Global X Management Co. LLC increased its position in Principal Financial Group Inc (NYSE:PFG) by 5.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,632 shares of the financial services provider’s stock after buying an additional 241 shares during the period. Global X Management Co. LLC’s holdings in Principal Financial Group were worth $297,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Capital Management Corp VA increased its stake in Principal Financial Group by 24.0% in the first quarter. Capital Management Corp VA now owns 235,161 shares of the financial services provider’s stock worth $14,841,000 after buying an additional 45,501 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in Principal Financial Group by 43.5% in the first quarter. Janney Montgomery Scott LLC now owns 27,990 shares of the financial services provider’s stock worth $1,766,000 after buying an additional 8,489 shares during the last quarter. Glen Harbor Capital Management LLC increased its stake in Principal Financial Group by 125.9% in the first quarter. Glen Harbor Capital Management LLC now owns 118,580 shares of the financial services provider’s stock worth $7,484,000 after buying an additional 66,080 shares during the last quarter. ProShare Advisors LLC increased its stake in Principal Financial Group by 3.5% in the first quarter. ProShare Advisors LLC now owns 94,515 shares of the financial services provider’s stock worth $5,965,000 after buying an additional 3,162 shares during the last quarter. Finally, Foster & Motley Inc. increased its stake in Principal Financial Group by 1.3% in the first quarter. Foster & Motley Inc. now owns 3,674 shares of the financial services provider’s stock worth $232,000 after buying an additional 47 shares during the last quarter. Institutional investors own 70.10% of the company’s stock.

Principal Financial Group Inc (NYSE:PFG) opened at 62.93 on Monday. Principal Financial Group Inc has a 52 week low of $46.82 and a 52 week high of $67.73. The firm has a market cap of $18.18 billion, a price-to-earnings ratio of 14.30 and a beta of 1.65. The stock’s 50 day moving average is $65.66 and its 200 day moving average is $63.56.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.31 EPS for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.09. The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.16 billion. Principal Financial Group had a net margin of 10.15% and a return on equity of 13.57%. During the same quarter in the previous year, the firm posted $1.15 earnings per share. Equities research analysts expect that Principal Financial Group Inc will post $5.18 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Wednesday, August 30th. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.46. Principal Financial Group’s payout ratio is currently 41.82%.

Principal Financial Group announced that its Board of Directors has approved a share buyback program on Wednesday, May 17th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

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A number of research firms have issued reports on PFG. BidaskClub downgraded shares of Principal Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Zacks Investment Research upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Tuesday, August 1st. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $68.00 target price on shares of Principal Financial Group in a research report on Thursday, August 3rd. Royal Bank Of Canada reiterated a “buy” rating and issued a $73.00 target price on shares of Principal Financial Group in a research report on Wednesday, July 12th. Finally, Wells Fargo & Company reiterated a “buy” rating on shares of Principal Financial Group in a research report on Thursday, June 29th. Four analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $61.67.

In other news, insider James P. Mccaughan sold 60,817 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $66.98, for a total value of $4,073,522.66. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Nora Mary Everett sold 8,700 shares of the business’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $63.52, for a total transaction of $552,624.00. The disclosure for this sale can be found here. In the last three months, insiders sold 345,538 shares of company stock worth $22,435,450. 1.50% of the stock is currently owned by insiders.

Principal Financial Group Company Profile

Principal Financial Group, Inc is an investment management company. The Company offers a range of financial products and services, including retirement, asset management and insurance. Its segments include Retirement and Income Solutions; Principal Global Investors, Principal International; U.S. Insurance Solutions, and Corporate.

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

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