Pictet Asset Management Ltd. Sells 118,152 Shares of Principal Financial Group Inc (NYSE:PFG)

Pictet Asset Management Ltd. trimmed its holdings in Principal Financial Group Inc (NYSE:PFG) by 43.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 154,676 shares of the financial services provider’s stock after selling 118,152 shares during the quarter. Pictet Asset Management Ltd. owned about 0.06% of Principal Financial Group worth $8,838,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Strs Ohio raised its holdings in shares of Principal Financial Group by 390.3% in the second 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. raised its holdings in Principal Financial Group by 35.7% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,830 shares of the financial services provider’s stock worth $164,000 after purchasing an additional 745 shares during the last quarter. Cadence Capital Management LLC raised its holdings in Principal Financial Group by 4.7% during the 3rd quarter. Cadence Capital Management LLC now owns 13,011 shares of the financial services provider’s stock worth $743,000 after purchasing an additional 586 shares during the last quarter. US Bancorp DE raised its holdings in Principal Financial Group by 12.6% during the 2nd quarter. US Bancorp DE now owns 83,383 shares of the financial services provider’s stock worth $4,829,000 after purchasing an additional 9,324 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its holdings in Principal Financial Group by 9.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 145,592 shares of the financial services provider’s stock worth $8,433,000 after purchasing an additional 13,114 shares during the last quarter. 68.64% of the stock is owned by institutional investors and hedge funds.

Shares of PFG stock opened at $53.85 on Tuesday. The stock has a 50-day moving average of $55.14 and a 200-day moving average of $55.66. Principal Financial Group Inc has a one year low of $40.42 and a one year high of $60.81.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.23). During the same quarter in the prior year, the company earned $1.67 earnings per share.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Tuesday, December 3rd will be paid a $0.55 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 4.09%.

Several analysts have weighed in on PFG shares. Morgan Stanley set a $56.00 price objective on Principal Financial Group and gave the stock a “hold” rating in a report on Friday, October 25th. UBS Group dropped their price objective on Principal Financial Group from $49.00 to $48.00 and set a “sell” rating for the company in a report on Thursday, October 10th. Finally, Barclays set a $66.00 price objective on Principal Financial Group and gave the stock a “buy” rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $56.17.

In other news, EVP Julia M. Lawler sold 1,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $53.94, for a total value of $53,940.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.50% of the company’s stock.

About Principal Financial Group

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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