Montag A & Associates Inc. reduced its position in Principal Financial Group Inc (NYSE:PFG) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,945 shares of the financial services provider’s stock after selling 175 shares during the period. Montag A & Associates Inc.’s holdings in Principal Financial Group were worth $2,239,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of PFG. Macquarie Group Ltd. raised its position in Principal Financial Group by 2.1% in the fourth quarter. Macquarie Group Ltd. now owns 9,600 shares of the financial services provider’s stock worth $555,000 after buying an additional 200 shares during the last quarter. DnB Asset Management AS raised its position in Principal Financial Group by 17.6% in the first quarter. DnB Asset Management AS now owns 33,414 shares of the financial services provider’s stock worth $2,109,000 after buying an additional 5,000 shares during the last quarter. Retirement Systems of Alabama raised its position in Principal Financial Group by 1.9% in the first quarter. Retirement Systems of Alabama now owns 129,233 shares of the financial services provider’s stock worth $8,156,000 after buying an additional 2,426 shares during the last quarter. Candriam Luxembourg S.C.A. raised its position in Principal Financial Group by 17.4% in the first quarter. Candriam Luxembourg S.C.A. now owns 35,605 shares of the financial services provider’s stock worth $2,247,000 after buying an additional 5,289 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. raised its position in Principal Financial Group by 29.7% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 470,384 shares of the financial services provider’s stock worth $29,686,000 after buying an additional 107,650 shares during the last quarter. Institutional investors and hedge funds own 70.10% of the company’s stock.

Principal Financial Group Inc (NYSE PFG) opened at 62.73 on Tuesday. The company has a market cap of $18.13 billion, a price-to-earnings ratio of 14.26 and a beta of 1.65. Principal Financial Group Inc has a 52-week low of $47.50 and a 52-week high of $67.73. The firm’s 50-day moving average is $65.62 and its 200 day moving average is $63.69.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.22 by $0.09. The company had revenue of $3.27 billion during 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 earned $1.15 EPS. On average, equities research analysts predict that Principal Financial Group Inc will post $5.18 EPS for the current fiscal year.

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

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.00%. The ex-dividend date 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 presently 41.82%.

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A number of brokerages recently weighed in on PFG. Zacks Investment Research lowered shares of Principal Financial Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Wells Fargo & Company restated a “buy” rating on shares of Principal Financial Group in a research report on Thursday, June 29th. BidaskClub upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Royal Bank Of Canada restated a “buy” rating and set a $73.00 target price on shares of Principal Financial Group in a research report on Wednesday, July 12th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $68.00 target price on shares of Principal Financial Group in a research report on Thursday, August 3rd. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. Principal Financial Group currently has an average rating of “Hold” and an average target price of $61.67.

In other Principal Financial Group news, EVP Gary P. Scholten sold 21,950 shares of Principal Financial Group stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $65.04, for a total transaction of $1,427,628.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Nora Mary Everett sold 8,700 shares of Principal Financial Group 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 valued at $22,435,450. 1.50% of the stock is owned by insiders.

About Principal Financial Group

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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