Principal Financial Group, Inc. (NASDAQ:PFG) Shares Sold by Pictet Asset Management SA

Pictet Asset Management SA lowered its holdings in Principal Financial Group, Inc. (NASDAQ:PFGGet Rating) by 10.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 122,776 shares of the company’s stock after selling 14,463 shares during the period. Pictet Asset Management SA’s holdings in Principal Financial Group were worth $8,200,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PFG. Bank of America Corp DE grew its holdings in Principal Financial Group by 26.3% during the 1st quarter. Bank of America Corp DE now owns 14,006,960 shares of the company’s stock worth $1,028,251,000 after acquiring an additional 2,916,493 shares in the last quarter. Royal Bank of Canada grew its holdings in Principal Financial Group by 307.9% during the 1st quarter. Royal Bank of Canada now owns 1,133,674 shares of the company’s stock worth $83,223,000 after acquiring an additional 855,747 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Principal Financial Group by 3.4% in the 1st quarter. BlackRock Inc. now owns 23,253,147 shares of the company’s stock valued at $1,707,017,000 after buying an additional 756,508 shares in the last quarter. Gillson Capital LP acquired a new position in shares of Principal Financial Group in the 1st quarter valued at $18,856,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Principal Financial Group by 6.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,054,133 shares of the company’s stock valued at $297,615,000 after buying an additional 251,562 shares in the last quarter. Institutional investors and hedge funds own 75.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PFG. Citigroup upped their target price on shares of Principal Financial Group from $62.00 to $65.00 in a report on Wednesday. Keefe, Bruyette & Woods downgraded shares of Principal Financial Group from a “market perform” rating to an “underperform” rating and upped their price target for the company from $75.00 to $77.00 in a research report on Monday, October 31st. StockNews.com initiated coverage on shares of Principal Financial Group in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Barclays downgraded shares of Principal Financial Group from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $81.00 to $89.00 in a research report on Tuesday, November 1st. Finally, Morgan Stanley downgraded shares of Principal Financial Group from an “equal weight” rating to an “underweight” rating and upped their price target for the company from $76.00 to $79.00 in a research report on Thursday. Seven analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat, Principal Financial Group presently has an average rating of “Hold” and an average target price of $77.50.

Insider Activity

In related news, EVP Roberto Walker sold 9,000 shares of the stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $76.95, for a total value of $692,550.00. Following the sale, the executive vice president now directly owns 34,008 shares of the company’s stock, valued at approximately $2,616,915.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Wee Yee Cheong sold 2,447 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $78.45, for a total value of $191,967.15. Following the transaction, the executive vice president now owns 34,700 shares in the company, valued at $2,722,215. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Roberto Walker sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $76.95, for a total transaction of $692,550.00. Following the completion of the transaction, the executive vice president now owns 34,008 shares in the company, valued at approximately $2,616,915.60. The disclosure for this sale can be found here. Insiders sold 25,480 shares of company stock worth $2,007,859 in the last 90 days. 1.17% of the stock is currently owned by corporate insiders.

Principal Financial Group Stock Performance

Shares of PFG opened at $90.90 on Friday. The company has a 50-day simple moving average of $82.21 and a 200-day simple moving average of $74.48. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $22.24 billion, a PE ratio of 4.41, a P/E/G ratio of 2.63 and a beta of 1.29. Principal Financial Group, Inc. has a 52-week low of $61.05 and a 52-week high of $96.17.

Principal Financial Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 19th. Stockholders of record on Thursday, December 1st will be issued a $0.64 dividend. The ex-dividend date is Wednesday, November 30th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.82%. Principal Financial Group’s dividend payout ratio is presently 12.41%.

Principal Financial Group Profile

(Get Rating)

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 (NASDAQ:PFG)

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