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

Berkshire Asset Management LLC PA lowered its holdings in Principal Financial Group Inc (NYSE:PFG) by 23.3% during the 3rd quarter, HoldingsChannel reports. The fund 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 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in shares of Principal Financial Group by 0.5% in the 2nd quarter. BlackRock Inc. now owns 19,878,914 shares of the financial services provider’s stock valued at $1,052,588,000 after acquiring an additional 102,234 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Principal Financial Group by 2.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,688,015 shares of the financial services provider’s stock valued at $89,381,000 after acquiring an additional 45,100 shares in the last quarter. Schroder Investment Management Group raised its holdings in shares of Principal Financial Group by 10.1% in the 2nd quarter. Schroder Investment Management Group now owns 1,515,254 shares of the financial services provider’s stock valued at $80,263,000 after acquiring an additional 138,878 shares in the last quarter. Morgan Stanley raised its holdings in shares of Principal Financial Group by 41.3% in the 2nd quarter. Morgan Stanley now owns 1,253,735 shares of the financial services provider’s stock valued at $66,386,000 after acquiring an additional 366,362 shares in the last quarter. Finally, Guggenheim Capital LLC raised its holdings in shares of Principal Financial Group by 19.6% in the 1st quarter. Guggenheim Capital LLC now owns 984,290 shares of the financial services provider’s stock valued at $59,954,000 after acquiring an additional 161,119 shares in the last quarter. 68.64% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Principal Financial Group stock opened at $55.14 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.10 and a current ratio of 0.10. Principal Financial Group Inc has a 12 month low of $52.31 and a 12 month high of $75.58.

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

The company also recently disclosed 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. The ex-dividend date was Wednesday, September 5th. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a dividend yield of 3.84%.

In other news, insider James P. Mccaughan sold 20,000 shares of the stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $55.42, for a total transaction of $1,108,400.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Amy Christine Friedrich sold 1,700 shares of the stock in a transaction dated Friday, October 5th. The shares were 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 over the last quarter. Corporate insiders own 1.50% of the company’s stock.

PFG has been the topic of several recent analyst reports. Credit Suisse Group lowered their price target on Principal Financial Group from $62.00 to $56.00 and set a “neutral” rating on the stock in a report on Friday, August 17th. UBS Group raised their price target on Principal Financial Group from $57.00 to $59.00 and gave the company a “neutral” rating in a report on Monday, October 8th. Morgan Stanley reduced their price objective 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. Zacks Investment Research upgraded Principal Financial Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 1st. Finally, Barclays reduced their price objective 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. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $66.40.

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.

Read More: Initial Public Offering (IPO)

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 (NYSE:PFG).

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

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