Principal Financial Group Inc (NYSE:PFG) Shares Bought by Institutional & Family Asset Management LLC

Institutional & Family Asset Management LLC increased its stake in shares of Principal Financial Group Inc (NYSE:PFG) by 20.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,588 shares of the financial services provider’s stock after purchasing an additional 600 shares during the period. Institutional & Family Asset Management LLC’s holdings in Principal Financial Group were worth $180,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in shares of Principal Financial Group by 24.0% in the 1st quarter. BlackRock Inc. now owns 23,469,104 shares of the financial services provider’s stock valued at $1,177,913,000 after purchasing an additional 4,548,474 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Principal Financial Group by 16.6% in the 4th quarter. Bank of New York Mellon Corp now owns 8,137,409 shares of the financial services provider’s stock valued at $359,430,000 after buying an additional 1,155,996 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Principal Financial Group by 15.3% in the 4th quarter. Geode Capital Management LLC now owns 4,149,598 shares of the financial services provider’s stock valued at $183,017,000 after buying an additional 550,835 shares during the last quarter. FMR LLC grew its position in shares of Principal Financial Group by 65.1% in the 4th quarter. FMR LLC now owns 4,108,866 shares of the financial services provider’s stock valued at $181,489,000 after buying an additional 1,619,568 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Principal Financial Group by 7.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,963,240 shares of the financial services provider’s stock valued at $175,047,000 after buying an additional 264,669 shares during the last quarter. 68.64% of the stock is owned by hedge funds and other institutional investors.

PFG traded up $1.12 during midday trading on Friday, reaching $57.92. 1,890,484 shares of the company’s stock were exchanged, compared to its average volume of 1,569,743. The company’s 50-day moving average price is $55.20. Principal Financial Group Inc has a 1-year low of $40.42 and a 1-year high of $61.12.

Principal Financial Group (NYSE:PFG) last announced its earnings results on Thursday, April 25th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.11. The business had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same quarter in the previous year, the firm posted $1.40 EPS.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 3rd were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend was Friday, May 31st.

A number of research analysts recently commented on the stock. Zacks Investment Research raised shares of Principal Financial Group from a “sell” rating to a “hold” rating and set a $59.00 target price on the stock in a research report on Wednesday, April 3rd. UBS Group raised their price objective on shares of Principal Financial Group from $45.00 to $48.00 and gave the stock a “sell” rating in a research report on Tuesday, April 9th. Finally, Royal Bank of Canada lifted their target price on shares of Principal Financial Group to $55.00 and gave the company a “market perform” rating in a report on Monday, April 29th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $57.50.

In other Principal Financial Group news, insider Luis E. Valdes sold 47,661 shares of Principal Financial Group stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $57.67, for a total transaction of $2,748,609.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Julia M. Lawler sold 1,000 shares of Principal Financial Group stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $50.74, for a total transaction of $50,740.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,661 shares of company stock valued at $2,908,100. 1.50% of the stock is currently owned by company insiders.

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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