Bp Plc reduced its stake in Principal Financial Group Inc (NYSE:PFG) by 13.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,000 shares of the financial services provider’s stock after selling 5,000 shares during the period. Bp Plc’s holdings in Principal Financial Group were worth $1,986,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CENTRAL TRUST Co boosted its position in 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 boosted its position in 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. acquired a new position in Principal Financial Group during the first quarter valued at about $202,000. Eagle Global Advisors LLC acquired a new position in Principal Financial Group during the second quarter valued at about $207,000. Finally, Blair William & Co. IL acquired a new position in Principal Financial Group during the first quarter valued at about $205,000. Hedge funds and other institutional investors own 70.45% of the company’s stock.

Principal Financial Group Inc (NYSE PFG) opened at 64.43 on Friday. The stock has a market cap of $18.62 billion, a PE ratio of 14.64 and a beta of 1.65. The stock has a 50 day moving average price of $65.53 and a 200-day moving average price of $63.31. Principal Financial Group Inc has a 12 month low of $46.40 and a 12 month high of $67.73.

Principal Financial Group (NYSE:PFG) last announced 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 business had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.16 billion. Principal Financial Group had a return on equity of 13.57% and a net margin of 10.15%. During the same quarter in the prior year, the firm posted $1.15 earnings per share. On average, analysts expect that Principal Financial Group Inc will post $5.18 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be issued a $0.47 dividend. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.88 annualized dividend and a dividend yield of 2.92%. Principal Financial Group’s dividend payout ratio is 41.82%.

Principal Financial Group announced that its Board of Directors has initiated 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 shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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Several research analysts have issued reports on the company. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $68.00 price objective on shares of Principal Financial Group in a research report on Thursday, August 3rd. Zacks Investment Research upgraded Principal Financial Group from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Tuesday, August 1st. BidaskClub cut Principal Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Wells Fargo & Company reiterated a “buy” rating on shares of Principal Financial Group in a research report on Thursday, June 29th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $73.00 price objective on shares of Principal Financial Group in a research report on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $61.22.

In other news, insider Luis E. Valdes sold 10,375 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $64.00, for a total value of $664,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nora Mary Everett sold 8,700 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $63.52, for a total value of $552,624.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 355,913 shares of company stock valued at $23,099,450. Insiders own 1.50% 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. 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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