New York State Common Retirement Fund trimmed its position in shares of Principal Financial Group Inc (NYSE:PFG) by 8.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 707,208 shares of the financial services provider’s stock after selling 66,393 shares during the quarter. New York State Common Retirement Fund owned 0.24% of Principal Financial Group worth $45,311,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PFG. BlackRock Inc. boosted its stake in Principal Financial Group by 2,276.3% during the first quarter. BlackRock Inc. now owns 17,714,618 shares of the financial services provider’s stock worth $1,117,969,000 after buying an additional 16,969,140 shares during the period. Janus Capital Management LLC boosted its stake in Principal Financial Group by 399.3% during the first quarter. Janus Capital Management LLC now owns 2,379,858 shares of the financial services provider’s stock worth $150,193,000 after buying an additional 1,903,190 shares during the period. Vanguard Group Inc. boosted its stake in Principal Financial Group by 6.7% during the first quarter. Vanguard Group Inc. now owns 29,649,875 shares of the financial services provider’s stock worth $1,871,204,000 after buying an additional 1,862,125 shares during the period. Old Mutual Global Investors UK Ltd. boosted its stake in Principal Financial Group by 306.0% during the second quarter. Old Mutual Global Investors UK Ltd. now owns 577,254 shares of the financial services provider’s stock worth $36,984,000 after buying an additional 435,064 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in Principal Financial Group by 30.4% during the first quarter. PNC Financial Services Group Inc. now owns 1,499,968 shares of the financial services provider’s stock worth $94,663,000 after buying an additional 349,372 shares during the period. 68.20% of the stock is owned by institutional investors.

ILLEGAL ACTIVITY NOTICE: This piece was originally reported by Daily Political and is owned by of Daily Political. If you are viewing this piece on another website, it was illegally stolen and republished in violation of United States and international copyright and trademark law. The legal version of this piece can be accessed at https://www.dailypolitical.com/2017/09/23/principal-financial-group-inc-pfg-holdings-reduced-by-new-york-state-common-retirement-fund.html.

In other news, insider James P. Mccaughan sold 6,193 shares of the stock in a transaction 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Karen E. Shaff sold 30,500 shares of the stock in a transaction on Monday, July 10th. The stock was sold at an average price of $65.00, for a total value of $1,982,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 256,218 shares of company stock valued at $16,542,380. Company insiders own 1.50% of the company’s stock.

Several research analysts have commented on the stock. Zacks Investment Research lowered shares of Principal Financial Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 22nd. Royal Bank Of Canada reiterated a “buy” rating and set a $74.00 target price on shares of Principal Financial Group in a research report on Wednesday, September 6th. BidaskClub downgraded Principal Financial Group from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $68.00 target price on shares of Principal Financial Group in a research report on Thursday, August 3rd. Finally, Barclays PLC lifted their target price on Principal Financial Group from $61.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, August 11th. Four 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 stock. The company currently has an average rating of “Hold” and a consensus target price of $61.78.

Shares of Principal Financial Group Inc (PFG) opened at 63.12 on Friday. The company has a market capitalization of $18.24 billion, a P/E ratio of 14.35 and a beta of 1.66. Principal Financial Group Inc has a 52-week low of $49.04 and a 52-week high of $67.73. The stock’s 50 day moving average price is $63.57 and its 200 day moving average price is $63.76.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.09. The business had revenue of $3.27 billion during the quarter, compared to analysts’ expectations 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 period in the prior year, the business posted $1.15 EPS. On average, equities research analysts forecast that Principal Financial Group Inc will post $5.19 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.47 per share. The ex-dividend date is Wednesday, August 30th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.46. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.98%. Principal Financial Group’s dividend payout ratio is currently 42.73%.

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.