Teachers Advisors LLC cut its stake in shares of Principal Financial Group Inc (NYSE:PFG) by 19.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,012,955 shares of the financial services provider’s stock after selling 239,682 shares during the period. Teachers Advisors LLC owned approximately 0.35% of Principal Financial Group worth $64,900,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PFG. Jacobi Capital Management LLC increased its position in shares of Principal Financial Group by 291.1% during the first quarter. Jacobi Capital Management LLC now owns 2,691 shares of the financial services provider’s stock valued at $167,000 after acquiring an additional 2,003 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Principal Financial Group during the first quarter valued at about $202,000. Blair William & Co. IL acquired a new stake in shares of Principal Financial Group during the first quarter valued at about $205,000. Eagle Global Advisors LLC acquired a new stake in shares of Principal Financial Group during the second quarter valued at about $207,000. Finally, Lowe Brockenbrough & Co. Inc. acquired a new stake in shares of Principal Financial Group during the first quarter valued at about $211,000. Institutional investors and hedge funds own 68.19% of the company’s stock.

In related news, insider James P. Mccaughan sold 6,193 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $62.33, for a total transaction of $386,009.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gary P. Scholten sold 13,495 shares of the stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $67.00, for a total transaction of $904,165.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 286,925 shares of company stock valued at $18,513,769. Corporate insiders own 1.50% of the company’s stock.

Several research analysts have recently commented on the stock. Royal Bank Of Canada reissued a “buy” rating and issued a $74.00 price objective on shares of Principal Financial Group in a research note on Wednesday, September 6th. Zacks Investment Research raised shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Tuesday, August 1st. BidaskClub raised shares of Principal Financial Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Wells Fargo & Company reissued a “buy” rating on shares of Principal Financial Group in a research note on Thursday, June 29th. Finally, Barclays PLC raised 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 note on Friday, August 11th. Four equities 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 stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $61.78.

Principal Financial Group Inc (PFG) opened at 62.07 on Friday. Principal Financial Group Inc has a 52 week low of $47.87 and a 52 week high of $67.73. The company has a 50-day moving average of $63.94 and a 200-day moving average of $63.76. The stock has a market cap of $17.94 billion, a P/E ratio of 14.11 and a beta of 1.66.

Principal Financial Group (NYSE:PFG) last posted its earnings results on Thursday, July 27th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.09. The firm had revenue of $3.27 billion during the quarter, compared to the consensus estimate 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 prior year, the company earned $1.15 EPS. On average, analysts predict that Principal Financial Group Inc will post $5.19 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date is Wednesday, August 30th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.46. Principal Financial Group’s dividend payout ratio is 42.73%.

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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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