43,654 Shares in Principal Financial Group Inc (NYSE:PFG) Acquired by Duality Advisers LP

Duality Advisers LP purchased a new position in Principal Financial Group Inc (NYSE:PFG) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 43,654 shares of the financial services provider’s stock, valued at approximately $1,813,000.

Several other large investors also recently bought and sold shares of PFG. Prudential PLC bought a new stake in shares of Principal Financial Group in the 1st quarter worth approximately $50,645,000. Squarepoint Ops LLC raised its holdings in shares of Principal Financial Group by 1,041.8% in the 1st quarter. Squarepoint Ops LLC now owns 499,995 shares of the financial services provider’s stock worth $15,670,000 after purchasing an additional 456,206 shares during the period. BlackRock Inc. raised its holdings in shares of Principal Financial Group by 1.3% in the 1st quarter. BlackRock Inc. now owns 23,582,345 shares of the financial services provider’s stock worth $739,072,000 after purchasing an additional 306,036 shares during the period. Balyasny Asset Management LLC bought a new stake in shares of Principal Financial Group in the 1st quarter worth approximately $9,163,000. Finally, Capital Research Global Investors raised its holdings in shares of Principal Financial Group by 2.0% in the 1st quarter. Capital Research Global Investors now owns 14,562,408 shares of the financial services provider’s stock worth $456,386,000 after purchasing an additional 287,658 shares during the period. 68.64% of the stock is currently owned by institutional investors.

In other news, Director Daniel Gelatt purchased 28,148 shares of Principal Financial Group stock in a transaction dated Friday, June 26th. The stock was purchased at an average cost of $35.52 per share, for a total transaction of $999,816.96. Following the transaction, the director now directly owns 187,741 shares of the company’s stock, valued at $6,668,560.32. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 1.50% of the stock is owned by insiders.

A number of equities research analysts have issued reports on PFG shares. Goldman Sachs Group cut shares of Principal Financial Group from a “neutral” rating to a “sell” rating and set a $38.00 target price on the stock. in a report on Thursday, June 18th. UBS Group boosted their target price on shares of Principal Financial Group from $35.00 to $36.00 and gave the company a “neutral” rating in a report on Friday, May 15th. Morgan Stanley boosted their target price on shares of Principal Financial Group from $42.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, July 28th. Bank of America started coverage on shares of Principal Financial Group in a report on Monday, June 1st. They set a “buy” rating on the stock. Finally, Royal Bank of Canada reissued a “hold” rating and set a $45.00 target price on shares of Principal Financial Group in a report on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $45.50.

PFG opened at $42.43 on Friday. The company has a fifty day moving average price of $42.29 and a 200-day moving average price of $41.63. Principal Financial Group Inc has a one year low of $23.31 and a one year high of $59.34.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Monday, July 27th. The financial services provider reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.16. The firm had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.83 billion. During the same quarter last year, the firm earned $1.52 earnings per share.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.56 per share. The ex-dividend date is Monday, August 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.28%.

Principal Financial Group Company Profile

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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