TIAA CREF Investment Management LLC cut its stake in shares of Principal Financial Group Inc (NYSE:PFG) by 5.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 627,998 shares of the financial services provider’s stock after selling 35,679 shares during the period. TIAA CREF Investment Management LLC’s holdings in Principal Financial Group were worth $44,312,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Resources Investment Advisors Inc. lifted its stake in Principal Financial Group by 268.6% during the 4th quarter. Resources Investment Advisors Inc. now owns 2,997 shares of the financial services provider’s stock valued at $155,000 after acquiring an additional 2,184 shares in the last quarter. Avestar Capital LLC purchased a new stake in shares of Principal Financial Group during the 4th quarter valued at $169,000. Tower Research Capital LLC TRC purchased a new stake in shares of Principal Financial Group during the 4th quarter valued at $174,000. Acadian Asset Management LLC increased its position in shares of Principal Financial Group by 215.0% during the 4th quarter. Acadian Asset Management LLC now owns 2,611 shares of the financial services provider’s stock valued at $184,000 after purchasing an additional 1,782 shares during the last quarter. Finally, Synovus Financial Corp purchased a new stake in shares of Principal Financial Group during the 4th quarter valued at $214,000. Institutional investors and hedge funds own 68.64% of the company’s stock.

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In related news, Chairman Daniel Joseph Houston sold 69,894 shares of Principal Financial Group stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $72.01, for a total value of $5,033,066.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Timothy Mark Dunbar sold 16,400 shares of Principal Financial Group stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $70.23, for a total value of $1,151,772.00. The disclosure for this sale can be found here. In the last three months, insiders sold 158,122 shares of company stock valued at $11,126,142. 1.50% of the stock is currently owned by insiders.

PFG has been the subject of several research analyst reports. Wells Fargo set a $79.00 target price on Principal Financial Group and gave the company a “buy” rating in a research report on Thursday, December 7th. Goldman Sachs raised Principal Financial Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 9th. Zacks Investment Research raised Principal Financial Group from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a research report on Thursday, January 4th. Morgan Stanley decreased their target price on Principal Financial Group from $80.00 to $79.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 30th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $76.00 target price on shares of Principal Financial Group in a research report on Wednesday, January 31st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $73.10.

Shares of Principal Financial Group Inc (NYSE PFG) opened at $59.93 on Friday. Principal Financial Group Inc has a twelve month low of $59.25 and a twelve month high of $75.58. The firm has a market capitalization of $18,160.00, a PE ratio of 10.24, a P/E/G ratio of 1.35 and a beta of 1.60. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.26.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Monday, January 29th. The financial services provider reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.18). Principal Financial Group had a return on equity of 13.55% and a net margin of 12.35%. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.32 billion. During the same period last year, the business posted $1.27 EPS. analysts forecast that Principal Financial Group Inc will post 5.22 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Monday, March 5th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, March 2nd. This represents a $2.04 annualized dividend and a yield of 3.40%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.49. Principal Financial Group’s dividend payout ratio (DPR) is 34.87%.

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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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