298.66. The disclosure for this sale can be found here. Insiders sold 62,490 shares of company stock worth $3,620,939 in the last 90 days. 1.50% of the stock is currently owned by company insiders.

Several research firms have recently issued reports on PFG. UBS Group reduced their price objective on shares of Principal Financial Group from $51.00 to $50.00 and set a “sell” rating on the stock in a research report on Tuesday, May 7th. Zacks Investment Research upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a research report on Tuesday, July 2nd. Barclays set a $66.00 price objective on shares of Principal Financial Group and gave the company a “buy” rating in a research report on Monday, August 12th. Royal Bank of Canada lifted their price objective on shares of Principal Financial Group to $55.00 and gave the company a “market perform” rating in a research report on Monday, April 29th. Finally, Morgan Stanley reduced their price objective on shares of Principal Financial Group from $59.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $57.29.

Principal Financial Group Company Profile

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.

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Institutional Ownership by Quarter for Principal Financial Group (NYSE:PFG)

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