Oakbrook Investments LLC cut its position in shares of Principal Financial Group Inc (NYSE:PFG) by 50.3% in the 1st quarter, Holdings Channel reports. The fund owned 13,510 shares of the financial services provider’s stock after selling 13,690 shares during the period. Oakbrook Investments LLC’s holdings in Principal Financial Group were worth $678,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Bank of New York Mellon Corp increased its holdings in shares of Principal Financial Group by 1,897,023.1% in the third quarter. Bank of New York Mellon Corp now owns 6,981,413 shares of the financial services provider’s stock valued at $409,041,000 after purchasing an additional 6,981,045 shares during the period. LPL Financial LLC increased its holdings in shares of Principal Financial Group by 34.1% in the third quarter. LPL Financial LLC now owns 32,363 shares of the financial services provider’s stock valued at $1,896,000 after purchasing an additional 8,237 shares during the period. Jane Street Group LLC acquired a new position in shares of Principal Financial Group in the third quarter valued at approximately $857,000. The Manufacturers Life Insurance Company increased its holdings in shares of Principal Financial Group by 8.2% in the third quarter. The Manufacturers Life Insurance Company now owns 271,170 shares of the financial services provider’s stock valued at $15,888,000 after purchasing an additional 20,557 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in shares of Principal Financial Group by 14.3% in the third quarter. Pacer Advisors Inc. now owns 13,736 shares of the financial services provider’s stock valued at $805,000 after buying an additional 1,718 shares in the last quarter. Institutional investors own 68.64% of the company’s stock.

Principal Financial Group stock opened at $55.22 on Monday. Principal Financial Group Inc has a 1-year low of $40.42 and a 1-year high of $62.07.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings results on Tuesday, January 29th. The financial services provider reported $1.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.29 by ($0.18). The company had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the previous year, the business posted $1.19 EPS.

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 4th were given a dividend of $0.54 per share. The ex-dividend date was Friday, March 1st. This represents a $2.16 dividend on an annualized basis and a yield of 3.91%.

A number of research firms recently weighed in on PFG. Zacks Investment Research upgraded Principal Financial Group from a “sell” rating to a “hold” rating and set a $59.00 price target on the stock in a research note on Wednesday, April 3rd. UBS Group lifted their price target on Principal Financial Group from $45.00 to $48.00 and gave the company a “sell” rating in a research note on Tuesday, April 9th. TheStreet upgraded Principal Financial Group from a “c+” rating to a “b-” rating in a research note on Monday, January 28th. Finally, Goldman Sachs Group downgraded Principal Financial Group from a “buy” rating to a “neutral” rating and set a $50.00 price target on the stock. in a research note on Tuesday, January 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $57.56.

In other Principal Financial Group news, EVP Julia M. Lawler sold 1,000 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $50.74, for a total transaction of $50,740.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 3,000 shares of company stock worth $153,290. 1.50% of the stock is owned by company insiders.

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Principal Financial Group Profile

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

See Also: Compound Annual Growth Rate (CAGR)

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

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