Citigroup Inc. Sells 11,845 Shares of Principal Financial Group, Inc. (NASDAQ:PFG)

Citigroup Inc. decreased its position in shares of Principal Financial Group, Inc. (NASDAQ:PFG) by 3.1% in the 2nd quarter, Holdings Channel reports. The firm owned 366,407 shares of the company’s stock after selling 11,845 shares during the quarter. Citigroup Inc.’s holdings in Principal Financial Group were worth $23,154,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. JT Stratford LLC raised its holdings in Principal Financial Group by 2.6% during the 1st quarter. JT Stratford LLC now owns 6,682 shares of the company’s stock worth $401,000 after purchasing an additional 168 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in Principal Financial Group by 9.1% during the 1st quarter. Quadrant Capital Group LLC now owns 2,192 shares of the company’s stock worth $131,000 after purchasing an additional 183 shares during the last quarter. Loomis Sayles & Co. L P grew its position in shares of Principal Financial Group by 58.5% during the 1st quarter. Loomis Sayles & Co. L P now owns 496 shares of the company’s stock worth $30,000 after buying an additional 183 shares during the period. Mutual of America Capital Management LLC grew its position in shares of Principal Financial Group by 0.6% during the 2nd quarter. Mutual of America Capital Management LLC now owns 33,030 shares of the company’s stock worth $2,087,000 after buying an additional 183 shares during the period. Finally, Xponance Inc. grew its position in shares of Principal Financial Group by 0.3% during the 1st quarter. Xponance Inc. now owns 76,552 shares of the company’s stock worth $4,590,000 after buying an additional 228 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Several analysts have recently commented on PFG shares. raised their price objective on shares of Principal Financial Group from $62.00 to $64.00 and gave the stock a “neutral” rating in a research report on Monday, June 21st. Royal Bank of Canada raised their price objective on shares of Principal Financial Group from $66.00 to $67.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 29th. Credit Suisse Group raised shares of Principal Financial Group from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $57.00 to $82.00 in a research report on Tuesday, July 6th. Morgan Stanley raised their price objective on shares of Principal Financial Group from $70.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 15th. Finally, Zacks Investment Research downgraded shares of Principal Financial Group from a “buy” rating to a “hold” rating and set a $69.00 price target for the company. in a research report on Friday, September 10th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Principal Financial Group currently has an average rating of “Hold” and a consensus target price of $65.55.

PFG opened at $65.16 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.06 and a quick ratio of 0.06. The company has a market capitalization of $17.49 billion, a price-to-earnings ratio of 11.35, a P/E/G ratio of 0.66 and a beta of 1.62. The firm’s fifty day moving average price is $64.51 and its two-hundred day moving average price is $63.39. Principal Financial Group, Inc. has a 1 year low of $37.03 and a 1 year high of $68.40.

Principal Financial Group (NASDAQ:PFG) last posted its quarterly earnings data on Tuesday, July 27th. The company reported $1.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.17. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.71 billion. Principal Financial Group had a net margin of 11.48% and a return on equity of 9.58%. During the same period in the previous year, the firm earned $1.46 EPS. As a group, equities analysts anticipate that Principal Financial Group, Inc. will post 6.49 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 24th. Shareholders of record on Wednesday, September 1st will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.87%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Tuesday, August 31st. Principal Financial Group’s payout ratio is currently 51.01%.

Principal Financial Group Company Profile

Principal Financial Group, Inc is a financial company, which offers financial products and services to businesses, individuals and institutional clients. It specializes in retirement solutions, insurance, and investment products through its diverse family of financial services companies and national network of financial professionals.

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

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