Principal Financial Group, Inc. (NASDAQ:PFG) Shares Sold by Bank of Montreal Can

Bank of Montreal Can trimmed its holdings in Principal Financial Group, Inc. (NASDAQ:PFGGet Rating) by 3.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 about 0.06% of Principal Financial Group worth $11,066,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. MCF Advisors LLC acquired a new stake in shares of Principal Financial Group during the 1st quarter valued at approximately $32,000. Clear Street Markets LLC raised its position in shares of Principal Financial Group by 397.0% during the 2nd quarter. Clear Street Markets LLC now owns 492 shares of the company’s stock valued at $33,000 after acquiring an additional 393 shares in the last quarter. Truvestments Capital LLC acquired a new stake in shares of Principal Financial Group during the 2nd quarter valued at approximately $33,000. Hazlett Burt & Watson Inc. acquired a new stake in shares of Principal Financial Group during the 1st quarter valued at approximately $43,000. Finally, CX Institutional acquired a new stake in shares of Principal Financial Group during the 2nd quarter valued at approximately $41,000. 75.12% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PFG shares. Morgan Stanley lowered 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, November 17th. Keefe, Bruyette & Woods downgraded Principal Financial Group from a “market perform” rating to an “underperform” rating and upped their price objective for the stock from $75.00 to $77.00 in a research note on Monday, October 31st. JPMorgan Chase & Co. downgraded Principal Financial Group from a “neutral” rating to an “underweight” rating and upped their price objective for the stock from $69.00 to $72.00 in a research note on Friday, October 7th. Barclays downgraded Principal Financial Group from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $81.00 to $89.00 in a research note on Tuesday, November 1st. Finally, Jefferies Financial Group upped their price objective on Principal Financial Group from $56.00 to $60.00 and gave the stock an “underperform” rating in a research note on Thursday, September 8th. Seven analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $77.50.

Principal Financial Group Trading Up 0.1 %

Shares of Principal Financial Group stock opened at $91.78 on Thursday. 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 firm has a market cap of $22.46 billion, a price-to-earnings ratio of 4.45, a price-to-earnings-growth ratio of 2.59 and a beta of 1.29. The business has a fifty day simple moving average of $83.30 and a 200-day simple moving average of $75.04. Principal Financial Group, Inc. has a fifty-two week low of $61.05 and a fifty-two week high of $96.17.

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 issued a $0.64 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $2.56 annualized dividend and a dividend yield of 2.79%. Principal Financial Group’s dividend payout ratio (DPR) 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.

Featured Stories

Institutional Ownership by Quarter for Principal Financial Group (NASDAQ:PFG)

Receive News & Ratings for Principal Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Principal Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.