Eaton Vance Management maintained its position in shares of Principal Financial Group Inc (NYSE:PFG) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 65,248 shares of the financial services provider’s stock at the end of the second quarter. Eaton Vance Management’s holdings in Principal Financial Group were worth $4,180,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of PFG. Jacobi Capital Management LLC increased its holdings in shares of Principal Financial Group by 291.1% during the first quarter. Jacobi Capital Management LLC now owns 2,691 shares of the financial services provider’s stock valued at $167,000 after acquiring an additional 2,003 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in shares of Principal Financial Group during the first quarter valued at about $202,000. Blair William & Co. IL acquired a new position in shares of Principal Financial Group during the first quarter valued at about $205,000. Eagle Global Advisors LLC acquired a new position in shares of Principal Financial Group during the second quarter valued at about $207,000. Finally, Lowe Brockenbrough & Co. Inc. acquired a new position in shares of Principal Financial Group during the first quarter valued at about $211,000. Hedge funds and other institutional investors own 68.19% of the company’s stock.

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Several research firms have recently issued reports on PFG. Zacks Investment Research upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Tuesday, August 1st. 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. Barclays PLC upped their price objective on shares of Principal Financial Group from $61.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, August 11th. BidaskClub downgraded shares of Principal Financial Group from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $74.00 price objective on shares of Principal Financial Group in a report on Wednesday, September 6th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. Principal Financial Group has a consensus rating of “Hold” and an average price target of $61.78.

Shares of Principal Financial Group Inc (PFG) opened at 62.51 on Friday. Principal Financial Group Inc has a 12 month low of $48.58 and a 12 month high of $67.73. The company has a 50-day moving average price of $63.82 and a 200-day moving average price of $63.76. The stock has a market cap of $18.06 billion, a price-to-earnings ratio of 14.21 and a beta of 1.66.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $3.16 billion. Principal Financial Group had a return on equity of 13.57% and a net margin of 10.15%. During the same quarter in the previous year, the company posted $1.15 earnings per share. On average, analysts expect that Principal Financial Group Inc will post $5.19 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be given a dividend of $0.47 per share. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.46. The ex-dividend date is Wednesday, August 30th. This represents a $1.88 annualized dividend and a yield of 3.01%. Principal Financial Group’s payout ratio is 42.73%.

In other Principal Financial Group news, insider James P. Mccaughan sold 6,193 shares of Principal Financial Group stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $62.33, for a total transaction of $386,009.69. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Gregory Bernard Elming sold 30,707 shares of Principal Financial Group stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $64.20, for a total value of $1,971,389.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 286,925 shares of company stock worth $18,513,769. 1.50% of the stock is currently owned by corporate insiders.

Principal Financial Group 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.

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

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