Mutual of America Capital Management LLC Has $2.14 Million Position in Principal Financial Group, Inc. (NASDAQ:PFG)

Mutual of America Capital Management LLC lowered its position in Principal Financial Group, Inc. (NASDAQ:PFGGet Rating) by 1.1% in the second quarter, HoldingsChannel.com reports. The fund owned 32,054 shares of the company’s stock after selling 369 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Principal Financial Group were worth $2,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the company. Lee Financial Co acquired a new stake in Principal Financial Group in the second quarter valued at $60,000. Mackenzie Financial Corp raised its position in shares of Principal Financial Group by 22.2% in the second quarter. Mackenzie Financial Corp now owns 31,978 shares of the company’s stock valued at $2,136,000 after purchasing an additional 5,815 shares during the period. Cibc World Market Inc. raised its position in shares of Principal Financial Group by 2.5% in the second quarter. Cibc World Market Inc. now owns 18,776 shares of the company’s stock valued at $1,254,000 after purchasing an additional 451 shares during the period. Hunter Associates Investment Management LLC bought a new position in shares of Principal Financial Group in the second quarter valued at about $228,000. Finally, Cerity Partners LLC raised its position in shares of Principal Financial Group by 47.3% in the second quarter. Cerity Partners LLC now owns 4,355 shares of the company’s stock valued at $268,000 after purchasing an additional 1,399 shares during the period. Institutional investors and hedge funds own 75.12% of the company’s stock.

Principal Financial Group Trading Up 0.1 %

PFG opened at $91.78 on Thursday. The company’s 50 day moving average is $83.30 and its 200-day moving average is $75.04. Principal Financial Group, Inc. has a 1-year low of $61.05 and a 1-year high of $96.17. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.42. The company has a market cap of $22.46 billion, a P/E ratio of 4.45, a PEG ratio of 2.57 and a beta of 1.29.

Principal Financial Group Dividend Announcement

The business also recently declared 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 is Wednesday, November 30th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.79%. Principal Financial Group’s payout ratio is currently 12.41%.

Insider Activity

In other Principal Financial Group news, EVP Wee Yee Cheong sold 2,447 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 34,700 shares of the company’s stock, valued at approximately $2,722,215. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, 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 value of $1,123,341.65. Following the sale, the director now 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 is accessible through the SEC website. Also, EVP Wee Yee Cheong sold 2,447 shares of the business’s 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 in the company, valued at approximately $2,722,215. The disclosure for this sale can be found here. 1.17% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Citigroup raised their price target on shares of Principal Financial Group from $62.00 to $65.00 in a research report on Wednesday, November 16th. Barclays lowered shares of Principal Financial Group from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $81.00 to $89.00 in a research report on Tuesday, November 1st. Royal Bank of Canada raised their price target on shares of Principal Financial Group from $75.00 to $88.00 in a research report on Monday, October 31st. Keefe, Bruyette & Woods lowered shares of Principal Financial Group from a “market perform” rating to an “underperform” rating and raised their price target for the stock from $75.00 to $77.00 in a research report on Monday, October 31st. Finally, Morgan Stanley downgraded shares of Principal Financial Group from an “equal weight” rating to an “underweight” rating and increased their price objective for the stock from $76.00 to $79.00 in a research note on Thursday, November 17th. Seven investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat, Principal Financial Group presently has a consensus rating of “Hold” and an average price target of $77.50.

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.

See Also

Want to see what other hedge funds are holding PFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Principal Financial Group, Inc. (NASDAQ:PFGGet Rating).

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

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