Sumitomo Mitsui Asset Management Company LTD reduced its stake in shares of Principal Financial Group Inc (NYSE:PFG) by 5.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 21,771 shares of the financial services provider’s stock after selling 1,322 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Principal Financial Group were worth $1,400,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. First Business Financial Services Inc. lifted its stake in shares of Principal Financial Group by 12.5% during the 3rd quarter. First Business Financial Services Inc. now owns 9,250 shares of the financial services provider’s stock valued at $595,000 after buying an additional 1,025 shares in the last quarter. First Quadrant L P CA purchased a new stake in shares of Principal Financial Group during the 3rd quarter valued at $6,135,000. North Star Asset Management Inc. raised its position in shares of Principal Financial Group by 2.3% during the 3rd quarter. North Star Asset Management Inc. now owns 330,344 shares of the financial services provider’s stock valued at $20,848,000 after buying an additional 7,545 shares in the last quarter. Aperio Group LLC raised its position in shares of Principal Financial Group by 3.1% during the 3rd quarter. Aperio Group LLC now owns 202,152 shares of the financial services provider’s stock valued at $13,006,000 after buying an additional 6,107 shares in the last quarter. Finally, Honkamp Krueger Financial Services Inc. purchased a new stake in shares of Principal Financial Group during the 3rd quarter valued at $226,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

In other Principal Financial Group news, insider James P. Mccaughan sold 60,814 shares of Principal Financial Group stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $62.10, for a total value of $3,776,549.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nora Mary Everett sold 12,398 shares of Principal Financial Group stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $68.00, for a total transaction of $843,064.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 143,537 shares of company stock valued at $9,313,955. 1.50% of the stock is currently owned by corporate insiders.

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PFG has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Principal Financial Group from a “sell” rating to a “hold” rating and set a $73.00 price target on the stock in a report on Monday, October 2nd. Wells Fargo & Company set a $76.00 target price on shares of Principal Financial Group and gave the company a “buy” rating in a research note on Wednesday, October 18th. Goldman Sachs Group, Inc. (The) started coverage on shares of Principal Financial Group in a research note on Wednesday, October 18th. They set a “neutral” rating and a $70.00 target price on the stock. Morgan Stanley lifted their target price on shares of Principal Financial Group from $67.00 to $72.00 and gave the company an “equal weight” rating in a research note on Thursday, October 5th. Finally, Barclays PLC lifted their target price on shares of Principal Financial Group from $61.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday, August 11th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $67.40.

Principal Financial Group Inc (NYSE:PFG) opened at $68.32 on Monday. Principal Financial Group Inc has a 12-month low of $52.67 and a 12-month high of $69.40. The stock has a market cap of $19,727.72, a PE ratio of 13.32, a P/E/G ratio of 1.42 and a beta of 1.71. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.10 and a current ratio of 0.10.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Thursday, October 26th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $3.12 billion. During the same period last year, the business earned $1.15 earnings per share. equities analysts anticipate that Principal Financial Group Inc will post 5.22 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Monday, December 4th will be given a dividend of $0.49 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.47. This represents a $1.96 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Friday, December 1st. Principal Financial Group’s dividend payout ratio (DPR) is 30.82%.

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.

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

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