Arcadia Investment Management Corp MI raised its stake in Principal Financial Group Inc (NYSE:PFG) by 1,848.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,275 shares of the financial services provider’s stock after buying an additional 5,953 shares during the period. Arcadia Investment Management Corp MI’s holdings in Principal Financial Group were worth $402,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in PFG. CENTRAL TRUST Co increased its stake in shares of Principal Financial Group by 2.4% in the first quarter. CENTRAL TRUST Co now owns 2,176 shares of the financial services provider’s stock valued at $137,000 after buying an additional 52 shares during the last quarter. Jacobi Capital Management LLC increased its stake in shares of Principal Financial Group by 291.1% in the first quarter. Jacobi Capital Management LLC now owns 2,691 shares of the financial services provider’s stock valued at $167,000 after buying an additional 2,003 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of Principal Financial Group during the first quarter valued at approximately $202,000. Eagle Global Advisors LLC purchased a new stake in shares of Principal Financial Group during the second quarter valued at approximately $207,000. Finally, Blair William & Co. IL purchased a new stake in shares of Principal Financial Group during the first quarter valued at approximately $205,000. Hedge funds and other institutional investors own 70.10% of the company’s stock.

Principal Financial Group Inc (PFG) opened at 65.00 on Wednesday. The company’s 50-day moving average is $65.71 and its 200 day moving average is $63.52. The stock has a market capitalization of $18.78 billion, a PE ratio of 14.77 and a beta of 1.65. Principal Financial Group Inc has a 1-year low of $46.82 and a 1-year high of $67.73.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.09. The company had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.16 billion. Principal Financial Group had a net margin of 10.15% and a return on equity of 13.57%. During the same period in the prior year, the business posted $1.15 earnings per share. Equities analysts predict that Principal Financial Group Inc will post $5.18 earnings per share for the current year.

Principal Financial Group announced that its board has initiated a share buyback program on Wednesday, May 17th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the financial services provider to reacquire up to 1.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.46. This represents a $1.88 dividend on an annualized basis and a yield of 2.89%. Principal Financial Group’s dividend payout ratio is currently 41.82%.

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Several brokerages have recently commented on PFG. Keefe, Bruyette & Woods restated a “hold” rating and set a $68.00 price objective on shares of Principal Financial Group in a research report on Thursday, August 3rd. Zacks Investment Research upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Tuesday, August 1st. Barclays PLC raised their price objective on shares of Principal Financial Group from $61.00 to $63.00 and gave the company an “equal weight” rating in a research report on Friday, August 11th. BidaskClub downgraded shares of Principal Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Finally, Wells Fargo & Company restated a “buy” rating on shares of Principal Financial Group in a research report on Thursday, June 29th. Four analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $61.67.

In other news, insider James P. Mccaughan sold 65,818 shares of the company’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $63.53, for a total transaction of $4,181,417.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Gregory Bernard Elming sold 30,707 shares of the company’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $64.20, for a total transaction of $1,971,389.40. The disclosure for this sale can be found here. Insiders have sold 345,538 shares of company stock valued at $22,435,450 over the last 90 days. 1.50% of the stock is currently owned by company insiders.

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. Its segments include Retirement and Income Solutions; Principal Global Investors, Principal International; U.S. Insurance Solutions, and Corporate.

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

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