Cerity Partners LLC Buys 1,399 Shares of Principal Financial Group, Inc. (NASDAQ:PFG)

Cerity Partners LLC boosted its holdings in shares of Principal Financial Group, Inc. (NASDAQ:PFGGet Rating) by 47.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,355 shares of the company’s stock after acquiring an additional 1,399 shares during the quarter. Cerity Partners LLC’s holdings in Principal Financial Group were worth $268,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. CIBC Asset Management Inc increased its holdings in Principal Financial Group by 0.6% during the first quarter. CIBC Asset Management Inc now owns 25,225 shares of the company’s stock valued at $1,852,000 after buying an additional 155 shares during the period. Sentry Investment Management LLC increased its holdings in Principal Financial Group by 11.0% during the second quarter. Sentry Investment Management LLC now owns 1,666 shares of the company’s stock valued at $111,000 after buying an additional 165 shares during the period. Kinneret Advisory LLC increased its holdings in Principal Financial Group by 2.2% during the second quarter. Kinneret Advisory LLC now owns 8,559 shares of the company’s stock valued at $572,000 after buying an additional 182 shares during the period. Elo Mutual Pension Insurance Co increased its holdings in Principal Financial Group by 0.9% during the first quarter. Elo Mutual Pension Insurance Co now owns 20,848 shares of the company’s stock valued at $1,530,000 after buying an additional 191 shares during the period. Finally, Cetera Advisors LLC increased its holdings in Principal Financial Group by 4.4% during the first quarter. Cetera Advisors LLC now owns 4,545 shares of the company’s stock valued at $334,000 after buying an additional 193 shares during the period. 75.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PFG has been the topic of several research reports. Raymond James initiated coverage on shares of Principal Financial Group in a report on Wednesday, September 21st. They set a “market perform” rating on the stock. Barclays lowered shares of Principal Financial Group from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $81.00 to $89.00 in a report on Tuesday, November 1st. Evercore ISI lowered shares of Principal Financial Group from an “in-line” rating to an “underperform” rating and lifted their price target for the stock from $75.00 to $81.00 in a report on Thursday, November 17th. StockNews.com started coverage on shares of Principal Financial Group in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Keefe, Bruyette & Woods lowered shares of Principal Financial Group from a “market perform” rating to an “underperform” rating and lifted their price target for the stock from $75.00 to $77.00 in a report on Monday, October 31st. Seven research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat, Principal Financial Group has an average rating of “Hold” and a consensus target price of $77.50.

Insider Activity

In related news, EVP Wee Yee Cheong sold 2,447 shares of the business’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $78.45, for a total transaction of $191,967.15. Following the completion of the transaction, the executive vice president now directly owns 34,700 shares in the company, valued at $2,722,215. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Wee Yee Cheong sold 2,447 shares of the business’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $78.45, for a total transaction of $191,967.15. Following the completion of the transaction, the executive vice president now directly owns 34,700 shares in the company, valued at $2,722,215. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sandra L. Helton sold 14,033 shares of the business’s stock in a transaction on Tuesday, October 18th. The shares were sold at an average price of $80.05, for a total transaction of $1,123,341.65. Following the transaction, the director now owns 18,245 shares of the company’s stock, valued at $1,460,512.25. The disclosure for this sale can be found here. Corporate insiders own 1.17% of the company’s stock.

Principal Financial Group Price Performance

Shares of PFG opened at $91.01 on Tuesday. The firm has a market capitalization of $22.27 billion, a PE ratio of 4.41, a price-to-earnings-growth ratio of 2.57 and a beta of 1.29. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.37 and a quick ratio of 0.37. Principal Financial Group, Inc. has a 1-year low of $61.05 and a 1-year high of $96.17. The company’s fifty day moving average price is $82.60 and its 200-day moving average price is $74.69.

Principal Financial Group Announces Dividend

The business 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 dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend is Wednesday, November 30th. Principal Financial Group’s dividend payout ratio (DPR) is presently 12.41%.

About Principal Financial Group

(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.

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

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