Advisors Asset Management Inc. Sells 12,787 Shares of Principal Financial Group Inc (PFG)

Advisors Asset Management Inc. lowered its stake in Principal Financial Group Inc (NYSE:PFG) by 31.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,352 shares of the financial services provider’s stock after selling 12,787 shares during the period. Advisors Asset Management Inc.’s holdings in Principal Financial Group were worth $1,448,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PFG. Delphi Management Inc. MA purchased a new position in shares of Principal Financial Group during the second quarter valued at approximately $2,175,000. Andra AP fonden raised its stake in shares of Principal Financial Group by 14.9% during the second quarter. Andra AP fonden now owns 151,900 shares of the financial services provider’s stock valued at $8,043,000 after acquiring an additional 19,700 shares in the last quarter. M Holdings Securities Inc. bought a new stake in shares of Principal Financial Group during the second quarter valued at approximately $376,000. Schroder Investment Management Group raised its stake in shares of Principal Financial Group by 10.1% during the second quarter. Schroder Investment Management Group now owns 1,515,254 shares of the financial services provider’s stock valued at $80,263,000 after acquiring an additional 138,878 shares in the last quarter. Finally, Verition Fund Management LLC raised its stake in shares of Principal Financial Group by 110.7% during the second quarter. Verition Fund Management LLC now owns 23,299 shares of the financial services provider’s stock valued at $1,234,000 after acquiring an additional 12,239 shares in the last quarter. Institutional investors own 68.64% of the company’s stock.

PFG has been the subject of several research analyst reports. Barclays decreased their price target on shares of Principal Financial Group from $72.00 to $68.00 and set an “overweight” rating for the company in a research note on Monday, July 9th. Morgan Stanley decreased their price target on shares of Principal Financial Group from $70.00 to $69.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 11th. Zacks Investment Research raised shares of Principal Financial Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 1st. Credit Suisse Group decreased their price target on shares of Principal Financial Group from $62.00 to $56.00 and set a “neutral” rating for the company in a research note on Friday, August 17th. Finally, UBS Group lifted their price target on shares of Principal Financial Group from $57.00 to $59.00 and gave the company a “neutral” rating in a research note on Monday, October 8th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $65.50.

In related news, insider Amy Christine Friedrich sold 1,700 shares of the business’s stock in a transaction that occurred on Friday, October 5th. The shares were sold at an average price of $61.00, for a total value of $103,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James P. Mccaughan sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $55.42, for a total transaction of $1,108,400.00. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Shares of NYSE:PFG opened at $47.07 on Thursday. Principal Financial Group Inc has a 52 week low of $45.20 and a 52 week high of $75.58. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.10 and a quick ratio of 0.10.

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, hitting analysts’ consensus estimates of $1.67. The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $3.86 billion. Principal Financial Group had a net margin of 12.35% and a return on equity of 13.55%. On average, equities analysts predict that Principal Financial Group Inc will post 5.22 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Monday, December 3rd will be paid a $0.54 dividend. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, November 30th. This represents a $2.16 dividend on an annualized basis and a yield of 4.59%.

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

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