ProShare Advisors LLC boosted its holdings in Principal Financial Group Inc (NYSE:PFG) by 0.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,809 shares of the financial services provider’s stock after purchasing an additional 294 shares during the quarter. ProShare Advisors LLC’s holdings in Principal Financial Group were worth $6,074,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Swiss National Bank raised its position in Principal Financial Group by 3.0% in the 2nd quarter. Swiss National Bank now owns 1,050,263 shares of the financial services provider’s stock valued at $67,290,000 after purchasing an additional 30,900 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in Principal Financial Group in the 2nd quarter valued at $2,210,000. Chicago Equity Partners LLC purchased a new stake in Principal Financial Group in the 2nd quarter valued at $2,880,000. State of Tennessee Treasury Department raised its position in Principal Financial Group by 25.7% in the 2nd quarter. State of Tennessee Treasury Department now owns 129,360 shares of the financial services provider’s stock valued at $8,288,000 after purchasing an additional 26,432 shares during the last quarter. Finally, Mason Street Advisors LLC raised its position in Principal Financial Group by 0.9% in the 1st quarter. Mason Street Advisors LLC now owns 36,946 shares of the financial services provider’s stock valued at $2,332,000 after purchasing an additional 347 shares during the last quarter. Hedge funds and other institutional investors own 68.20% of the company’s stock.

Several analysts recently commented on PFG shares. Royal Bank Of Canada reiterated a “buy” rating and issued a $74.00 price target on shares of Principal Financial Group in a research report on Wednesday, September 6th. Zacks Investment Research upgraded 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 research report on Tuesday, August 1st. BidaskClub upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Wells Fargo & Company restated a “buy” rating on shares of Principal Financial Group in a research report on Thursday, June 29th. Finally, Barclays PLC upped their price objective on shares of Principal Financial Group from $61.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, August 11th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. Principal Financial Group has an average rating of “Hold” and a consensus target price of $61.78.

Principal Financial Group Inc (NYSE PFG) opened at 63.12 on Thursday. The stock’s 50 day moving average is $63.57 and its 200-day moving average is $63.76. Principal Financial Group Inc has a 1-year low of $49.04 and a 1-year high of $67.73. The firm has a market capitalization of $18.24 billion, a PE ratio of 14.35 and a beta of 1.66.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $3.16 billion. During the same period in the previous year, the business earned $1.15 earnings per share. Equities research analysts forecast that Principal Financial Group Inc will post $5.19 EPS for the current year.

The business 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 dividend of $0.47 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.46. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Wednesday, August 30th. Principal Financial Group’s payout ratio is currently 42.73%.

In related news, insider James P. Mccaughan sold 6,193 shares of Principal Financial Group stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $62.33, for a total transaction of $386,009.69. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Karen E. Shaff sold 30,500 shares of Principal Financial Group stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $65.00, for a total transaction of $1,982,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 256,218 shares of company stock worth $16,542,380. Company insiders own 1.50% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “ProShare Advisors LLC Grows Position in Principal Financial Group Inc (PFG)” was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this news story on another domain, it was copied illegally and republished in violation of US and international copyright law. The legal version of this news story can be accessed at https://www.thecerbatgem.com/2017/09/21/proshare-advisors-llc-grows-position-in-principal-financial-group-inc-pfg.html.

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.

Want to see what other hedge funds are holding PFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Principal Financial Group Inc (NYSE:PFG).

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

Receive News & Stock Ratings for Principal Financial Group Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Principal Financial Group Inc and related stocks with our FREE daily email newsletter.