Icon Advisers Inc. Co. boosted its stake in Principal Financial Group Inc (NYSE:PFG) by 28.7% in the 3rd quarter, Holdings Channel reports. The firm owned 37,053 shares of the financial services provider’s stock after acquiring an additional 8,253 shares during the quarter. Icon Advisers Inc. Co.’s holdings in Principal Financial Group were worth $2,171,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PFG. Itau Unibanco Holding S.A. bought a new position in shares of Principal Financial Group during the second quarter valued at $100,000. First Mercantile Trust Co. raised its stake in shares of Principal Financial Group by 101.1% during the second quarter. First Mercantile Trust Co. now owns 1,910 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 960 shares during the last quarter. Dupont Capital Management Corp raised its stake in shares of Principal Financial Group by 140.2% during the second quarter. Dupont Capital Management Corp now owns 2,356 shares of the financial services provider’s stock valued at $125,000 after acquiring an additional 1,375 shares during the last quarter. Focused Wealth Management Inc raised its stake in shares of Principal Financial Group by 2,090.9% during the second quarter. Focused Wealth Management Inc now owns 2,410 shares of the financial services provider’s stock valued at $128,000 after acquiring an additional 2,300 shares during the last quarter. Finally, Lourd Capital LLC bought a new position in shares of Principal Financial Group during the third quarter valued at $211,000. 68.64% of the stock is owned by institutional investors and hedge funds.

PFG opened at $49.41 on Thursday. Principal Financial Group Inc has a twelve month low of $45.20 and a twelve month high of $75.58.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Thursday, October 25th. The financial services provider reported $1.67 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.67. The firm had revenue of $4.35 billion for the quarter, compared to analyst estimates of $3.86 billion.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Monday, December 3rd will be given a dividend of $0.54 per share. The ex-dividend date is Friday, November 30th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.53. This represents a $2.16 annualized dividend and a dividend yield of 4.37%.

Several equities analysts have recently issued reports on the stock. UBS Group raised their price target on shares of Principal Financial Group from $57.00 to $59.00 and gave the company a “neutral” rating in a research note on Monday, October 8th. Zacks Investment Research raised shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research note on Wednesday, September 26th. Credit Suisse Group dropped their price target on shares of Principal Financial Group from $62.00 to $56.00 and set a “neutral” rating for the company in a research note on Friday, August 17th. Morgan Stanley decreased their price objective on shares of Principal Financial Group from $70.00 to $69.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 11th. Finally, Deutsche Bank started coverage on shares of Principal Financial Group in a research report on Tuesday, October 16th. They set a “hold” rating and a $61.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Principal Financial Group presently has a consensus rating of “Hold” and a consensus price target of $65.50.

In related news, Director Daniel Gelatt purchased 25,000 shares of Principal Financial Group stock in a transaction on Monday, November 5th. The stock was acquired at an average cost of $48.10 per share, for a total transaction of $1,202,500.00. Following the completion of the acquisition, the director now owns 138,694 shares of the company’s stock, valued at approximately $6,671,181.40. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Amy Christine Friedrich sold 1,700 shares of the firm’s stock in a transaction on Friday, October 5th. The stock was sold at an average price of $61.00, for a total transaction of $103,700.00. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

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About Principal Financial Group

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. It operates through Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.

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

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