Los Angeles Capital Management & Equity Research Inc. reduced its position in shares of Principal Financial Group Inc (NYSE:PFG) by 57.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 72,513 shares of the financial services provider’s stock after selling 99,595 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Principal Financial Group were worth $4,665,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Sun Life Financial INC increased its position in Principal Financial Group by 21,822.2% during the second quarter. Sun Life Financial INC now owns 1,973 shares of the financial services provider’s stock worth $126,000 after purchasing an additional 1,964 shares during the last quarter. Eagle Global Advisors LLC acquired a new stake in Principal Financial Group during the second quarter worth about $207,000. Koch Industries Inc. acquired a new stake in Principal Financial Group during the second quarter worth about $210,000. Honkamp Krueger Financial Services Inc. acquired a new stake in Principal Financial Group during the third quarter worth about $226,000. Finally, Foster & Motley Inc. increased its position in shares of Principal Financial Group by 9.3% during the second quarter. Foster & Motley Inc. now owns 4,014 shares of the financial services provider’s stock valued at $257,000 after acquiring an additional 340 shares during the last quarter. Hedge funds and other institutional investors own 68.13% of the company’s stock.

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company set a $76.00 price target on shares of Principal Financial Group and gave the company a “buy” rating in a research report on Wednesday, October 18th. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Principal Financial Group in a research report on Wednesday, October 18th. They set a “neutral” rating and a $70.00 price target for the company. BidaskClub cut shares of Principal Financial Group from a “buy” rating to a “hold” rating in a research 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 for the company in a research report on Tuesday, August 1st. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $68.00 price target on shares of Principal Financial Group in a research report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $67.40.

Principal Financial Group Inc (PFG) opened at $68.82 on Tuesday. 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 Inc has a 12 month low of $56.12 and a 12 month high of $69.95. The company has a market cap of $19,880.00, a P/E ratio of 13.38, a PEG ratio of 1.32 and a beta of 1.71.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Thursday, October 26th. The financial services provider reported $1.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.30 by ($0.02). Principal Financial Group had a net margin of 12.35% and a return on equity of 13.55%. The business had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the previous year, the business posted $1.15 EPS. sell-side analysts expect that Principal Financial Group Inc will post 5.22 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Monday, December 4th will be paid a $0.49 dividend. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Friday, December 1st. This represents a $1.96 annualized dividend and a dividend yield of 2.85%. Principal Financial Group’s dividend payout ratio (DPR) is presently 30.82%.

In other news, Chairman Daniel Joseph Houston sold 38,097 shares of the firm’s stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $68.00, for a total value of $2,590,596.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James P. Mccaughan sold 8,953 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $62.12, for a total transaction of $556,160.36. The disclosure for this sale can be found here. In the last three months, insiders sold 143,537 shares of company stock valued at $9,313,955. Insiders own 1.50% of the company’s stock.

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Principal Financial Group 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.

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

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