Advisor Partners LLC grew its holdings in shares of Principal Financial Group Inc (NYSE:PFG) by 69.9% in the 4th quarter, Holdings Channel reports. The firm owned 10,182 shares of the financial services provider’s stock after acquiring an additional 4,190 shares during the period. Advisor Partners LLC’s holdings in Principal Financial Group were worth $450,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. North Star Asset Management Inc. raised its holdings in Principal Financial Group by 2.4% in the 4th quarter. North Star Asset Management Inc. now owns 339,767 shares of the financial services provider’s stock worth $15,007,000 after acquiring an additional 7,870 shares during the last quarter. D.A. Davidson & CO. raised its holdings in Principal Financial Group by 15.1% in the 4th quarter. D.A. Davidson & CO. now owns 40,319 shares of the financial services provider’s stock worth $1,781,000 after acquiring an additional 5,277 shares during the last quarter. Paragon Capital Management Ltd raised its holdings in Principal Financial Group by 57.9% in the 4th quarter. Paragon Capital Management Ltd now owns 6,227 shares of the financial services provider’s stock worth $275,000 after acquiring an additional 2,283 shares during the last quarter. Oppenheimer & Co. Inc. raised its holdings in Principal Financial Group by 150.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 10,254 shares of the financial services provider’s stock worth $453,000 after acquiring an additional 6,166 shares during the last quarter. Finally, Royal London Asset Management Ltd. raised its holdings in Principal Financial Group by 7.6% in the 4th quarter. Royal London Asset Management Ltd. now owns 116,437 shares of the financial services provider’s stock worth $5,072,000 after acquiring an additional 8,196 shares during the last quarter. Hedge funds and other institutional investors own 68.64% of the company’s stock.

A number of equities analysts recently weighed in on the stock. TheStreet upgraded shares of Principal Financial Group from a “c+” rating to a “b-” rating in a report on Monday, January 28th. Zacks Investment Research lowered shares of Principal Financial Group from a “hold” rating to a “sell” rating in a report on Monday, December 31st. Morgan Stanley decreased their price objective on shares of Principal Financial Group from $64.00 to $61.00 and set an “equal weight” rating for the company in a report on Tuesday, November 13th. Royal Bank of Canada lowered shares of Principal Financial Group from an “outperform” rating to a “sector perform” rating and set a $49.00 price objective for the company. in a report on Tuesday, December 11th. Finally, Deutsche Bank assumed coverage on shares of Principal Financial Group in a report on Tuesday, October 16th. They issued a “hold” rating and a $61.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. Principal Financial Group presently has a consensus rating of “Hold” and a consensus target price of $60.91.

Shares of PFG opened at $49.61 on Friday. Principal Financial Group Inc has a 1-year low of $40.42 and a 1-year high of $68.89.

Principal Financial Group (NYSE:PFG) last announced its earnings results on Tuesday, January 29th. The financial services provider reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.18). The business had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same period in the previous year, the company posted $1.19 EPS.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Monday, March 4th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, March 1st. This represents a $2.16 dividend on an annualized basis and a yield of 4.35%.

Principal Financial Group announced that its Board of Directors has authorized a share repurchase plan on Tuesday, November 27th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

In other Principal Financial Group news, insider Amy Christine Friedrich sold 900 shares of the business’s stock in a transaction on Thursday, January 17th. The shares were sold at an average price of $49.00, for a total transaction of $44,100.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel Gelatt bought 25,000 shares of the firm’s stock in a transaction on Monday, November 5th. The shares were bought at an average price of $48.10 per share, with a total value of $1,202,500.00. Following the completion of the purchase, the director now owns 138,694 shares in the company, valued at approximately $6,671,181.40. The disclosure for this purchase can be found here. 1.50% of the stock is currently owned by insiders.

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About Principal Financial Group

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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