Principal Financial Group Inc (NYSE:PFG) Shares Sold by Coastal Investment Advisors Inc.

Coastal Investment Advisors Inc. cut its holdings in Principal Financial Group Inc (NYSE:PFG) by 15.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,783 shares of the financial services provider’s stock after selling 518 shares during the quarter. Coastal Investment Advisors Inc.’s holdings in Principal Financial Group were worth $159,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PFG. Nuveen Asset Management LLC grew its position in shares of Principal Financial Group by 19,214.5% in the second quarter. Nuveen Asset Management LLC now owns 1,342,167 shares of the financial services provider’s stock valued at $77,739,000 after purchasing an additional 1,335,218 shares during the last quarter. Invesco Ltd. grew its position in shares of Principal Financial Group by 25.5% in the second quarter. Invesco Ltd. now owns 3,938,036 shares of the financial services provider’s stock valued at $228,092,000 after purchasing an additional 800,950 shares during the last quarter. AXA acquired a new stake in shares of Principal Financial Group in the second quarter valued at approximately $27,521,000. Acadian Asset Management LLC grew its position in shares of Principal Financial Group by 191.0% in the second quarter. Acadian Asset Management LLC now owns 472,964 shares of the financial services provider’s stock valued at $27,394,000 after purchasing an additional 310,426 shares during the last quarter. Finally, Natixis acquired a new stake in shares of Principal Financial Group in the second quarter valued at approximately $17,716,000. Institutional investors and hedge funds own 68.64% of the company’s stock.

Shares of PFG opened at $56.82 on Tuesday. The company’s 50 day simple moving average is $55.60 and its 200 day simple moving average is $55.72. Principal Financial Group Inc has a 1 year low of $40.42 and a 1 year high of $60.81.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.12. The firm had revenue of $3.98 billion for the quarter, compared to analysts’ expectations of $3.82 billion. During the same period in the previous year, the company posted $1.35 EPS.

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

Several research firms have recently commented on PFG. Morgan Stanley lowered their price target on shares of Principal Financial Group from $59.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 20th. Barclays set a $66.00 price target on shares of Principal Financial Group and gave the company a “buy” rating in a research report on Monday, August 12th. Zacks Investment Research upgraded shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research report on Tuesday, July 2nd. Finally, UBS Group lowered their price target on shares of Principal Financial Group from $49.00 to $48.00 and set a “sell” rating on the stock in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Principal Financial Group has an average rating of “Hold” and a consensus price target of $56.33.

In other Principal Financial Group news, EVP Julia M. Lawler sold 1,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $57.56, for a total transaction of $57,560.00. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last ninety days, insiders have sold 3,000 shares of company stock worth $168,500. 1.50% of the stock is currently owned by insiders.

Principal Financial Group Company Profile

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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