Principal Financial Group Inc (NYSE:PFG) Shares Sold by Eagle Ridge Investment Management

Eagle Ridge Investment Management cut its stake in Principal Financial Group Inc (NYSE:PFG) by 1.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 151,940 shares of the financial services provider’s stock after selling 2,028 shares during the period. Principal Financial Group accounts for about 1.3% of Eagle Ridge Investment Management’s portfolio, making the stock its 28th largest position. Eagle Ridge Investment Management owned about 0.05% of Principal Financial Group worth $8,800,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Strs Ohio raised its position in Principal Financial Group by 390.3% during the 2nd quarter. Strs Ohio now owns 18,035 shares of the financial services provider’s stock worth $1,044,000 after buying an additional 14,357 shares during the last quarter. US Bancorp DE raised its position in Principal Financial Group by 7.7% during the 1st quarter. US Bancorp DE now owns 74,059 shares of the financial services provider’s stock worth $3,717,000 after buying an additional 5,266 shares during the last quarter. South Dakota Investment Council raised its position in Principal Financial Group by 28.1% during the 1st quarter. South Dakota Investment Council now owns 25,500 shares of the financial services provider’s stock worth $1,280,000 after buying an additional 5,600 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in Principal Financial Group by 71.7% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 67,517 shares of the financial services provider’s stock worth $3,804,000 after buying an additional 28,199 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in Principal Financial Group by 50.2% during the 1st quarter. Parallel Advisors LLC now owns 1,541 shares of the financial services provider’s stock worth $77,000 after buying an additional 515 shares during the last quarter. Institutional investors own 68.64% of the company’s stock.

A number of equities analysts have issued reports on PFG shares. UBS Group reduced their price target on shares of Principal Financial Group from $51.00 to $50.00 and set a “sell” rating for the company in a research report on Tuesday, May 7th. Barclays set a $66.00 target price on shares of Principal Financial Group and gave the company a “buy” rating in a report on Monday. Morgan Stanley lifted their target price on shares of Principal Financial Group from $58.00 to $59.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Zacks Investment Research raised shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a report on Tuesday, July 2nd. Finally, Royal Bank of Canada lifted their target price on shares of Principal Financial Group to $55.00 and gave the company a “market perform” rating in a report on Monday, April 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Principal Financial Group has a consensus rating of “Hold” and an average price target of $57.38.



NYSE PFG traded up $0.38 on Thursday, hitting $52.81. The company had a trading volume of 28,900 shares, compared to its average volume of 1,508,153. The company’s fifty day moving average price is $57.66. Principal Financial Group Inc has a 12-month low of $40.42 and a 12-month high of $61.12.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $1.52 EPS for the quarter, topping the consensus estimate of $1.40 by $0.12. The company had revenue of $3.98 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same period in the previous year, the firm posted $1.35 EPS.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Thursday, September 5th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 4.17%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.54.

In related news, EVP Julia M. Lawler sold 1,000 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $51.50, for a total value of $51,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Luis E. Valdes sold 47,661 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $57.67, for a total transaction of $2,748,609.87. The disclosure for this sale can be found here. In the last three months, insiders sold 62,490 shares of company stock valued at $3,620,939. 1.50% of the stock is owned by insiders.

About Principal Financial Group

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 (NYSE:PFG)

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