Grimes & Company Inc. boosted its position in Principal Financial Group Inc. (NYSE:PFG) by 15.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 146,957 shares of the company’s stock after buying an additional 20,204 shares during the period. Principal Financial Group comprises about 0.8% of Grimes & Company Inc.’s investment portfolio, making the stock its 29th largest position. Grimes & Company Inc.’s holdings in Principal Financial Group were worth $6,041,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Creative Planning boosted its position in shares of Principal Financial Group by 3.8% in the second quarter. Creative Planning now owns 10,009 shares of the company’s stock worth $411,000 after buying an additional 363 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Principal Financial Group by 0.4% in the first quarter. Arizona State Retirement System now owns 103,816 shares of the company’s stock worth $4,096,000 after buying an additional 400 shares during the last quarter. Gulf International Bank UK Ltd boosted its position in shares of Principal Financial Group by 0.5% in the second quarter. Gulf International Bank UK Ltd now owns 85,426 shares of the company’s stock worth $3,511,000 after buying an additional 400 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Principal Financial Group by 6.1% in the second quarter. Daiwa Securities Group Inc. now owns 7,000 shares of the company’s stock worth $288,000 after buying an additional 400 shares during the last quarter. Finally, DNB Asset Management AS boosted its position in shares of Principal Financial Group by 1.9% in the second quarter. DNB Asset Management AS now owns 26,514 shares of the company’s stock worth $1,090,000 after buying an additional 500 shares during the last quarter. Institutional investors own 67.59% of the company’s stock.

Principal Financial Group Inc. (NYSE:PFG) traded up 0.43% during midday trading on Tuesday, reaching $49.03. 1,415,325 shares of the company traded hands. The stock has a market capitalization of $14.10 billion, a P/E ratio of 11.66 and a beta of 1.65. Principal Financial Group Inc. has a 1-year low of $33.09 and a 1-year high of $52.21. The firm has a 50-day moving average of $47.92 and a 200-day moving average of $43.52.

Principal Financial Group (NYSE:PFG) last released its earnings results on Thursday, July 28th. The company reported $1.15 EPS for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.09. Principal Financial Group had a return on equity of 12.52% and a net margin of 10.20%. During the same quarter in the prior year, the business earned $1.09 earnings per share. On average, analysts predict that Principal Financial Group Inc. will post $4.36 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 2nd will be issued a dividend of $0.41 per share. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.39. The ex-dividend date is Wednesday, August 31st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.34%. Principal Financial Group’s payout ratio is 38.86%.

A number of brokerages recently issued reports on PFG. Bank of America Corp. cut shares of Principal Financial Group from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 29th. Evercore ISI began coverage on Principal Financial Group in a research report on Wednesday, July 6th. They issued a “buy” rating and a $48.00 target price for the company. Zacks Investment Research raised Principal Financial Group from a “sell” rating to a “hold” rating and set a $50.00 target price for the company in a research report on Monday, July 18th. Deutsche Bank AG set a $48.00 target price on Principal Financial Group and gave the stock a “hold” rating in a research report on Wednesday, August 3rd. Finally, Barclays PLC boosted their target price on Principal Financial Group from $41.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Friday, July 29th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $48.14.

In related news, SVP Gregory Bernard Elming sold 46,770 shares of Principal Financial Group stock in a transaction dated Wednesday, June 22nd. The stock was sold at an average price of $43.73, for a total transaction of $2,045,252.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.78% of the company’s stock.

Principal Financial Group Company 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 services. The Company’s segments include Retirement and Income Solutions; Principal Global Investors, Principal International, and U.S.

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