Bank of Montreal Can Has $11.07 Million Stake in Principal Financial Group, Inc. (NASDAQ:PFG)

Bank of Montreal Can trimmed its stake in Principal Financial Group, Inc. (NASDAQ:PFGGet Rating) by 3.4% in the second quarter, HoldingsChannel.com reports. The firm owned 161,573 shares of the company’s stock after selling 5,738 shares during the period. Bank of Montreal Can’s holdings in Principal Financial Group were worth $11,066,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Principal Financial Group by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 29,028,108 shares of the company’s stock worth $2,130,953,000 after acquiring an additional 150,598 shares during the period. BlackRock Inc. grew its holdings in Principal Financial Group by 3.4% during the 1st quarter. BlackRock Inc. now owns 23,253,147 shares of the company’s stock worth $1,707,017,000 after acquiring an additional 756,508 shares during the period. Bank of America Corp DE grew its holdings in Principal Financial Group by 26.3% during the 1st quarter. Bank of America Corp DE now owns 14,006,960 shares of the company’s stock worth $1,028,251,000 after acquiring an additional 2,916,493 shares during the period. Northern Trust Corp grew its holdings in Principal Financial Group by 1.1% during the 1st quarter. Northern Trust Corp now owns 4,113,693 shares of the company’s stock worth $301,986,000 after acquiring an additional 43,319 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Principal Financial Group by 6.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,054,133 shares of the company’s stock worth $297,615,000 after acquiring an additional 251,562 shares during the period. 75.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. Evercore ISI downgraded Principal Financial Group from an “in-line” rating to an “underperform” rating and raised their target price for the company from $75.00 to $81.00 in a research note on Thursday, November 17th. Jefferies Financial Group raised their target price on Principal Financial Group from $56.00 to $60.00 and gave the company an “underperform” rating in a research note on Thursday, September 8th. Barclays downgraded Principal Financial Group from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $81.00 to $89.00 in a research note on Tuesday, November 1st. Credit Suisse Group cut shares of Principal Financial Group from an “outperform” rating to a “neutral” rating and raised their price target for the company from $82.00 to $86.00 in a research report on Thursday, August 18th. Finally, Morgan Stanley lowered shares of Principal Financial Group from an “equal weight” rating to an “underweight” rating and raised their price target for the stock from $76.00 to $79.00 in a research note on Thursday, November 17th. Seven equities research analysts have rated the stock with a sell rating and seven have assigned 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.

Insiders Place Their Bets

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

Principal Financial Group Stock Up 0.1 %

PFG opened at $91.78 on Thursday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.42. Principal Financial Group, Inc. has a 1-year low of $61.05 and a 1-year high of $96.17. The company has a market capitalization of $22.46 billion, a PE ratio of 4.45, a PEG ratio of 2.59 and a beta of 1.29. The firm’s 50 day simple moving average is $83.30 and its two-hundred day simple moving average is $75.04.

Principal Financial Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 19th. Shareholders of record on Thursday, December 1st will be given a $0.64 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $2.56 annualized dividend and a yield of 2.79%. Principal Financial Group’s payout ratio is presently 12.41%.

Principal Financial Group Profile

(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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