CENTRAL TRUST Co cut its stake in shares of Principal Financial Group Inc (NYSE:PFG) by 21.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,700 shares of the financial services provider’s stock after selling 476 shares during the period. CENTRAL TRUST Co’s holdings in Principal Financial Group were worth $109,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Principal Financial Group by 2,276.3% in the first quarter. BlackRock Inc. now owns 17,714,618 shares of the financial services provider’s stock valued at $1,117,969,000 after buying an additional 16,969,140 shares during the last quarter. Janus Capital Management LLC raised its position in Principal Financial Group by 399.3% in the first quarter. Janus Capital Management LLC now owns 2,379,858 shares of the financial services provider’s stock valued at $150,193,000 after buying an additional 1,903,190 shares during the last quarter. Vanguard Group Inc. raised its position in Principal Financial Group by 6.7% in the first quarter. Vanguard Group Inc. now owns 29,649,875 shares of the financial services provider’s stock valued at $1,871,204,000 after buying an additional 1,862,125 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Principal Financial Group by 745.9% in the first quarter. BNP Paribas Arbitrage SA now owns 401,219 shares of the financial services provider’s stock valued at $25,321,000 after buying an additional 353,787 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Principal Financial Group by 30.4% in the first quarter. PNC Financial Services Group Inc. now owns 1,499,968 shares of the financial services provider’s stock valued at $94,663,000 after buying an additional 349,372 shares during the last quarter. Institutional investors and hedge funds own 70.58% of the company’s stock.

Principal Financial Group Inc (PFG) opened at 66.42 on Friday. The firm has a market cap of $19.14 billion, a price-to-earnings ratio of 14.96 and a beta of 1.65. The stock’s 50 day moving average is $64.62 and its 200 day moving average is $62.53. Principal Financial Group Inc has a one year low of $44.23 and a one year high of $66.95.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Thursday, April 27th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.08. Principal Financial Group had a net margin of 10.37% and a return on equity of 13.35%. The company had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period last year, the company posted $0.97 EPS. On average, analysts predict that Principal Financial Group Inc will post $5.06 earnings per share for the current fiscal year.

Principal Financial Group declared that its Board of Directors has initiated a share repurchase plan on Wednesday, May 17th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the financial services provider to repurchase up to 1.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Monday, June 5th were given a dividend of $0.46 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.45. This represents a $1.84 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend was Thursday, June 1st. Principal Financial Group’s dividend payout ratio (DPR) is 41.44%.

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Several equities analysts recently issued reports on PFG shares. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Principal Financial Group in a report on Thursday, April 6th. Zacks Investment Research lowered shares of Principal Financial Group from a “buy” rating to a “hold” rating in a report on Tuesday, April 4th. J P Morgan Chase & Co boosted their target price on shares of Principal Financial Group from $53.00 to $56.00 and gave the company an “underweight” rating in a report on Monday, April 3rd. Deutsche Bank AG boosted their target price on shares of Principal Financial Group from $60.00 to $62.00 and gave the company a “hold” rating in a report on Wednesday, April 19th. Finally, Wells Fargo & Company restated a “buy” rating on shares of Principal Financial Group in a report on Thursday, June 29th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $59.70.

In related news, EVP Karen E. Shaff sold 30,500 shares of Principal Financial Group 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy Mark Dunbar sold 24,905 shares of Principal Financial Group stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $65.00, for a total transaction of $1,618,825.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 344,801 shares of company stock valued at $22,229,762. 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.

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

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