Private Advisor Group LLC acquired a new position in shares of Principal Financial Group Inc (NYSE:PFG) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,881 shares of the financial services provider’s stock, valued at approximately $255,000.

A number of other institutional investors have also modified their holdings of the business. Pacer Advisors Inc. grew its position in Principal Financial Group by 0.7% during the 2nd quarter. Pacer Advisors Inc. now owns 5,569 shares of the financial services provider’s stock worth $357,000 after purchasing an additional 38 shares during the last quarter. Cookson Peirce & Co. Inc. grew its position in Principal Financial Group by 0.8% during the 2nd quarter. Cookson Peirce & Co. Inc. now owns 6,660 shares of the financial services provider’s stock worth $427,000 after purchasing an additional 50 shares during the last quarter. Pitcairn Co. grew its position in Principal Financial Group by 1.5% during the 2nd quarter. Pitcairn Co. now owns 4,312 shares of the financial services provider’s stock worth $276,000 after purchasing an additional 63 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Principal Financial Group by 0.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,914 shares of the financial services provider’s stock worth $1,276,000 after purchasing an additional 82 shares during the last quarter. Finally, Veritable L.P. grew its position in Principal Financial Group by 4.0% during the 2nd quarter. Veritable L.P. now owns 6,137 shares of the financial services provider’s stock worth $393,000 after purchasing an additional 235 shares during the last quarter. 68.76% of the stock is currently owned by institutional investors.

Shares of Principal Financial Group Inc (NYSE:PFG) traded down $0.53 during trading hours on Thursday, hitting $70.25. 1,024,600 shares of the stock traded hands, compared to its average volume of 1,110,119. The stock has a market capitalization of $20,438.06, a P/E ratio of 13.80, a price-to-earnings-growth ratio of 1.36 and a beta of 1.71. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.26. Principal Financial Group Inc has a 1-year low of $56.12 and a 1-year high of $72.23.

Principal Financial Group (NYSE:PFG) last issued its earnings results on Thursday, October 26th. The financial services provider reported $1.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.30 by ($0.02). The firm had revenue of $3.95 billion during the quarter, compared to analysts’ expectations 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 period in the previous year, the firm earned $1.15 EPS. sell-side analysts forecast 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. Stockholders of record on Monday, December 4th will be issued a $0.49 dividend. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.47. The ex-dividend date is Friday, December 1st. This represents a $1.96 annualized dividend and a dividend yield of 2.79%. Principal Financial Group’s payout ratio is presently 32.13%.

In related news, insider Nora Mary Everett sold 12,398 shares of the firm’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $68.00, for a total value of $843,064.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Daniel Joseph Houston sold 38,097 shares of the firm’s stock in a transaction dated Wednesday, October 18th. The shares were 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 191,413 shares of company stock valued at $13,244,925 in the last quarter. Company insiders own 1.50% of the company’s stock.

Several brokerages have issued reports on PFG. Keefe, Bruyette & Woods reissued a “hold” rating and set a $73.00 price objective on shares of Principal Financial Group in a research report on Monday. Wells Fargo & Company set a $79.00 price objective on shares of Principal Financial Group and gave the stock a “buy” rating in a research report on Thursday, December 7th. Goldman Sachs Group began coverage on shares of Principal Financial Group in a research report on Wednesday, October 18th. They set a “neutral” rating and a $70.00 price objective on the stock. Zacks Investment Research downgraded shares of Principal Financial Group from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Finally, Morgan Stanley lifted their target price on shares of Principal Financial Group from $67.00 to $72.00 and gave the company an “equal weight” rating in a report on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $68.20.

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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.

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

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