1,090 Shares in Principal Financial Group Inc (NYSE:PFG) Bought by TRUE Private Wealth Advisors

TRUE Private Wealth Advisors bought a new position in shares of Principal Financial Group Inc (NYSE:PFG) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,090 shares of the financial services provider’s stock, valued at approximately $63,000.

Several other hedge funds have also recently modified their holdings of the stock. Krueger & Catalano Capital Partners LLC grew its stake in shares of Principal Financial Group by 3.7% during the second quarter. Krueger & Catalano Capital Partners LLC now owns 4,750 shares of the financial services provider’s stock worth $275,000 after purchasing an additional 171 shares in the last quarter. Unison Advisors LLC grew its stake in shares of Principal Financial Group by 1.0% during the second quarter. Unison Advisors LLC now owns 19,934 shares of the financial services provider’s stock worth $1,154,000 after purchasing an additional 206 shares in the last quarter. Ropes Wealth Advisors LLC grew its stake in shares of Principal Financial Group by 5.3% during the second quarter. Ropes Wealth Advisors LLC now owns 4,709 shares of the financial services provider’s stock worth $273,000 after purchasing an additional 239 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its stake in shares of Principal Financial Group by 1.1% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 23,463 shares of the financial services provider’s stock worth $1,178,000 after purchasing an additional 247 shares in the last quarter. Finally, Cornerstone Advisors Inc. grew its stake in shares of Principal Financial Group by 34.8% during the second quarter. Cornerstone Advisors Inc. now owns 980 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 253 shares in the last quarter. Hedge funds and other institutional investors own 68.64% of the company’s stock.

In other news, insider Luis E. Valdes sold 11,829 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $59.54, for a total value of $704,298.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Julia M. Lawler sold 1,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $51.50, for a total transaction of $51,500.00. The disclosure for this sale can be found here. Insiders sold 62,490 shares of company stock valued at $3,620,939 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.

PFG traded up $1.11 on Friday, reaching $53.29. The company had a trading volume of 1,606,300 shares, compared to its average volume of 1,507,712. Principal Financial Group Inc has a 1 year low of $40.42 and a 1 year high of $61.12. The stock has a 50-day moving average price of $57.52 and a 200-day moving average price of $54.34.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.12. The company had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same period last year, the firm earned $1.35 earnings per share.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Thursday, September 5th will be given a $0.55 dividend. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.54. This represents a $2.20 dividend on an annualized basis and a yield of 4.13%.

A number of brokerages recently commented on PFG. UBS Group lowered their target price on shares of Principal Financial Group from $51.00 to $50.00 and set a “sell” rating for the company in a research note on Tuesday, May 7th. Royal Bank of Canada boosted their price target on shares of Principal Financial Group to $55.00 and gave the company a “market perform” rating in a research report on Monday, April 29th. Barclays set a $66.00 price target on shares of Principal Financial Group and gave the company a “buy” rating in a research report on Monday, August 12th. Zacks Investment Research raised shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research report on Tuesday, July 2nd. Finally, Morgan Stanley boosted their price target on shares of Principal Financial Group from $58.00 to $59.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $57.38.

Principal Financial Group Profile

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company 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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