Bessemer Group Inc. decreased its position in shares of Principal Financial Group Inc (NYSE:PFG) by 32.6% during the second quarter, Holdings Channel reports. The institutional investor owned 51,077 shares of the financial services provider’s stock after selling 24,685 shares during the period. Bessemer Group Inc.’s holdings in Principal Financial Group were worth $3,273,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PFG. Iowa State Bank boosted its position in shares of Principal Financial Group by 1.5% in the first quarter. Iowa State Bank now owns 99,466 shares of the financial services provider’s stock worth $6,277,000 after buying an additional 1,494 shares in the last quarter. CENTRAL TRUST Co boosted its position in shares of Principal Financial Group by 2.4% in the first quarter. CENTRAL TRUST Co now owns 2,176 shares of the financial services provider’s stock worth $137,000 after buying an additional 52 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Principal Financial Group by 3.5% in the first quarter. ProShare Advisors LLC now owns 94,515 shares of the financial services provider’s stock worth $5,965,000 after buying an additional 3,162 shares in the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in shares of Principal Financial Group by 3.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 230,858 shares of the financial services provider’s stock worth $14,570,000 after buying an additional 6,913 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. boosted its position in shares of Principal Financial Group by 3.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 7,672 shares of the financial services provider’s stock worth $453,000 after buying an additional 249 shares in the last quarter. Hedge funds and other institutional investors own 70.45% of the company’s stock.

Principal Financial Group Inc (PFG) opened at 66.51 on Tuesday. The company has a market cap of $19.19 billion, a price-to-earnings ratio of 15.12 and a beta of 1.65. The firm has a 50-day moving average of $65.33 and a 200-day moving average of $63.03. Principal Financial Group Inc has a 52 week low of $46.36 and a 52 week high of $67.73.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.22 by $0.09. The company had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.16 billion. Principal Financial Group had a net margin of 10.15% and a return on equity of 13.57%. During the same quarter last year, the firm posted $1.15 EPS. Equities analysts forecast that Principal Financial Group Inc will post $5.18 earnings per share for the current year.

Principal Financial Group declared that its Board of Directors has initiated a share repurchase program on Wednesday, May 17th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 1.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be given a dividend of $0.47 per share. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.88 annualized dividend and a dividend yield of 2.83%. Principal Financial Group’s dividend payout ratio (DPR) is 41.82%.

TRADEMARK VIOLATION NOTICE: This piece was first posted by Daily Political and is the sole property of of Daily Political. If you are reading this piece on another website, it was copied illegally and reposted in violation of United States & international trademark & copyright law. The original version of this piece can be accessed at https://www.dailypolitical.com/2017/08/08/bessemer-group-inc-has-3-27-million-position-in-principal-financial-group-inc-pfg.html.

PFG has been the subject of a number of analyst reports. Wells Fargo & Company restated a “buy” rating on shares of Principal Financial Group in a report on Thursday, June 29th. Keefe, Bruyette & Woods restated a “hold” rating and set a $68.00 price objective on shares of Principal Financial Group in a report on Thursday, August 3rd. Royal Bank Of Canada restated a “buy” rating and set a $73.00 price objective on shares of Principal Financial Group in a report on Wednesday, July 12th. Zacks Investment Research upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Monday, April 10th. Finally, Deutsche Bank AG boosted their price objective 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. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. Principal Financial Group presently has an average rating of “Hold” and a consensus target price of $61.22.

In other news, insider Luis E. Valdes sold 10,375 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $64.00, for a total transaction of $664,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nora Mary Everett sold 8,700 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $63.52, for a total transaction of $552,624.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 295,096 shares of company stock valued at $19,025,927. Insiders own 1.50% of the company’s stock.

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.

Want to see what other hedge funds are holding PFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Principal Financial Group Inc (NYSE:PFG).

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

Receive News & Ratings for Principal Financial Group Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Principal Financial Group Inc and related companies with MarketBeat.com's FREE daily email newsletter.