Principal Financial Group Inc (PFG) Holdings Cut by Berkshire Asset Management LLC PA

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Berkshire Asset Management LLC PA lessened its holdings in Principal Financial Group Inc (NYSE:PFG) by 23.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,262 shares of the financial services provider’s stock after selling 1,596 shares during the quarter. Berkshire Asset Management LLC PA’s holdings in Principal Financial Group were worth $308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the business. First Mercantile Trust Co. grew its stake in Principal Financial Group by 101.1% in the 2nd quarter. First Mercantile Trust Co. now owns 1,910 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 960 shares during the period. Creative Planning grew its stake in Principal Financial Group by 9.5% in the 2nd quarter. Creative Planning now owns 12,605 shares of the financial services provider’s stock valued at $667,000 after purchasing an additional 1,098 shares during the period. BB&T Securities LLC grew its stake in Principal Financial Group by 21.1% in the 2nd quarter. BB&T Securities LLC now owns 6,390 shares of the financial services provider’s stock valued at $338,000 after purchasing an additional 1,112 shares during the period. WINTON GROUP Ltd grew its stake in Principal Financial Group by 15.8% in the 1st quarter. WINTON GROUP Ltd now owns 8,377 shares of the financial services provider’s stock valued at $510,000 after purchasing an additional 1,141 shares during the period. Finally, Commonwealth Equity Services LLC grew its stake in Principal Financial Group by 2.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 45,875 shares of the financial services provider’s stock valued at $2,429,000 after purchasing an additional 1,166 shares during the period. Hedge funds and other institutional investors own 68.64% of the company’s stock.

A number of brokerages have issued reports on PFG. Zacks Investment Research upgraded Principal Financial Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 1st. Morgan Stanley dropped their price target on Principal Financial Group from $70.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 11th. Barclays dropped their price target on Principal Financial Group from $72.00 to $68.00 and set an “overweight” rating on the stock in a research report on Monday, July 9th. UBS Group upped their price target on Principal Financial Group from $57.00 to $59.00 and gave the company a “neutral” rating in a research report on Monday, October 8th. Finally, Credit Suisse Group dropped their price target on Principal Financial Group from $62.00 to $56.00 and set a “neutral” rating on the stock in a research report on Friday, August 17th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $66.40.

Shares of NYSE PFG opened at $55.14 on Friday. Principal Financial Group Inc has a one year low of $52.31 and a one year high of $75.58. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.10 and a quick ratio of 0.10.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Thursday, July 26th. The financial services provider reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). Principal Financial Group had a net margin of 12.35% and a return on equity of 13.55%. The firm had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.58 billion. During the same period in the prior year, the company earned $1.31 EPS. As a group, equities analysts forecast that Principal Financial Group Inc will post 5.22 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Thursday, September 6th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date was Wednesday, September 5th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.52.

In related news, insider James P. Mccaughan sold 20,000 shares of the stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $55.44, for a total transaction of $1,108,800.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Amy Christine Friedrich sold 1,700 shares of the stock in a transaction dated Friday, October 5th. The stock was sold at an average price of $61.00, for a total value of $103,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 41,700 shares of company stock worth $2,320,900 in the last ninety days. Insiders own 1.50% of the company’s stock.

About Principal Financial Group

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. It 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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