Belpointe Asset Management LLC acquired a new position in shares of Principal Financial Group Inc (NYSE:PFG) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,226 shares of the financial services provider’s stock, valued at approximately $465,000.

Other institutional investors have also bought and sold shares of the company. BerganKDV Wealth Management LLC acquired a new position in shares of Principal Financial Group during the 3rd quarter worth about $384,000. State of Tennessee Treasury Department boosted its stake in shares of Principal Financial Group by 25.7% during the 2nd quarter. State of Tennessee Treasury Department now owns 129,360 shares of the financial services provider’s stock worth $8,288,000 after buying an additional 26,432 shares during the last quarter. Swiss National Bank boosted its stake in shares of Principal Financial Group by 3.0% during the 2nd quarter. Swiss National Bank now owns 1,050,263 shares of the financial services provider’s stock worth $67,290,000 after buying an additional 30,900 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new position in shares of Principal Financial Group during the 2nd quarter worth about $2,210,000. Finally, Chicago Equity Partners LLC acquired a new position in shares of Principal Financial Group during the 2nd quarter worth about $2,880,000. Institutional investors own 68.76% of the company’s stock.

In other Principal Financial Group news, CEO Daniel Joseph Houston sold 37,080 shares of the stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $70.05, for a total value of $2,597,454.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nora Mary Everett sold 17,290 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $70.16, for a total transaction of $1,213,066.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 191,413 shares of company stock worth $13,244,925. Insiders own 1.50% of the company’s stock.

A number of equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $73.00 target price on shares of Principal Financial Group in a report on Monday. Wells Fargo & Company set a $79.00 target price on shares of Principal Financial Group and gave the company a “buy” rating in a report on Thursday, December 7th. Goldman Sachs Group assumed coverage on shares of Principal Financial Group in a report on Wednesday, October 18th. They issued a “neutral” rating and a $70.00 target price on the stock. Zacks Investment Research cut shares of Principal Financial Group from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Finally, Morgan Stanley upped their target price on shares of Principal Financial Group from $67.00 to $72.00 and gave the company an “equal weight” rating in a report on Thursday, October 5th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. Principal Financial Group has a consensus rating of “Hold” and an average price target of $68.20.

Shares of Principal Financial Group Inc (PFG) traded down $0.36 during mid-day trading on Friday, hitting $69.89. 1,089,200 shares of the stock were exchanged, compared to its average volume of 1,110,032. The company has a market cap of $20,370.00, a PE ratio of 13.69, a price-to-earnings-growth ratio of 1.35 and a beta of 1.71. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.10 and a current ratio of 0.10. Principal Financial Group Inc has a 12 month low of $56.12 and a 12 month high of $72.23.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Thursday, October 26th. The financial services provider reported $1.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.30 by ($0.02). The company had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.12 billion. Principal Financial Group had a net margin of 12.35% and a return on equity of 13.55%. During the same period in the prior year, the company earned $1.15 earnings per share. research analysts anticipate that Principal Financial Group Inc will post 5.22 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Monday, December 4th will be issued a $0.49 dividend. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.47. This represents a $1.96 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Friday, December 1st. Principal Financial Group’s dividend payout ratio is currently 32.13%.

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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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