Advisor Partners LLC boosted its stake in Principal Financial Group Inc (NYSE:PFG) by 6.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 6,287 shares of the financial services provider’s stock after buying an additional 366 shares during the period. Advisor Partners LLC’s holdings in Principal Financial Group were worth $403,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Iowa State Bank boosted its stake in 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 valued at $6,277,000 after buying an additional 1,494 shares during the period. CENTRAL TRUST Co boosted its stake in 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 valued at $137,000 after buying an additional 52 shares during the period. ProShare Advisors LLC boosted its stake in 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 valued at $5,965,000 after buying an additional 3,162 shares during the period. Chevy Chase Trust Holdings Inc. boosted its stake in 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 valued at $14,570,000 after buying an additional 6,913 shares during the period. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in 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 valued at $453,000 after buying an additional 249 shares during the period. Institutional investors own 70.45% of the company’s stock.

Principal Financial Group Inc (NYSE PFG) opened at 65.99 on Thursday. Principal Financial Group Inc has a one year low of $46.36 and a one year high of $67.73. The stock has a 50 day moving average of $65.52 and a 200-day moving average of $63.30. The stock has a market cap of $19.04 billion, a P/E ratio of 15.00 and a beta of 1.65.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.09. The business 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 in the prior year, the company posted $1.15 earnings per share. Analysts anticipate that Principal Financial Group Inc will post $5.18 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be issued a $0.47 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $1.88 annualized dividend and a yield of 2.85%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.46. Principal Financial Group’s dividend payout ratio is presently 41.82%.

Principal Financial Group announced that its board has authorized a stock repurchase program on Wednesday, May 17th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

TRADEMARK VIOLATION WARNING: This report was first published by Daily Political and is owned by of Daily Political. If you are accessing this report on another site, it was illegally stolen and republished in violation of international copyright laws. The original version of this report can be read at https://www.dailypolitical.com/2017/08/10/principal-financial-group-inc-pfg-stake-increased-by-advisor-partners-llc.html.

Several analysts have recently commented on PFG shares. Wells Fargo & Company restated a “buy” rating on shares of Principal Financial Group in a research note on Thursday, June 29th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $68.00 target price on shares of Principal Financial Group in a research note on Thursday, August 3rd. Royal Bank Of Canada restated a “buy” rating and issued a $73.00 target price on shares of Principal Financial Group in a research note on Wednesday, July 12th. Zacks Investment Research cut shares of Principal Financial Group from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. Finally, Deutsche Bank AG raised their target price on shares of Principal Financial Group from $60.00 to $62.00 and gave the stock a “hold” rating in a research note on Wednesday, April 19th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. Principal Financial Group presently has a consensus rating of “Hold” and an average price target of $61.22.

In related news, insider James P. Mccaughan sold 65,818 shares of the company’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $63.53, for a total value of $4,181,417.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Karen E. Shaff sold 38,105 shares of the company’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $65.05, for a total transaction of $2,478,730.25. The disclosure for this sale can be found here. Insiders sold 355,913 shares of company stock valued at $23,099,450 in the last ninety days. Corporate 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.