Wedge Capital Management L L P NC increased its holdings in shares of Principal Financial Group Inc (NYSE:PFG) by 0.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 501,031 shares of the financial services provider’s stock after acquiring an additional 3,193 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.17% of Principal Financial Group worth $32,236,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sun Life Financial INC raised its stake 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 acquiring an additional 1,964 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in Principal Financial Group during the first quarter worth about $202,000. Eagle Global Advisors LLC acquired a new stake in Principal Financial Group during the second quarter worth about $207,000. 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. raised its stake in 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 worth $257,000 after acquiring an additional 340 shares during the period. Hedge funds and other institutional investors own 68.25% of the company’s stock.

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PFG has been the topic of several research reports. BidaskClub upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Royal Bank Of Canada reiterated a “buy” rating and set a $73.00 price objective on shares of Principal Financial Group in a research note on Wednesday, July 12th. Zacks Investment Research upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Tuesday, August 1st. Keefe, Bruyette & Woods restated a “hold” rating and issued a $68.00 target price on shares of Principal Financial Group in a research report on Thursday, August 3rd. Finally, Barclays PLC upped their target price on shares of Principal Financial Group from $61.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, August 11th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. Principal Financial Group has a consensus rating of “Hold” and an average target price of $67.40.

In other news, insider Nora Mary Everett sold 12,398 shares of Principal Financial Group stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $68.00, for a total transaction of $843,064.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Karen E. Shaff sold 17,082 shares of Principal Financial Group stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $68.00, for a total value of $1,161,576.00. The disclosure for this sale can be found here. Insiders have sold a total of 143,537 shares of company stock worth $9,313,955 over the last quarter. Company insiders own 1.50% of the company’s stock.

Principal Financial Group Inc (NYSE:PFG) traded down $0.57 during midday trading on Friday, reaching $68.32. 1,233,564 shares of the company’s stock traded hands, compared to its average volume of 1,001,683. The company has a current ratio of 0.10, a quick ratio of 0.08 and a debt-to-equity ratio of 0.26. Principal Financial Group Inc has a 1 year low of $52.67 and a 1 year high of $69.40. The company has a market cap of $19,727.74, a PE ratio of 13.32, a price-to-earnings-growth ratio of 1.42 and a beta of 1.71.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, October 26th. The financial services provider reported $1.28 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.02). The company had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.12 billion. Principal Financial Group had a net margin of 12.35% and a return on equity of 13.55%. During the same quarter last year, the business posted $1.15 earnings per share. equities research analysts anticipate that Principal Financial Group Inc will post 5.22 earnings per share for the current year.

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

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

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