Principal Financial Group Inc. (NYSE:PFG) shares gapped up before the market opened on Friday . The stock had previously closed at $45.46, but opened at $45.88. Principal Financial Group shares last traded at $46.67, with a volume of 673,705 shares trading hands.

PFG has been the subject of several recent research reports. Bank of America Corp. cut Principal Financial Group from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 29th. Evercore ISI initiated coverage on Principal Financial Group in a research report on Wednesday, July 6th. They set a “buy” rating and a $48.00 price target for the company. Stifel Nicolaus raised Principal Financial Group from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Sunday, July 31st. JPMorgan Chase & Co. reissued a “sell” rating and set a $46.00 price target on shares of Principal Financial Group in a research report on Friday, July 29th. Finally, Zacks Investment Research cut Principal Financial Group from a “hold” rating to a “sell” rating in a research report on Monday, July 4th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. Principal Financial Group presently has an average rating of “Hold” and an average price target of $48.79.

The firm has a 50 day moving average of $43.20 and a 200-day moving average of $41.00. The stock has a market capitalization of $13.59 billion and a price-to-earnings ratio of 11.22.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, July 28th. The company reported $1.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.09. During the same quarter in the previous year, the business earned $1.09 earnings per share. Equities analysts predict that Principal Financial Group Inc. will post $4.34 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 2nd will be issued a $0.41 dividend. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.39. The ex-dividend date is Wednesday, August 31st. This represents a $1.64 annualized dividend and a yield of 3.48%.

In other Principal Financial Group news, insider James P. Mccaughan sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $43.13, for a total value of $431,300.00. Following the completion of the sale, the insider now directly owns 195,598 shares in the company, valued at $8,436,141.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Gregory Bernard Elming sold 46,770 shares of the firm’s stock in a transaction dated Wednesday, June 22nd. The stock was sold at an average price of $43.73, for a total transaction of $2,045,252.10. The disclosure for this sale can be found here.

Several institutional investors have added to or reduced their stakes in PFG. Dorsey & Whitney Trust CO LLC raised its position in Principal Financial Group by 0.6% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 105,609 shares of the company’s stock valued at $4,751,000 after buying an additional 650 shares during the last quarter. GSA Capital Partners LLP raised its position in Principal Financial Group by 23.8% in the fourth quarter. GSA Capital Partners LLP now owns 24,870 shares of the company’s stock valued at $1,119,000 after buying an additional 4,783 shares during the last quarter. KBC Group raised its position in Principal Financial Group by 62.1% in the third quarter. KBC Group now owns 56,079 shares of the company’s stock valued at $2,655,000 after buying an additional 21,474 shares during the last quarter. US Bancorp DE raised its position in Principal Financial Group by 1.7% in the fourth quarter. US Bancorp DE now owns 69,393 shares of the company’s stock valued at $3,121,000 after buying an additional 1,164 shares during the last quarter. Finally, Trexquant Investment LP raised its position in Principal Financial Group by 1,355.4% in the fourth quarter. Trexquant Investment LP now owns 98,967 shares of the company’s stock valued at $4,452,000 after buying an additional 92,167 shares during the last quarter.

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 services. The Company’s segments include Retirement and Income Solutions; Principal Global Investors, Principal International, and U.S.

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