Bank of Montreal Can Sells 5,738 Shares of Principal Financial Group, Inc. (NASDAQ:PFG)

Bank of Montreal Can trimmed its position in Principal Financial Group, Inc. (NASDAQ:PFGGet Rating) by 3.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 161,573 shares of the company’s stock after selling 5,738 shares during the period. Bank of Montreal Can owned approximately 0.06% of Principal Financial Group worth $11,066,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PFG. MCF Advisors LLC bought a new stake in Principal Financial Group during the first quarter worth about $32,000. Clear Street Markets LLC raised its holdings in Principal Financial Group by 397.0% during the second quarter. Clear Street Markets LLC now owns 492 shares of the company’s stock worth $33,000 after acquiring an additional 393 shares in the last quarter. Truvestments Capital LLC bought a new stake in Principal Financial Group during the second quarter worth about $33,000. CX Institutional bought a new stake in Principal Financial Group during the second quarter worth about $41,000. Finally, LS Investment Advisors LLC bought a new stake in Principal Financial Group during the second quarter worth about $42,000. 75.12% of the stock is currently owned by institutional investors.

Principal Financial Group Price Performance

Principal Financial Group stock opened at $91.78 on Thursday. Principal Financial Group, Inc. has a 12 month low of $61.05 and a 12 month high of $96.17. The stock’s 50 day moving average is $83.30 and its 200-day moving average is $75.04. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $22.46 billion, a price-to-earnings ratio of 4.45, a PEG ratio of 2.59 and a beta of 1.29.

Principal Financial Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 19th. Stockholders of record on Thursday, December 1st will be given a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Wednesday, November 30th. Principal Financial Group’s payout ratio is 12.41%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PFG. Barclays lowered Principal Financial Group from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $81.00 to $89.00 in a report on Tuesday, November 1st. Citigroup upped their target price on Principal Financial Group from $62.00 to $65.00 in a report on Wednesday, November 16th. Keefe, Bruyette & Woods downgraded Principal Financial Group from a “market perform” rating to an “underperform” rating and boosted their price target for the stock from $75.00 to $77.00 in a research report on Monday, October 31st. Royal Bank of Canada boosted their price target on Principal Financial Group from $75.00 to $88.00 in a research report on Monday, October 31st. Finally, JPMorgan Chase & Co. downgraded Principal Financial Group from a “neutral” rating to an “underweight” rating and boosted their price target for the stock from $69.00 to $72.00 in a research report on Friday, October 7th. Seven investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, Principal Financial Group has a consensus rating of “Hold” and a consensus price target of $77.50.

Insider Activity

In related news, Director Sandra L. Helton sold 14,033 shares of the business’s stock in a transaction that occurred on 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 sale, the director now directly owns 18,245 shares in the company, valued at $1,460,512.25. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Wee Yee Cheong sold 2,447 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 34,700 shares in the company, valued at $2,722,215. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Sandra L. Helton sold 14,033 shares of the business’s stock in a transaction that occurred on Tuesday, October 18th. The shares were sold at an average price of $80.05, for a total value of $1,123,341.65. Following the completion of the sale, the director now owns 18,245 shares of the company’s stock, valued at $1,460,512.25. The disclosure for this sale can be found here. 1.17% of the stock is owned by company insiders.

About Principal Financial Group

(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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