Rhumbline Advisers grew its position in shares of Principal Financial Group Inc (NYSE:PFG) by 5.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 509,717 shares of the financial services provider’s stock after purchasing an additional 26,519 shares during the period. Rhumbline Advisers owned approximately 0.18% of Principal Financial Group worth $32,795,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. lifted its holdings in shares of Principal Financial Group by 0.7% in the 2nd quarter. Pacer Advisors Inc. now owns 5,569 shares of the financial services provider’s stock valued at $357,000 after acquiring an additional 38 shares during the last quarter. Cookson Peirce & Co. Inc. increased its holdings in Principal Financial Group by 0.8% during the second quarter. Cookson Peirce & Co. Inc. now owns 6,660 shares of the financial services provider’s stock valued at $427,000 after buying an additional 50 shares during the period. Pitcairn Co. increased its holdings in Principal Financial Group by 1.5% during the second quarter. Pitcairn Co. now owns 4,312 shares of the financial services provider’s stock valued at $276,000 after buying an additional 63 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Principal Financial Group by 0.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,914 shares of the financial services provider’s stock valued at $1,276,000 after buying an additional 82 shares during the period. Finally, CIBC Asset Management Inc increased its holdings in Principal Financial Group by 0.4% during the second quarter. CIBC Asset Management Inc now owns 25,495 shares of the financial services provider’s stock valued at $1,633,000 after buying an additional 93 shares during the period. Hedge funds and other institutional investors own 68.01% of the company’s stock.

Several research firms have issued reports on PFG. Morgan Stanley lifted their price target on shares of Principal Financial Group from $67.00 to $72.00 and gave the stock an “equal weight” rating in a report on Thursday, October 5th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $74.00 price target on shares of Principal Financial Group in a report on Wednesday, September 6th. Zacks Investment Research raised shares of Principal Financial Group from a “sell” rating to a “hold” rating and set a $73.00 price target on the stock in a report on Monday, October 2nd. Wells Fargo & Company set a $76.00 price objective on shares of Principal Financial Group and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Finally, BidaskClub downgraded shares of Principal Financial Group from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Principal Financial Group presently has an average rating of “Hold” and a consensus target price of $67.40.

Shares of Principal Financial Group Inc (PFG) traded down $0.18 during midday trading on Friday, reaching $68.39. 1,229,000 shares of the company traded hands, compared to its average volume of 1,115,719. Principal Financial Group Inc has a one year low of $56.12 and a one year high of $69.95. The stock has a market cap of $19,799.91, a PE ratio of 13.37, a PEG ratio of 1.31 and a beta of 1.71. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.10 and a current ratio of 0.10.

Principal Financial Group (NYSE:PFG) last posted its earnings results on Thursday, October 26th. The financial services provider reported $1.28 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.02). The firm had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.12 billion. Principal Financial Group had a net margin of 12.35% and a return on equity of 13.55%. During the same quarter in the previous year, the firm earned $1.15 earnings per share. research analysts anticipate that Principal Financial Group Inc will post 5.22 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Monday, December 4th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 2.87%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Friday, December 1st. Principal Financial Group’s payout ratio is presently 30.82%.

In other news, EVP Karen E. Shaff sold 17,082 shares of the company’s stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $68.00, for a total value of $1,161,576.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Daniel Joseph Houston sold 38,097 shares of the company’s stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $68.00, for a total transaction of $2,590,596.00. The disclosure for this sale can be found here. Insiders sold a total of 143,537 shares of company stock worth $9,313,955 over the last quarter. 1.50% of the stock is currently owned by company insiders.

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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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