SRB Corp Sells 4,916 Shares of Principal Financial Group Inc (NYSE:PFG)

SRB Corp reduced its position in shares of Principal Financial Group Inc (NYSE:PFG) by 35.8% in the second quarter, Holdings Channel reports. The fund owned 8,809 shares of the financial services provider’s stock after selling 4,916 shares during the quarter. SRB Corp’s holdings in Principal Financial Group were worth $511,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Krueger & Catalano Capital Partners LLC boosted its position in shares of Principal Financial Group by 3.7% during the 2nd quarter. Krueger & Catalano Capital Partners LLC now owns 4,750 shares of the financial services provider’s stock valued at $275,000 after acquiring an additional 171 shares during the last quarter. Unison Advisors LLC boosted its position in shares of Principal Financial Group by 1.0% during the 2nd quarter. Unison Advisors LLC now owns 19,934 shares of the financial services provider’s stock valued at $1,154,000 after acquiring an additional 206 shares during the last quarter. Securian Asset Management Inc boosted its position in shares of Principal Financial Group by 0.8% during the 2nd quarter. Securian Asset Management Inc now owns 26,682 shares of the financial services provider’s stock valued at $1,545,000 after acquiring an additional 209 shares during the last quarter. Ropes Wealth Advisors LLC boosted its position in shares of Principal Financial Group by 5.3% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 4,709 shares of the financial services provider’s stock valued at $273,000 after acquiring an additional 239 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH lifted its position in Principal Financial Group by 1.1% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 23,463 shares of the financial services provider’s stock worth $1,178,000 after buying an additional 247 shares during the last quarter. Hedge funds and other institutional investors own 68.64% of the company’s stock.

PFG traded down $0.91 during trading on Monday, reaching $56.92. The company had a trading volume of 722,255 shares, compared to its average volume of 1,459,495. The business has a 50 day simple moving average of $54.84 and a 200-day simple moving average of $54.80. Principal Financial Group Inc has a 52 week low of $40.42 and a 52 week high of $61.12.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.12. The company had revenue of $3.98 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the prior year, the business earned $1.35 earnings per share.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Thursday, September 5th will be given a $0.55 dividend. The ex-dividend date is Wednesday, September 4th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.54. This represents a $2.20 dividend on an annualized basis and a yield of 3.87%.

In other Principal Financial Group news, insider Luis E. Valdes sold 11,829 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $59.54, for a total value of $704,298.66. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Julia M. Lawler sold 1,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $58.54, for a total value of $58,540.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,490 shares of company stock valued at $3,622,389. 1.50% of the stock is owned by corporate insiders.

PFG has been the subject of a number of analyst reports. Zacks Investment Research upgraded Principal Financial Group from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research report on Tuesday, July 2nd. Morgan Stanley lowered their price target on Principal Financial Group from $59.00 to $57.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 20th. Finally, Barclays set a $66.00 price target on Principal Financial Group and gave the stock a “buy” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $57.29.

About Principal Financial Group

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 (NYSE:PFG)

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