BB&T Securities LLC grew its stake in Principal Financial Group Inc (NYSE:PFG) by 21.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,390 shares of the financial services provider’s stock after purchasing an additional 1,112 shares during the period. BB&T Securities LLC’s holdings in Principal Financial Group were worth $338,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Assetmark Inc. grew its position in Principal Financial Group by 2.9% in the 2nd quarter. Assetmark Inc. now owns 188,973 shares of the financial services provider’s stock worth $10,006,000 after purchasing an additional 5,267 shares during the last quarter. Swiss National Bank grew its position in Principal Financial Group by 3.1% in the 2nd quarter. Swiss National Bank now owns 955,363 shares of the financial services provider’s stock worth $50,577,000 after purchasing an additional 29,000 shares during the last quarter. Bank of Montreal Can grew its position in Principal Financial Group by 32.0% in the 2nd quarter. Bank of Montreal Can now owns 769,465 shares of the financial services provider’s stock worth $40,743,000 after purchasing an additional 186,661 shares during the last quarter. Signition LP acquired a new stake in Principal Financial Group in the 2nd quarter worth $323,000. Finally, Aviva PLC grew its position in Principal Financial Group by 4.1% in the 2nd quarter. Aviva PLC now owns 141,357 shares of the financial services provider’s stock worth $7,485,000 after purchasing an additional 5,555 shares during the last quarter. Institutional investors own 68.64% of the company’s stock.

Several research firms have issued reports on PFG. Credit Suisse Group decreased their price target on shares of Principal Financial Group from $62.00 to $56.00 and set a “neutral” rating on the stock in a research report on Friday, August 17th. Barclays decreased their price target on shares of Principal Financial Group from $72.00 to $68.00 and set an “overweight” rating on the stock in a research report on Monday, July 9th. Zacks Investment Research upgraded shares of Principal Financial Group from a “sell” rating to a “hold” rating in a research report on Wednesday, June 6th. Finally, Morgan Stanley decreased their price target on shares of Principal Financial Group from $70.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 11th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Principal Financial Group currently has an average rating of “Hold” and a consensus price target of $69.20.

In other news, insider James P. Mccaughan sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $55.44, for a total transaction of $1,108,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 60,000 shares of company stock valued at $3,271,600 over the last ninety days. 1.50% of the stock is owned by insiders.

NYSE:PFG opened at $58.52 on Tuesday. Principal Financial Group Inc has a 52 week low of $52.31 and a 52 week high of $75.58. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.10 and a quick ratio of 0.10.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Thursday, July 26th. The financial services provider reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). The business had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.58 billion. Principal Financial Group had a return on equity of 13.55% and a net margin of 12.35%. During the same period in the previous year, the business posted $1.31 earnings per share. sell-side analysts expect that Principal Financial Group Inc will post 5.22 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Thursday, September 6th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.62%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Wednesday, September 5th.

About Principal Financial Group

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. It operates through Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.

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

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