Aviva PLC decreased its position in shares of Principal Financial Group Inc (NYSE:PFG) by 1.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 175,577 shares of the financial services provider’s stock after selling 2,960 shares during the period. Aviva PLC owned about 0.06% of Principal Financial Group worth $11,249,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. BlackRock Inc. increased its stake in shares of Principal Financial Group by 2,276.3% in the first quarter. BlackRock Inc. now owns 17,714,618 shares of the financial services provider’s stock worth $1,117,969,000 after buying an additional 16,969,140 shares during the last quarter. Janus Capital Management LLC increased its stake in shares of Principal Financial Group by 399.3% in the first quarter. Janus Capital Management LLC now owns 2,379,858 shares of the financial services provider’s stock worth $150,193,000 after buying an additional 1,903,190 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Principal Financial Group by 6.7% in the first quarter. Vanguard Group Inc. now owns 29,649,875 shares of the financial services provider’s stock worth $1,871,204,000 after buying an additional 1,862,125 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Principal Financial Group by 745.9% in the first quarter. BNP Paribas Arbitrage SA now owns 401,219 shares of the financial services provider’s stock worth $25,321,000 after buying an additional 353,787 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Principal Financial Group by 30.4% in the first quarter. PNC Financial Services Group Inc. now owns 1,499,968 shares of the financial services provider’s stock worth $94,663,000 after buying an additional 349,372 shares during the last quarter. 70.10% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Inc (NYSE PFG) opened at 63.33 on Friday. The company has a 50-day moving average of $65.44 and a 200 day moving average of $63.74. The company has a market cap of $18.30 billion, a P/E ratio of 14.39 and a beta of 1.65. Principal Financial Group Inc has a one year low of $47.56 and a one year high of $67.73.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.31 EPS for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.09. The firm had revenue of $3.27 billion for the quarter, compared to analysts’ expectations 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 period in the prior year, the company earned $1.15 EPS. Analysts anticipate that Principal Financial Group Inc will post $5.18 earnings per share for the current year.

Principal Financial Group announced that its board has initiated a stock buyback program on Wednesday, May 17th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 1.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.97%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Wednesday, August 30th. Principal Financial Group’s dividend payout ratio is presently 41.82%.

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PFG has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Principal Financial Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Royal Bank Of Canada reissued a “buy” rating and set a $73.00 price objective on shares of Principal Financial Group in a research report on Wednesday, July 12th. BidaskClub downgraded shares of Principal Financial Group from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. Wells Fargo & Company reissued a “buy” rating on shares of Principal Financial Group in a research report on Thursday, June 29th. Finally, Barclays PLC boosted their price objective on shares of Principal Financial Group from $61.00 to $63.00 and gave the company an “equal weight” rating in a research report on Friday, August 11th. Four research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $61.67.

In other Principal Financial Group news, EVP Gary P. Scholten sold 13,495 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $67.00, for a total transaction of $904,165.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nora Mary Everett sold 8,700 shares of the firm’s stock in a transaction dated 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. Over the last three months, insiders sold 345,538 shares of company stock worth $22,435,450. 1.50% of the stock is owned by corporate 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.

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

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