Principal Financial Group Inc (PFG) Shares Sold by Atria Investments LLC

Atria Investments LLC lessened its stake in Principal Financial Group Inc (NYSE:PFG) by 16.2% in the third quarter, HoldingsChannel reports. The firm owned 32,812 shares of the financial services provider’s stock after selling 6,337 shares during the quarter. Atria Investments LLC’s holdings in Principal Financial Group were worth $1,922,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Assetmark Inc. grew its stake in Principal Financial Group by 2.9% in the 2nd quarter. Assetmark Inc. now owns 188,973 shares of the financial services provider’s stock valued at $10,006,000 after acquiring an additional 5,267 shares during the last quarter. Swiss National Bank grew its stake in Principal Financial Group by 3.1% in the 2nd quarter. Swiss National Bank now owns 955,363 shares of the financial services provider’s stock valued at $50,577,000 after acquiring an additional 29,000 shares during the last quarter. Mainstay Capital Management LLC ADV grew its stake in Principal Financial Group by 2,445.0% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 802,356 shares of the financial services provider’s stock valued at $15,654,000 after acquiring an additional 770,829 shares during the last quarter. Bank of Montreal Can grew its stake in Principal Financial Group by 32.0% in the 2nd quarter. Bank of Montreal Can now owns 769,465 shares of the financial services provider’s stock valued at $40,743,000 after acquiring an additional 186,661 shares during the last quarter. Finally, Signition LP acquired a new stake in Principal Financial Group in the 2nd quarter valued at about $323,000. Institutional investors and hedge funds own 68.64% of the company’s stock.

In other Principal Financial Group news, insider Amy Christine Friedrich sold 1,700 shares of the firm’s stock in a transaction dated Friday, October 5th. The shares were sold at an average price of $61.00, for a total transaction of $103,700.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider James P. Mccaughan sold 20,000 shares of the firm’s 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 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 ninety days. 1.50% of the stock is owned by corporate insiders.

PFG has been the topic of a number of research reports. Credit Suisse Group lowered their price objective on shares of Principal Financial Group from $62.00 to $56.00 and set a “neutral” rating on the stock in a research note on Friday, August 17th. UBS Group increased their price objective on shares of Principal Financial Group from $57.00 to $59.00 and gave the company a “neutral” rating in a research note on Monday, October 8th. Zacks Investment Research cut shares of Principal Financial Group from a “hold” rating to a “sell” rating in a research note on Wednesday, June 27th. Barclays lowered their price objective on shares of Principal Financial Group from $72.00 to $68.00 and set an “overweight” rating on the stock in a research note on Monday, July 9th. Finally, Morgan Stanley lowered their price objective on shares of Principal Financial Group from $70.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 11th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Principal Financial Group has an average rating of “Hold” and an average price target of $66.40.

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

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Thursday, July 26th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.37 by ($0.02). Principal Financial Group had a return on equity of 13.55% and a net margin of 12.35%. The firm had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.58 billion. During the same period in the prior year, the business earned $1.31 earnings per share. Equities analysts expect that Principal Financial Group Inc will post 5.22 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Thursday, September 6th were paid a dividend of $0.53 per share. This is a boost 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%. The ex-dividend date of this dividend was Wednesday, September 5th.

Principal Financial Group Profile

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.

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

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