Pacer Advisors Inc. raised its position in Principal Financial Group Inc (NYSE:PFG) by 0.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,569 shares of the financial services provider’s stock after buying an additional 38 shares during the period. Pacer Advisors Inc.’s holdings in Principal Financial Group were worth $357,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in Principal Financial Group by 18.4% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 72,664 shares of the financial services provider’s stock valued at $4,656,000 after buying an additional 11,272 shares in the last quarter. Airain ltd acquired a new position in Principal Financial Group in the second quarter valued at about $963,000. Robeco Institutional Asset Management B.V. boosted its position in Principal Financial Group by 3.0% in the second quarter. Robeco Institutional Asset Management B.V. now owns 496,328 shares of the financial services provider’s stock valued at $31,798,000 after buying an additional 14,586 shares in the last quarter. Blue Chip Partners Inc. boosted its position in Principal Financial Group by 10.5% in the second quarter. Blue Chip Partners Inc. now owns 74,402 shares of the financial services provider’s stock valued at $4,767,000 after buying an additional 7,087 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in Principal Financial Group by 14.4% in the second quarter. Victory Capital Management Inc. now owns 106,459 shares of the financial services provider’s stock valued at $6,821,000 after buying an additional 13,389 shares in the last quarter. Hedge funds and other institutional investors own 68.19% of the company’s stock.

In other 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 value of $1,427,628.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider James P. Mccaughan sold 8,953 shares of Principal Financial Group stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $62.12, for a total transaction of $556,160.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 302,682 shares of company stock valued at $19,555,388. Company insiders own 1.50% of the company’s stock.

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Principal Financial Group Inc (PFG) opened at 61.88 on Tuesday. The firm has a 50 day moving average of $64.40 and a 200-day moving average of $63.80. The company has a market capitalization of $17.88 billion, a P/E ratio of 14.06 and a beta of 1.66. Principal Financial Group Inc has a 52 week low of $47.71 and a 52 week high of $67.73.

Principal Financial Group (NYSE:PFG) last posted its 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. Principal Financial Group had a net margin of 10.15% and a return on equity of 13.57%. The business had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same period last year, the company earned $1.15 EPS. On average, analysts forecast that Principal Financial Group Inc will post $5.18 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be issued a dividend of $0.47 per share. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.46. The ex-dividend date is Wednesday, August 30th. This represents a $1.88 annualized dividend and a yield of 3.04%. Principal Financial Group’s dividend payout ratio (DPR) is presently 42.73%.

Principal Financial Group declared that its board has initiated a share 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 repurchase 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.

A number of equities analysts have commented on PFG shares. 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 research report on Friday, August 11th. Wells Fargo & Company restated a “buy” rating on shares of Principal Financial Group in a research report on Thursday, June 29th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $68.00 price target on shares of Principal Financial Group in a research report on Thursday, August 3rd. BidaskClub lowered shares of Principal Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Finally, Zacks Investment Research upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Tuesday, August 1st. Four research 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 a consensus rating of “Hold” and an average target price of $61.78.

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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