Great West Life Assurance Co. Can Trims Holdings in Principal Financial Group Inc (PFG)

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Great West Life Assurance Co. Can reduced its stake in Principal Financial Group Inc (NYSE:PFG) by 0.4% during the second quarter, Holdings Channel reports. The fund owned 237,061 shares of the financial services provider’s stock after selling 934 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Principal Financial Group were worth $12,552,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Mercantile Trust Co. increased its holdings in shares of Principal Financial Group by 101.1% in the 2nd quarter. First Mercantile Trust Co. now owns 1,910 shares of the financial services provider’s stock worth $102,000 after buying an additional 960 shares during the last quarter. Creative Planning increased its holdings in shares of Principal Financial Group by 9.5% in the 2nd quarter. Creative Planning now owns 12,605 shares of the financial services provider’s stock worth $667,000 after buying an additional 1,098 shares during the last quarter. Cornercap Investment Counsel Inc. increased its holdings in shares of Principal Financial Group by 2.0% in the 1st quarter. Cornercap Investment Counsel Inc. now owns 58,460 shares of the financial services provider’s stock worth $3,561,000 after buying an additional 1,135 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Principal Financial Group by 0.3% in the 1st quarter. Asset Management One Co. Ltd. now owns 442,209 shares of the financial services provider’s stock worth $26,935,000 after buying an additional 1,140 shares during the last quarter. Finally, WINTON GROUP Ltd increased its holdings in shares of Principal Financial Group by 15.8% in the 1st quarter. WINTON GROUP Ltd now owns 8,377 shares of the financial services provider’s stock worth $510,000 after buying an additional 1,141 shares during the last quarter. Institutional investors own 68.64% of the company’s stock.

A number of analysts have recently weighed in on the stock. Wells Fargo & Co set a $66.00 target price on shares of Principal Financial Group and gave the stock a “hold” rating in a report on Wednesday, May 23rd. Zacks Investment Research upgraded shares of Principal Financial Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 1st. Credit Suisse Group reduced their target price on shares of Principal Financial Group from $62.00 to $56.00 and set a “neutral” rating on the stock in a report on Friday, August 17th. Morgan Stanley reduced their target price on shares of Principal Financial Group from $70.00 to $69.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 11th. Finally, Barclays reduced their target price on shares of Principal Financial Group from $72.00 to $68.00 and set an “overweight” rating on the stock in a report on Monday, July 9th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $69.64.

PFG stock opened at $56.00 on Thursday. Principal Financial Group Inc has a 12 month low of $52.31 and a 12 month 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 results 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). Principal Financial Group had a return on equity of 13.55% and a net margin of 12.35%. The firm had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.58 billion. During the same period in the prior year, the firm 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 company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Thursday, September 6th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Wednesday, September 5th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.52. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.79%.

In related news, insider James P. Mccaughan sold 20,000 shares of Principal Financial Group stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $55.42, for a total transaction of $1,108,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have sold 60,000 shares of company stock valued at $3,271,600. 1.50% of the stock is owned by corporate insiders.

Principal Financial Group Company Profile

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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Want to see what other hedge funds are holding PFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Principal Financial Group Inc (NYSE:PFG).

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

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