Principal Financial Group Inc (PFG) Holdings Reduced by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. lowered its holdings in Principal Financial Group Inc (NYSE:PFG) by 4.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 49,577 shares of the financial services provider’s stock after selling 2,370 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Principal Financial Group were worth $2,190,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of the business. Bank of New York Mellon Corp lifted its stake in shares of Principal Financial Group by 16.6% during the fourth quarter. Bank of New York Mellon Corp now owns 8,137,409 shares of the financial services provider’s stock valued at $359,430,000 after acquiring an additional 1,155,996 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Principal Financial Group by 1.8% during the third quarter. Dimensional Fund Advisors LP now owns 3,698,571 shares of the financial services provider’s stock valued at $216,698,000 after acquiring an additional 66,748 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of Principal Financial Group by 9,050.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,676,349 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 2,647,101 shares during the period. FMR LLC lifted its stake in shares of Principal Financial Group by 0.5% during the third quarter. FMR LLC now owns 2,489,298 shares of the financial services provider’s stock valued at $145,848,000 after acquiring an additional 13,075 shares during the period. Finally, Capital World Investors acquired a new position in shares of Principal Financial Group during the third quarter valued at $141,260,000. 68.64% of the stock is currently owned by institutional investors.

In other Principal Financial Group news, EVP Julia M. Lawler sold 1,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $52.38, for a total value of $52,380.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Amy Christine Friedrich sold 900 shares of the stock in a transaction dated Thursday, January 17th. The stock was sold at an average price of $49.00, for a total value of $44,100.00. The disclosure for this sale can be found here. Insiders sold 3,900 shares of company stock worth $196,650 in the last three months. Insiders own 1.50% of the company’s stock.

Several equities analysts have recently issued reports on PFG shares. TheStreet raised Principal Financial Group from a “c+” rating to a “b-” rating in a research note on Monday, January 28th. Goldman Sachs Group lowered Principal Financial Group from a “buy” rating to a “neutral” rating and set a $50.00 price target on the stock. in a research note on Tuesday, January 8th. Royal Bank of Canada lowered Principal Financial Group from an “outperform” rating to a “sector perform” rating and set a $49.00 price target on the stock. in a research note on Tuesday, December 11th. UBS Group lowered Principal Financial Group from a “neutral” rating to a “sell” rating and cut their price target for the company from $46.00 to $45.00 in a research note on Tuesday, February 5th. Finally, Zacks Investment Research lowered Principal Financial Group from a “hold” rating to a “sell” rating in a research note on Monday, December 31st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $58.60.

NYSE:PFG opened at $51.69 on Friday. Principal Financial Group Inc has a 1-year low of $40.42 and a 1-year high of $62.99.

Principal Financial Group (NYSE:PFG) last released its earnings results on Tuesday, January 29th. The financial services provider reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.18). The business had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter last year, the firm earned $1.19 earnings per share.

Principal Financial Group announced that its Board of Directors has initiated a stock repurchase program on Tuesday, November 27th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Monday, March 4th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend is Friday, March 1st.

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Principal Financial Group Profile

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.

Further Reading: Stop Order Uses For Individual Investors

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

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