Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lowered its stake in shares of Principal Financial Group Inc (NYSE:PFG) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,975 shares of the financial services provider’s stock after selling 25 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Principal Financial Group were worth $132,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Jacobi Capital Management LLC increased its position in shares of Principal Financial Group by 291.1% in the first quarter. Jacobi Capital Management LLC now owns 2,691 shares of the financial services provider’s stock valued at $167,000 after buying an additional 2,003 shares during the period. Oppenheimer & Co. Inc. purchased a new position in shares of Principal Financial Group during the first quarter valued at about $202,000. Blair William & Co. IL purchased a new position in shares of Principal Financial Group during the first quarter valued at about $205,000. Eagle Global Advisors LLC purchased a new position in shares of Principal Financial Group during the second quarter valued at about $207,000. Finally, Lowe Brockenbrough & Co. Inc. purchased a new position in shares of Principal Financial Group during the first quarter valued at about $211,000. 68.18% of the stock is owned by institutional investors.

Shares of Principal Financial Group Inc (PFG) opened at 62.66 on Wednesday. The company has a 50-day moving average of $65.44 and a 200 day moving average of $63.74. The firm has a market cap of $18.11 billion, a P/E ratio of 14.24 and a beta of 1.65. Principal Financial Group Inc has a 12-month low of $47.56 and a 12-month high of $67.73.

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

Principal Financial Group announced that its board has approved a share repurchase plan on Wednesday, May 17th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 1.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Wednesday, August 30th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.46. Principal Financial Group’s dividend payout ratio is presently 41.82%.

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PFG has been the subject of several analyst reports. Zacks Investment Research raised shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a report on Tuesday, August 1st. Royal Bank Of Canada reissued a “buy” rating and set a $73.00 price target on shares of Principal Financial Group in a report on Wednesday, July 12th. BidaskClub raised shares of Principal Financial Group from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Wells Fargo & Company reissued a “buy” rating on shares of Principal Financial Group in a report on Thursday, June 29th. Finally, Barclays PLC boosted their price target on shares of Principal Financial Group from $61.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, August 11th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $61.67.

In other Principal Financial Group news, insider James P. Mccaughan sold 60,817 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $66.98, for a total value of $4,073,522.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nora Mary Everett sold 8,700 shares of the company’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $63.52, for a total value of $552,624.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 345,538 shares of company stock valued at $22,435,450. Insiders own 1.50% of the company’s stock.

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.

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

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