Heartland Advisors Inc. cut its position in shares of Principal Financial Group Inc (NYSE:PFG) by 34.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 90,422 shares of the financial services provider’s stock after selling 47,646 shares during the period. Heartland Advisors Inc.’s holdings in Principal Financial Group were worth $5,793,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PFG. Henderson Group PLC boosted its stake in shares of Principal Financial Group by 1.8% in the first quarter. Henderson Group PLC now owns 44,709 shares of the financial services provider’s stock worth $2,822,000 after buying an additional 793 shares during the last quarter. Girard Partners LTD. boosted its stake in shares of Principal Financial Group by 37.0% in the first quarter. Girard Partners LTD. now owns 7,054 shares of the financial services provider’s stock worth $445,000 after buying an additional 1,906 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Principal Financial Group by 123.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 21,404 shares of the financial services provider’s stock worth $1,406,000 after buying an additional 11,810 shares during the last quarter. Flinton Capital Management LLC boosted its stake in shares of Principal Financial Group by 125.9% in the first quarter. Flinton Capital Management LLC now owns 67,760 shares of the financial services provider’s stock worth $4,276,000 after buying an additional 37,760 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Principal Financial Group by 5.6% in the first quarter. First Trust Advisors LP now owns 458,077 shares of the financial services provider’s stock worth $28,909,000 after buying an additional 24,247 shares during the last quarter. 68.18% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Inc (PFG) opened at 63.31 on Friday. The stock’s 50 day moving average is $65.10 and its 200-day moving average is $63.82. Principal Financial Group Inc has a 52 week low of $47.56 and a 52 week high of $67.73. The firm has a market capitalization of $18.29 billion, a price-to-earnings ratio of 14.39 and a beta of 1.66.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.09. The firm had revenue of $3.27 billion for the quarter, compared to the consensus estimate 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 last year, the firm posted $1.15 EPS. On average, equities research analysts expect that Principal Financial Group Inc will post $5.18 EPS for the current year.

Principal Financial Group announced that its board has approved a share repurchase program on Wednesday, May 17th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 1.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

The business also recently declared 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. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.97%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Wednesday, August 30th. Principal Financial Group’s payout ratio is 42.73%.

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A number of equities research analysts have recently commented on the stock. BidaskClub cut shares of Principal Financial Group from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Zacks Investment Research upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Tuesday, August 1st. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $68.00 price target on shares of Principal Financial Group in a research note on Thursday, August 3rd. Royal Bank Of Canada reiterated a “buy” rating and set a $73.00 price target on shares of Principal Financial Group in a research note on Wednesday, July 12th. Finally, Wells Fargo & Company reiterated a “buy” rating on shares of Principal Financial Group in a research note on Thursday, June 29th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $61.67.

In other Principal Financial Group news, insider James P. Mccaughan sold 60,817 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $66.98, for a total transaction of $4,073,522.66. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Nora Mary Everett sold 14,630 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $64.60, for a total transaction of $945,098.00. The disclosure for this sale can be found here. Insiders have sold a total of 336,838 shares of company stock worth $21,882,826 over the last 90 days. 1.50% of the stock is owned by 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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