Davidson Investment Advisors Sells 5,784 Shares of Principal Financial Group Inc (PFG)

Davidson Investment Advisors reduced its position in Principal Financial Group Inc (NYSE:PFG) by 5.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 107,396 shares of the financial services provider’s stock after selling 5,784 shares during the quarter. Davidson Investment Advisors’ holdings in Principal Financial Group were worth $6,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in PFG. Canada Pension Plan Investment Board increased its position in Principal Financial Group by 172.4% in the first quarter. Canada Pension Plan Investment Board now owns 33,491 shares of the financial services provider’s stock worth $2,114,000 after buying an additional 21,197 shares during the last quarter. Suntrust Banks Inc. increased its position in Principal Financial Group by 20.3% in the first quarter. Suntrust Banks Inc. now owns 5,537 shares of the financial services provider’s stock worth $349,000 after buying an additional 933 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in Principal Financial Group by 10.0% in the first quarter. UBS Asset Management Americas Inc. now owns 869,621 shares of the financial services provider’s stock worth $54,882,000 after buying an additional 79,107 shares during the last quarter. Sei Investments Co. increased its position in Principal Financial Group by 96.8% in the first quarter. Sei Investments Co. now owns 66,639 shares of the financial services provider’s stock worth $4,205,000 after buying an additional 32,774 shares during the last quarter. Finally, TD Asset Management Inc. increased its position in Principal Financial Group by 4.1% in the first quarter. TD Asset Management Inc. now owns 122,997 shares of the financial services provider’s stock worth $7,762,000 after buying an additional 4,850 shares during the last quarter. 68.20% of the stock is owned by institutional investors and hedge funds.

A number of analysts have issued reports on PFG shares. Zacks Investment Research downgraded Principal Financial Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Wells Fargo & Company reiterated a “buy” rating on shares of Principal Financial Group in a research report on Thursday, June 29th. BidaskClub upgraded Principal Financial Group from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Royal Bank Of Canada reiterated a “buy” rating and issued a $73.00 price target on shares of Principal Financial Group in a research report on Wednesday, July 12th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $68.00 price target on shares of Principal Financial Group in a research report on Thursday, August 3rd. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $61.78.

In other Principal Financial Group news, EVP Gary P. Scholten sold 13,495 shares of the stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $67.00, for a total value of $904,165.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James P. Mccaughan sold 60,814 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $62.10, for a total value of $3,776,549.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 286,925 shares of company stock worth $18,513,769. 1.50% of the stock is owned by insiders.

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Shares of Principal Financial Group Inc (PFG) traded down 0.11% during trading on Monday, hitting $62.44. The stock had a trading volume of 71,687 shares. The firm has a market capitalization of $18.04 billion, a P/E ratio of 14.19 and a beta of 1.66. The stock’s 50-day moving average price is $63.82 and its 200 day moving average price is $63.76. Principal Financial Group Inc has a 1-year low of $47.87 and a 1-year high of $67.73.

Principal Financial Group (NYSE:PFG) last announced its earnings results on Thursday, July 27th. The financial services provider reported $1.31 EPS for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.09. Principal Financial Group had a return on equity of 13.57% and a net margin of 10.15%. The company had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same period last year, the firm earned $1.15 EPS. On average, analysts anticipate that Principal Financial Group Inc will post $5.19 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be issued a $0.47 dividend. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.46. This represents a $1.88 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Wednesday, August 30th. Principal Financial Group’s dividend payout ratio (DPR) is currently 42.73%.

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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