Cornerstone Investment Partners LLC Has $1.12 Million Stake in Principal Financial Group Inc (NYSE:PFG)

Cornerstone Investment Partners LLC reduced its position in Principal Financial Group Inc (NYSE:PFG) by 1.6% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 17,446 shares of the financial services provider’s stock after selling 276 shares during the period. Cornerstone Investment Partners LLC’s holdings in Principal Financial Group were worth $1,118,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. CENTRAL TRUST Co boosted its position in shares of Principal Financial Group by 2.4% in the first quarter. CENTRAL TRUST Co now owns 2,176 shares of the financial services provider’s stock worth $137,000 after buying an additional 52 shares during the last quarter. Jacobi Capital Management LLC boosted its position in shares of Principal Financial Group by 291.1% in the first quarter. Jacobi Capital Management LLC now owns 2,691 shares of the financial services provider’s stock worth $167,000 after buying an additional 2,003 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new position in shares of Principal Financial Group during the first quarter worth approximately $202,000. Blair William & Co. IL acquired a new position in shares of Principal Financial Group during the first quarter worth approximately $205,000. Finally, Washington Trust Bank boosted its position in shares of Principal Financial Group by 29.3% in the first quarter. Washington Trust Bank now owns 3,336 shares of the financial services provider’s stock worth $211,000 after buying an additional 755 shares during the last quarter. Institutional investors own 70.53% of the company’s stock.

Principal Financial Group Inc (NYSE PFG) opened at 65.10 on Wednesday. The company’s 50 day moving average is $63.41 and its 200 day moving average is $61.84. Principal Financial Group Inc has a 12 month low of $40.94 and a 12 month high of $66.12. The stock has a market cap of $18.76 billion, a PE ratio of 14.67 and a beta of 1.65.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings results on Thursday, April 27th. The financial services provider reported $1.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.08. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.16 billion. Principal Financial Group had a net margin of 10.37% and a return on equity of 13.35%. During the same quarter last year, the firm posted $0.97 EPS. On average, analysts anticipate that Principal Financial Group Inc will post $5.05 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Monday, June 5th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.82%. The ex-dividend date was Thursday, June 1st. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.45. Principal Financial Group’s dividend payout ratio (DPR) is currently 41.44%.

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PFG has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Monday, April 10th. Wells Fargo & Company reiterated a “buy” rating on shares of Principal Financial Group in a research report on Thursday, June 29th. Royal Bank Of Canada reiterated a “buy” rating and issued a $73.00 target price on shares of Principal Financial Group in a research report on Wednesday. BidaskClub upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $64.00 price objective on shares of Principal Financial Group in a research report on Tuesday, March 21st. Three research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. Principal Financial Group has an average rating of “Hold” and a consensus target price of $59.70.

In other Principal Financial Group news, insider Luis E. Valdes sold 10,000 shares of the firm’s stock in a transaction dated Thursday, April 13th. The shares were sold at an average price of $62.00, for a total transaction of $620,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Karen E. Shaff sold 30,500 shares of the firm’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $65.00, for a total transaction of $1,982,500.00. The disclosure for this sale can be found here. Insiders sold a total of 415,712 shares of company stock worth $26,687,155 in the last ninety days. 1.50% of the stock is currently owned by insiders.

Principal Financial Group Company 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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