Candriam Luxembourg S.C.A. lowered its stake in shares of Principal Financial Group Inc (NYSE:PFG) by 24.3% during the third quarter, HoldingsChannel reports. The firm owned 48,760 shares of the financial services provider’s stock after selling 15,671 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in Principal Financial Group were worth $2,857,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in PFG. Assetmark Inc. raised its stake in Principal Financial Group by 2.9% in the 2nd quarter. Assetmark Inc. now owns 188,973 shares of the financial services provider’s stock valued at $10,006,000 after acquiring an additional 5,267 shares during the period. Conning Inc. raised its stake in Principal Financial Group by 10.1% in the 3rd quarter. Conning Inc. now owns 790,207 shares of the financial services provider’s stock valued at $46,298,000 after acquiring an additional 72,347 shares during the period. Swiss National Bank raised its stake in Principal Financial Group by 3.1% in the 2nd quarter. Swiss National Bank now owns 955,363 shares of the financial services provider’s stock valued at $50,577,000 after acquiring an additional 29,000 shares during the period. Mainstay Capital Management LLC ADV raised its stake in Principal Financial Group by 2,445.0% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 802,356 shares of the financial services provider’s stock valued at $15,654,000 after acquiring an additional 770,829 shares during the period. Finally, Iowa State Bank grew its holdings in Principal Financial Group by 2.2% in the 3rd quarter. Iowa State Bank now owns 92,714 shares of the financial services provider’s stock valued at $5,432,000 after buying an additional 1,997 shares in the last quarter. Institutional investors own 68.64% of the company’s stock.

PFG has been the topic of a number of research reports. Zacks Investment Research raised Principal Financial Group from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Wednesday, September 26th. Morgan Stanley decreased their price objective on Principal Financial Group from $64.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 13th. Deutsche Bank initiated coverage on Principal Financial Group in a report on Tuesday, October 16th. They issued a “hold” rating and a $61.00 price objective on the stock. UBS Group upped their price objective on Principal Financial Group from $57.00 to $59.00 and gave the company a “neutral” rating in a report on Monday, October 8th. Finally, Credit Suisse Group decreased their price objective on Principal Financial Group from $62.00 to $56.00 and set a “neutral” rating on the stock in a report on Friday, August 17th. Nine equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $64.70.

In other news, insider Amy Christine Friedrich sold 1,700 shares of the stock in a transaction on Friday, October 5th. The stock was sold at an average price of $61.00, for a total transaction of $103,700.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daniel Gelatt bought 25,000 shares of Principal Financial Group stock in a transaction dated Monday, November 5th. The shares were bought at an average cost of $48.10 per share, for a total transaction of $1,202,500.00. Following the completion of the acquisition, the director now owns 138,694 shares in the company, valued at approximately $6,671,181.40. The disclosure for this purchase can be found here. Corporate insiders own 1.50% of the company’s stock.

Shares of NYSE PFG opened at $48.00 on Wednesday. Principal Financial Group Inc has a one year low of $45.20 and a one year high of $75.58.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, October 25th. The financial services provider reported $1.67 EPS for the quarter, meeting analysts’ consensus estimates of $1.67. The firm had revenue of $4.35 billion during the quarter, compared to analyst estimates of $3.86 billion.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Monday, December 3rd will be issued a dividend of $0.54 per share. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.53. This represents a $2.16 annualized dividend and a dividend yield of 4.50%. The ex-dividend date of this dividend is Friday, November 30th.

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Principal Financial Group Company Profile

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. It operates through Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.

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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)

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