MML Investors Services LLC lowered its stake in Principal Financial Group Inc (NYSE:PFG) by 3.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,979 shares of the financial services provider’s stock after selling 827 shares during the quarter. MML Investors Services LLC’s holdings in Principal Financial Group were worth $1,472,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of PFG. Suntrust Banks Inc. boosted its stake in Principal Financial Group by 20.3% in the 1st quarter. Suntrust Banks Inc. now owns 5,537 shares of the financial services provider’s stock worth $349,000 after purchasing an additional 933 shares during the period. UBS Asset Management Americas Inc. boosted its stake in Principal Financial Group by 10.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 869,621 shares of the financial services provider’s stock worth $54,882,000 after purchasing an additional 79,107 shares during the period. Sei Investments Co. boosted its stake in Principal Financial Group by 96.8% in the 1st quarter. Sei Investments Co. now owns 66,639 shares of the financial services provider’s stock worth $4,205,000 after purchasing an additional 32,774 shares during the period. State of Wisconsin Investment Board boosted its stake in Principal Financial Group by 128.4% in the 1st quarter. State of Wisconsin Investment Board now owns 118,398 shares of the financial services provider’s stock worth $7,472,000 after purchasing an additional 66,551 shares during the period. Finally, Norinchukin Bank The boosted its stake in Principal Financial Group by 13.2% in the 1st quarter. Norinchukin Bank The now owns 9,396 shares of the financial services provider’s stock worth $593,000 after purchasing an additional 1,092 shares during the period. Institutional investors and hedge funds own 68.20% of the company’s stock.

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In other news, EVP Karen E. Shaff sold 30,500 shares of the company’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $65.00, for a total value of $1,982,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James P. Mccaughan sold 60,816 shares of the company’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $64.43, for a total value of $3,918,374.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 256,218 shares of company stock valued at $16,542,380. Corporate insiders own 1.50% of the company’s stock.

Shares of Principal Financial Group Inc (NYSE PFG) opened at 63.12 on Friday. The company has a market cap of $18.24 billion, a P/E ratio of 14.35 and a beta of 1.66. The stock’s 50 day moving average price is $63.57 and its 200-day moving average price is $63.76. Principal Financial Group Inc has a 12 month low of $49.04 and a 12 month high of $67.73.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.09. The firm had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.16 billion. Principal Financial Group had a return on equity of 13.57% and a net margin of 10.15%. During the same quarter in the prior year, the company posted $1.15 earnings per share. Equities research analysts expect that Principal Financial Group Inc will post $5.19 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be paid a $0.47 dividend. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.98%. Principal Financial Group’s dividend payout ratio is 42.73%.

Several research analysts have commented on PFG shares. Wells Fargo & Company restated a “buy” rating on shares of Principal Financial Group in a research note on Thursday, June 29th. Barclays PLC raised their target price on Principal Financial Group from $61.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday, August 11th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $68.00 target price on shares of Principal Financial Group in a research note on Thursday, August 3rd. BidaskClub downgraded Principal Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $73.00 price target on shares of Principal Financial Group in a research report on Wednesday, July 12th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average 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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