Principal Financial Group Inc (PFG) Stake Raised by Citigroup Inc.

Citigroup Inc. lifted its position in Principal Financial Group Inc (NYSE:PFG) by 9.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 161,933 shares of the financial services provider’s stock after buying an additional 13,528 shares during the quarter. Citigroup Inc. owned approximately 0.06% of Principal Financial Group worth $10,375,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PFG. BlackRock Inc. lifted its holdings in shares of Principal Financial Group by 2,276.3% in 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 in the last quarter. Janus Capital Management LLC lifted its holdings in shares of Principal Financial Group by 399.3% in 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 in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Principal Financial Group by 6.7% in 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 in the last quarter. Old Mutual Global Investors UK Ltd. lifted its holdings in shares of Principal Financial Group by 306.0% in 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 in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Principal Financial Group by 30.4% in 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 in the last quarter. 68.20% of the stock is currently owned by hedge funds and other institutional investors.

PFG has been the topic of a number of recent analyst reports. Wells Fargo & Company reaffirmed a “buy” rating on shares of Principal Financial Group in a research note on Thursday, June 29th. Barclays PLC raised their target price on shares of Principal Financial Group from $61.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday, August 11th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $68.00 target price on shares of Principal Financial Group in a research note on Thursday, August 3rd. BidaskClub downgraded shares of Principal Financial Group from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $73.00 target price on shares of Principal Financial Group in a research note on Wednesday, July 12th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Principal Financial Group has a consensus rating of “Hold” and an average target price of $61.78.

Principal Financial Group Inc (NYSE:PFG) traded down 0.13% during mid-day trading on Thursday, reaching $63.04. 138,026 shares of the company traded hands. The firm has a market capitalization of $18.22 billion, a P/E ratio of 14.33 and a beta of 1.66. The company’s 50 day moving average price is $63.57 and its 200 day moving average price is $63.76. Principal Financial Group Inc has a 12-month low of $49.04 and a 12-month high of $67.73.

Principal Financial Group (NYSE:PFG) last released its 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. Principal Financial Group had a return on equity of 13.57% and a net margin of 10.15%. The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the firm posted $1.15 earnings per share. Equities research analysts predict that Principal Financial Group Inc will post $5.19 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be given a dividend of $0.47 per share. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.46. The ex-dividend date is Wednesday, August 30th. 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 presently 42.73%.

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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 filing with the SEC, which is accessible through this hyperlink. Also, insider Nora Mary Everett sold 14,630 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $64.60, for a total value of $945,098.00. The disclosure for this sale can be found here. Insiders have sold a total of 256,218 shares of company stock worth $16,542,380 in the last three months. Corporate insiders own 1.50% of the company’s stock.

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.

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

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