Financial Advisors Network Inc. raised its position in shares of Principal Financial Group Inc (NYSE:PFG) by 6.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,693 shares of the financial services provider’s stock after buying an additional 571 shares during the period. Financial Advisors Network Inc.’s holdings in Principal Financial Group were worth $621,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. ProShare Advisors LLC increased 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. Mn Services Vermogensbeheer B.V. increased 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. Mason Street Advisors LLC increased its position in shares of Principal Financial Group by 0.9% in the first quarter. Mason Street Advisors LLC now owns 36,946 shares of the financial services provider’s stock worth $2,332,000 after buying an additional 347 shares in the last quarter. Candriam Luxembourg S.C.A. increased its position in shares of Principal Financial Group by 17.4% in the first quarter. Candriam Luxembourg S.C.A. now owns 35,605 shares of the financial services provider’s stock worth $2,247,000 after buying an additional 5,289 shares in the last quarter. Finally, Gotham Asset Management LLC acquired a new position in shares of Principal Financial Group during the first quarter worth $1,000,000. Institutional investors own 70.10% of the company’s stock.

Principal Financial Group Inc (NYSE PFG) opened at 62.93 on Friday. The firm has a market cap of $18.18 billion, a P/E ratio of 14.30 and a beta of 1.65. The company has a 50-day moving average price of $65.66 and a 200-day moving average price of $63.56. Principal Financial Group Inc has a 12-month low of $46.83 and a 12-month high of $67.73.

Principal Financial Group (NYSE:PFG) last announced its earnings results on Thursday, July 27th. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.09. Principal Financial Group had a return on equity of 13.57% and a net margin of 10.15%. The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the firm earned $1.15 EPS. On average, analysts predict that Principal Financial Group Inc will post $5.18 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Wednesday, August 30th. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.46. Principal Financial Group’s dividend payout ratio (DPR) is currently 41.82%.

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

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A number of equities analysts have recently weighed in on PFG shares. Wells Fargo & Company reiterated a “buy” rating on shares of Principal Financial Group in a report on Thursday, June 29th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $68.00 target price on shares of Principal Financial Group in a report on Thursday, August 3rd. Royal Bank Of Canada reiterated a “buy” rating and issued a $73.00 target price on shares of Principal Financial Group in a report on Wednesday, July 12th. Barclays PLC increased their price objective on Principal Financial Group from $61.00 to $63.00 and gave the stock an “equal weight” rating in a report on Friday, August 11th. Finally, BidaskClub downgraded Principal Financial Group from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $61.67.

In related news, insider James P. Mccaughan sold 60,817 shares of Principal Financial Group stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $66.98, for a total value of $4,073,522.66. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Nora Mary Everett sold 8,700 shares of Principal Financial Group stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $63.52, for a total value of $552,624.00. The disclosure for this sale can be found here. In the last three months, insiders sold 345,538 shares of company stock worth $22,435,450. 1.50% of the stock is owned by 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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