Raymond James Financial Services Advisors Inc. Decreases Position in Principal Financial Group Inc (PFG)

Raymond James Financial Services Advisors Inc. cut its stake in Principal Financial Group Inc (NYSE:PFG) by 12.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,667 shares of the financial services provider’s stock after selling 6,042 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Principal Financial Group were worth $2,606,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Sun Life Financial INC boosted its holdings in shares of Principal Financial Group by 21,822.2% in the second quarter. Sun Life Financial INC now owns 1,973 shares of the financial services provider’s stock valued at $126,000 after acquiring an additional 1,964 shares in the last quarter. Jacobi Capital Management LLC boosted its holdings 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 valued at $167,000 after acquiring an additional 2,003 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Principal Financial Group in the first quarter valued at approximately $202,000. Eagle Global Advisors LLC bought a new position in shares of Principal Financial Group in the second quarter valued at approximately $207,000. Finally, Lowe Brockenbrough & Co. Inc. bought a new stake in Principal Financial Group during the first quarter worth approximately $211,000. Institutional investors and hedge funds own 68.17% of the company’s stock.

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Shares of Principal Financial Group Inc (PFG) opened at 68.20 on Friday. The firm has a 50-day moving average of $64.88 and a 200-day moving average of $64.34. The stock has a market cap of $19.71 billion, a P/E ratio of 15.50 and a beta of 1.67. Principal Financial Group Inc has a 52-week low of $52.67 and a 52-week high of $68.90.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Thursday, October 26th. The financial services provider reported $1.28 EPS for the quarter, missing the Zacks’ consensus estimate of $1.30 by ($0.02). The business had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.12 billion. Principal Financial Group had a return on equity of 13.57% and a net margin of 10.15%. During the same period in the prior year, the firm earned $1.15 EPS. On average, equities analysts expect that Principal Financial Group Inc will post $5.21 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Monday, December 4th will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.87%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.47. Principal Financial Group’s payout ratio is currently 42.73%.

A number of brokerages recently weighed in on PFG. Goldman Sachs Group, Inc. (The) began coverage on shares of Principal Financial Group in a report on Wednesday, October 18th. They set a “neutral” rating and a $70.00 target price for the company. Wells Fargo & Company set a $76.00 price target on shares of Principal Financial Group and gave the company a “buy” rating in a research report on Wednesday, October 18th. BidaskClub downgraded shares of Principal Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Zacks Investment Research upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Tuesday, August 1st. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $68.00 price target on shares of Principal Financial Group in a research report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $67.40.

In other Principal Financial Group news, insider Nora Mary Everett sold 12,398 shares of the company’s stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $68.00, for a total transaction of $843,064.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider James P. Mccaughan sold 60,817 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $66.98, for a total transaction of $4,073,522.66. The disclosure for this sale can be found here. Insiders have sold 204,354 shares of company stock worth $13,387,478 over the last ninety days. Insiders own 1.50% of the company’s stock.

About Principal Financial Group

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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