Argent Capital Management buys $19,564,279 stake in Principal Financial Group Inc (PFG)

Principal Financial Group Inc (PFG) : Argent Capital Management scooped up 1,726 additional shares in Principal Financial Group Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 8, 2016. The investment management firm now holds a total of 414,849 shares of Principal Financial Group Inc which is valued at $19,564,279.Principal Financial Group Inc makes up approximately 0.83% of Argent Capital Management’s portfolio.

Other Hedge Funds, Including , Twin Capital Management Inc added PFG to its portfolio by purchasing 55,850 company shares during the most recent quarter which is valued at $2,633,886. Principal Financial Group Inc makes up approx 0.19% of Twin Capital Management Inc’s portfolio.Eads Heald Investment Counsel reduced its stake in PFG by selling 445 shares or 5.96% in the most recent quarter. The Hedge Fund company now holds 7,020 shares of PFG which is valued at $327,343. Principal Financial Group Inc makes up approx 0.22% of Eads Heald Investment Counsel’s portfolio. High Point Bank Trust Co added PFG to its portfolio by purchasing 1,324 company shares during the most recent quarter which is valued at $59,130. Principal Financial Group Inc makes up approx 0.02% of High Point Bank Trust Co’s portfolio.

Principal Financial Group Inc opened for trading at $47.08 and hit $47.245 on the upside on Monday, eventually ending the session at $47.11, with a gain of 0.71% or 0.33 points. The heightened volatility saw the trading volume jump to 10,89,231 shares. Company has a market cap of $13,549 M.

On the company’s financial health, Principal Financial Group Inc reported $1.15 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $1.05.Analysts expectations of $ 2919.27.During the same quarter in the previous year, the company posted $1.09 EPS.

Investors should note that on Jul 28, 2016, Principal Financial Group Inc announced a cash dividend of $0.4100. The company’s management has announced Aug 31, 2016 as the ex-dividend date and fixed the record date on Sep 2, 2016. The payable date has been fixed on Sep 30, 2016.

Many Wall Street Analysts have commented on Principal Financial Group Inc. Company shares were Reiterated by Barclays on Jul 29, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 47 from a previous price target of $41 .Principal Financial Group Inc was Downgraded by BofA/Merrill to ” Neutral” on Jun 29, 2016.

Principal Financial Group Inc. is an investment management company. The Company offers businesses individuals and institutional clients a range of financial products and services including retirement asset management and insurance through its financial services companies. Its segments include Retirement and Investor Services Principal Global Investors Principal International and U.S. Insurance Solutions. Its Retirement and Investor Services segment provides retirement and related financial products and services primarily to businesses their employees and other individuals. The Principal Global Investors segment provides asset management services.. The Principal International segment offers pension accumulation products and services mutual funds asset management income annuities and life insurance accumulation products. The U.S. Insurance Solutions segment offers individual and group insurance solutions.

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