Principal Financial Group Inc (NYSE:PFG) Shares Sold by M&T Bank Corp

M&T Bank Corp cut its holdings in shares of Principal Financial Group Inc (NYSE:PFG) by 14.2% in the second quarter, HoldingsChannel reports. The firm owned 15,541 shares of the financial services provider’s stock after selling 2,575 shares during the period. M&T Bank Corp’s holdings in Principal Financial Group were worth $899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Strs Ohio raised its stake in shares of Principal Financial Group by 390.3% during the 2nd quarter. Strs Ohio now owns 18,035 shares of the financial services provider’s stock valued at $1,044,000 after buying an additional 14,357 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Principal Financial Group by 35.7% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,830 shares of the financial services provider’s stock worth $164,000 after acquiring an additional 745 shares during the period. US Bancorp DE grew its holdings in Principal Financial Group by 7.7% during the first quarter. US Bancorp DE now owns 74,059 shares of the financial services provider’s stock worth $3,717,000 after acquiring an additional 5,266 shares during the period. South Dakota Investment Council raised its position in Principal Financial Group by 28.1% during the first quarter. South Dakota Investment Council now owns 25,500 shares of the financial services provider’s stock valued at $1,280,000 after acquiring an additional 5,600 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in Principal Financial Group by 71.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 67,517 shares of the financial services provider’s stock valued at $3,804,000 after acquiring an additional 28,199 shares in the last quarter. Institutional investors own 68.64% of the company’s stock.

In other Principal Financial Group news, insider Luis E. Valdes sold 47,661 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $57.67, for a total transaction of $2,748,609.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Julia M. Lawler sold 1,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $58.54, for a total transaction of $58,540.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 62,490 shares of company stock worth $3,622,389. 1.50% of the stock is owned by corporate insiders.

Several equities research analysts have commented on PFG shares. Barclays set a $66.00 price objective on Principal Financial Group and gave the stock a “buy” rating in a research report on Monday, August 12th. Zacks Investment Research raised shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a research note on Tuesday, July 2nd. Finally, Morgan Stanley cut their target price on shares of Principal Financial Group from $59.00 to $57.00 and set an “equal weight” rating for the company in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $57.29.

Shares of PFG stock traded down $0.52 during mid-day trading on Wednesday, hitting $56.13. 23,589 shares of the stock were exchanged, compared to its average volume of 1,465,439. Principal Financial Group Inc has a 52-week low of $40.42 and a 52-week high of $61.12. The firm has a fifty day moving average of $54.94 and a 200 day moving average of $54.76.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $1.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.12. The business had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter in the prior year, the firm earned $1.35 EPS.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, September 5th will be issued a $0.55 dividend. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.54. This represents a $2.20 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend is Wednesday, September 4th.

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. The company operates through Retirement and Income Solutions, Principal Global Investors, Principal International, and U.S. Insurance Solutions segments.

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

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