Bank of Montreal Can hold $11.07M stake in Principal Financial Group, Inc. (NASDAQ: PFG)

As HoldingsChannel.com reports, in the second quarter Bank of Montreal acquired Principal Financial Group, Inc. (NASDAQ:PFG – Get Rating) to 3.4%. The firm held 161,573 shares of the company’s stock after selling 5,738 shares during the period. Bank of Montreal Can’s holdings in Principal Financial Group was $11,066,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. During the first quarter, Vanguard Group Inc. raised its stake in Principal Financial Group by 0.5%. Vanguard Group Inc. of 29,028,108 shares of the company’s stock valued at $2,130,953,000 after acquiring an additional 150,598 shares during the period. Blackrock Inc. raised its stake in Principal Financial Group by 3.4% during the first quarter. After receiving an additional 756,508 shares during this period, BlackRock Inc. now owns 23,253,147 shares of the company’s stock valued at $1,707,017,000. Bank of America Corp DE raised its stake in Principal Financial Group to 26.3% during the first quarter. Bank of America Corp DE holds 14,006,960 shares of the company valued at $1,028,251,000 after acquiring an additional 2,916,493 shares during the period. Northern Trust Corp raised its stake in Principal Financial Group by 1.1% during the first quarter. Northern Trust Corp holds 4,113,693 shares of the company valued at $301,986,000 after acquiring an additional 43,319 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Principal Financial Group by 6.6% during the first quarter. After acquiring an additional 251,562 shares during the period, Charles Schwab Investment Management Inc. holds 4,054,133 shares of the company valued at $297,615,000. 75.12% of the stock is currently held by institutional investors and hedge funds.

Analyst Rating Changes

Several analysts have commented on the company recently. Evercore ISI downgraded Principal Financial Group from “in-line” rating to “underperform” rating and raised its target price for the company from $75.00 to $81.00 in a research note on Thursday, November 17. Jefferies Financial Group raised its target price on Principal Financial Group from $56.00 to $60.00 and gave the company an “underperform” rating in a research note on Thursday, September 8. Barclays lowered Principal Financial Group to an “equal weight” rating from “overweight” rating and raised its target price for the company from $81.00 to $89.00 in a research note on Tuesday, November 1. Credit Suisse Group cut shares of Principal Financial Group to “neutral” rating from “outperform” rating and raised its price target for the company from $82.00 to $86.00 in a research report on Thursday, August 18. Finally, Morgan Stanley lowered shares of Principal Financial Group to an “underweight” rating from an “equal weight” rating and raised its price target for the stock from $76.00 to $79.00 in a research note on Thursday, November 17. Seven equity research analysts have a rating on the stock with a Sell rating and seven have a Hold rating on the company’s stock. According to Marketbeat data, Principal Financial Group has an average rating of “Hold” and a consensus target price of $77.50.

insiders place their bets

Want more great investment ideas?

In other news from Principal Financial Group, Director Sandra L. Helton sold 14,033 shares of the stock in a transaction that occurred on Tuesday, Oct 18. Shares were sold at an average price of $80.05, for a total value of $1,123,341.65. Following the transaction, the director now directly owns 18,245 shares in the company, valued at $1,460,512.25. The transaction was disclosed in a legal filing with the Securities and Exchange Commission, which can be accessed via this hyperlink. In other news, director Sandra L. Helton sold 14,033 shares of the stock in one transaction on Tuesday, Oct 18. Shares were sold at an average price of $80.05, for a total value of $1,123,341.65. Following completion of the sale, the Director now directly owns 18,245 shares of Company stock valued at $1,460,512.25. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Additionally, EVP Wei Yi Cheong sold 2,447 shares of the stock in a transaction on Tuesday, Sep 13. The stock was sold at an average price of $78.45, for a total transaction of $191,967.15. Following the completion of the sale, the executive vice president now directly owns 34,700 shares of company stock valued at $2,722,215. Disclosure of this sale can be found here. Insiders hold 1.17% of the company’s stock.

Prime Financial Group stock up 0.1%

PFG opened Thursday at $91.78. The company has a current ratio of 0.37, quick ratio of 0.37 and debt-to-equity ratio of 0.42. Principal Financial Group, Inc. The 1-Year Low is $61.05 and the 1-Year High is $96.17. The company has a market capitalization of $22.46 billion, PE ratio of 4.45, PEG ratio of 2.59 and Beta of 1.29. The firm’s 50-day simple moving average is $83.30 and its 200-day simple moving average is $75.04.

Prime Financial Group declares dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 19. A $0.64 dividend will be paid to shareholders of record on Thursday, December 1. The ex-dividend date for this dividend is Wednesday, November 30. This represents a $2.56 annual dividend and a yield of 2.79%. The payout ratio of Prime Financial Group currently stands at 12.41%.

Prime Financial Group Profile

(get rating)

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

Featured Stories

Want to see which other hedge funds are holding PFG? Principal Financial Group, Inc. Visit HoldingsChannel.com to get the latest 13F filings and insider trades. (NASDAQ:PFG – Gate Rating).

Institutional Ownership by Quarter for Prime Financial Group (NASDAQ:PFG)

Receive news and ratings for Prime Financial Group daily – Enter your email address below to receive a concise daily summary of the latest news and analyst ratings for Prime Financial Group and related companies with MarketBeat.com’s FREE daily email newsletter.

Leave a Comment

Your email address will not be published.

Then We Knew It Was on..” – Roman Reigns Shark Tank Keto Gummies Scam Alert? McDonald’s Halloween Buckets Could Be Back How to Watch Spacecraft Collide With Deep Space Asteroid Grand Theft Auto VI footage leaked after the hack Floyd Mayweather Jr boxer knocks out Mikuru Asakura martial artist