Veritable L.P. grew its position in shares of Principal Financial Group Inc (NYSE:PFG) by 4.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,137 shares of the financial services provider’s stock after acquiring an additional 235 shares during the quarter. Veritable L.P.’s holdings in Principal Financial Group were worth $393,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the company. OxFORD Asset Management LLP bought a new position in shares of Principal Financial Group during the second quarter worth about $7,035,000. Virtu KCG Holdings LLC increased its holdings in shares of Principal Financial Group by 5.0% in the 2nd quarter. Virtu KCG Holdings LLC now owns 8,527 shares of the financial services provider’s stock worth $546,000 after acquiring an additional 405 shares during the period. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Principal Financial Group by 749.7% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 254,900 shares of the financial services provider’s stock worth $16,331,000 after acquiring an additional 224,900 shares during the period. Parametric Portfolio Associates LLC increased its holdings in shares of Principal Financial Group by 44.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 801,565 shares of the financial services provider’s stock worth $51,356,000 after acquiring an additional 245,198 shares during the period. Finally, Advisor Group Inc. increased its holdings in shares of Principal Financial Group by 8.1% in the 2nd quarter. Advisor Group Inc. now owns 42,224 shares of the financial services provider’s stock worth $2,703,000 after acquiring an additional 3,159 shares during the period. Institutional investors and hedge funds own 68.26% of the company’s stock.

Several brokerages recently weighed in on PFG. Zacks Investment Research upgraded shares of Principal Financial Group from a “sell” rating to a “hold” rating in a research report on Monday. Royal Bank Of Canada restated a “buy” rating and issued a $74.00 target price on shares of Principal Financial Group in a research report on Wednesday, September 6th. BidaskClub lowered shares of Principal Financial Group from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Barclays PLC raised 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 note on Friday, August 11th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $68.00 price target on shares of Principal Financial Group in a report on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $63.88.

Shares of Principal Financial Group Inc (NYSE:PFG) opened at 64.92 on Tuesday. The firm has a market capitalization of $18.76 billion, a price-to-earnings ratio of 14.75 and a beta of 1.67. Principal Financial Group Inc has a 52 week low of $50.96 and a 52 week high of $67.73. The stock has a 50 day moving average of $62.98 and a 200-day moving average of $63.78.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.09. The company had revenue of $3.27 billion for 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 previous year, the firm earned $1.15 earnings per share. Analysts expect that Principal Financial Group Inc will post $5.19 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 1st were paid a $0.47 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This is a positive change 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 2.90%. Principal Financial Group’s dividend payout ratio (DPR) is 42.73%.

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In other Principal Financial Group news, EVP Karen E. Shaff sold 30,500 shares of the 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider James P. Mccaughan sold 60,816 shares of the stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $64.43, for a total transaction of $3,918,374.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 241,588 shares of company stock valued at $15,597,282. 1.50% of the stock is currently owned by corporate insiders.

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.

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

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