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

Bank of Montreal Can lowered its position in Principal Financial Group, Inc. (NASDAQ:PFGGet Rating) by 3.4% in the second quarter, Holdings Channel.com reports. The fund 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of PFG. Metis Global Partners LLC bought a new stake in shares of Principal Financial Group in the 1st quarter worth approximately $295,000. Arizona State Retirement System lifted its position in shares of Principal Financial Group by 1.0% during the 1st quarter. Arizona State Retirement System now owns 73,784 shares of the company’s stock worth $5,416,000 after buying an additional 709 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of Principal Financial Group by 16.2% during the 1st quarter. Commonwealth Equity Services LLC now owns 63,050 shares of the company’s stock worth $4,628,000 after buying an additional 8,767 shares during the period. Victory Capital Management Inc. lifted its position in shares of Principal Financial Group by 4.3% during the 1st quarter. Victory Capital Management Inc. now owns 806,568 shares of the company’s stock worth $54,960,000 after buying an additional 33,152 shares during the period. Finally, Financial Advisory Service Inc. lifted its position in shares of Principal Financial Group by 42.2% during the 1st quarter. Financial Advisory Service Inc. now owns 12,155 shares of the company’s stock worth $892,000 after buying an additional 3,606 shares during the period. Institutional investors own 75.12% of the company’s stock.

Principal Financial Group Stock Up 0.1 %

NASDAQ PFG opened at $91.78 on Thursday. The stock has a fifty day moving average of $83.30 and a 200-day moving average of $75.04. The stock has a market capitalization of $22.46 billion, a P/E ratio of 4.45, a price-to-earnings-growth ratio of 2.59 and a beta of 1.29. Principal Financial Group, Inc. has a 52 week low of $61.05 and a 52 week high of $96.17. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.37 and a current ratio of 0.37.

Principal Financial Group Dividend Announcement

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

Analyst Ratings Changes

Several research firms recently commented on PFG. Evercore ISI downgraded Principal Financial Group from an “in-line” rating to an “underperform” rating and raised their target price for the stock from $75.00 to $81.00 in a research report on Thursday, November 17th. Raymond James assumed coverage on Principal Financial Group in a report on Wednesday, September 21st. They set a “market perform” rating for the company. Citigroup raised their price target on Principal Financial Group from $62.00 to $65.00 in a report on Wednesday, November 16th. StockNews.com assumed coverage on Principal Financial Group in a report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Credit Suisse Group cut 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 report on Thursday, August 18th. Seven investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, Principal Financial Group has an average rating of “Hold” and a consensus target price of $77.50.

Insider Buying and Selling

In related news, EVP Wee Yee Cheong sold 2,447 shares of Principal Financial Group 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Sandra L. Helton sold 14,033 shares of Principal Financial Group stock in a transaction on Tuesday, October 18th. The stock was sold at an average price of $80.05, for a total transaction 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 legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Wee Yee Cheong sold 2,447 shares of Principal Financial Group stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $78.45, for a total value of $191,967.15. Following 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. 1.17% of the stock is owned by insiders.

Principal Financial Group Company 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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