Cerity Partners LLC Acquires 1,399 Shares of Principal Financial Group, Inc. (NASDAQ:PFG)

Cerity Partners LLC boosted its holdings in Principal Financial Group, Inc. (NASDAQ:PFGGet Rating) by 47.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,355 shares of the company’s stock after acquiring an additional 1,399 shares during the quarter. Cerity Partners LLC’s holdings in Principal Financial Group were worth $268,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PFG. Qtron Investments LLC bought a new position in shares of Principal Financial Group during the 2nd quarter valued at $277,000. Truvestments Capital LLC bought a new position in shares of Principal Financial Group during the 2nd quarter valued at $33,000. Leelyn Smith LLC lifted its holdings in shares of Principal Financial Group by 4.9% during the 2nd quarter. Leelyn Smith LLC now owns 32,054 shares of the company’s stock valued at $2,141,000 after buying an additional 1,508 shares during the period. Ten Capital Wealth Advisors LLC bought a new position in shares of Principal Financial Group during the 2nd quarter valued at $105,000. Finally, Foster & Motley Inc. lifted its holdings in shares of Principal Financial Group by 9.8% during the 2nd quarter. Foster & Motley Inc. now owns 15,069 shares of the company’s stock valued at $1,006,000 after buying an additional 1,346 shares during the period. 75.12% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PFG has been the topic of several research analyst reports. Credit Suisse Group cut Principal Financial Group from an “outperform” rating to a “neutral” rating and increased their price target for the company from $82.00 to $86.00 in a report on Thursday, August 18th. Raymond James initiated coverage on Principal Financial Group in a report on Wednesday, September 21st. They issued a “market perform” rating on the stock. Evercore ISI cut Principal Financial Group from an “in-line” rating to an “underperform” rating and raised their target price for the stock from $75.00 to $81.00 in a report on Thursday, November 17th. Royal Bank of Canada raised their target price on Principal Financial Group from $75.00 to $88.00 in a report on Monday, October 31st. Finally, JPMorgan Chase & Co. cut Principal Financial Group from a “neutral” rating to an “underweight” rating and raised their target price for the stock from $69.00 to $72.00 in a report on Friday, October 7th. Seven research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $77.50.

Insider Activity

In other news, Director Sandra L. Helton sold 14,033 shares of the firm’s stock in a transaction dated Tuesday, October 18th. The stock was sold at an average price of $80.05, for a total transaction of $1,123,341.65. Following the completion of the transaction, the director now owns 18,245 shares in the company, valued at $1,460,512.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Sandra L. Helton sold 14,033 shares of Principal Financial Group stock in a transaction dated Tuesday, October 18th. The stock was sold at an average price of $80.05, for a total value of $1,123,341.65. Following the completion of the transaction, the director now owns 18,245 shares in the company, valued at $1,460,512.25. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Wee Yee Cheong sold 2,447 shares of Principal Financial Group stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $78.45, for a total value of $191,967.15. Following the completion of the transaction, the executive vice president now owns 34,700 shares of the company’s stock, valued at approximately $2,722,215. The disclosure for this sale can be found here. Company insiders own 1.17% of the company’s stock.

Principal Financial Group Trading Up 0.1 %

Shares of PFG stock opened at $91.01 on Tuesday. Principal Financial Group, Inc. has a 52-week low of $61.05 and a 52-week high of $96.17. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.37 and a current ratio of 0.37. The firm has a market capitalization of $22.27 billion, a PE ratio of 4.41, a PEG ratio of 2.57 and a beta of 1.29. The stock has a fifty day simple moving average of $82.60 and a two-hundred day simple moving average of $74.69.

Principal Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 19th. Stockholders of record on Thursday, December 1st will be given a dividend of $0.64 per share. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.81%. Principal Financial Group’s payout ratio is 12.41%.

Principal Financial Group Company 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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