Principal Financial Group Inc (NYSE:PFG) Stock Position Reduced by Goelzer Investment Management Inc.

Goelzer Investment Management Inc. lessened its position in shares of Principal Financial Group Inc (NYSE:PFG) by 2.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 171,316 shares of the financial services provider’s stock after selling 3,907 shares during the quarter. Principal Financial Group comprises about 0.9% of Goelzer Investment Management Inc.’s investment portfolio, making the stock its 27th largest position. Goelzer Investment Management Inc.’s holdings in Principal Financial Group were worth $9,789,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Krueger & Catalano Capital Partners LLC raised 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 worth $275,000 after purchasing an additional 171 shares during the period. Signature Wealth Management Group raised its position in shares of Principal Financial Group by 0.3% during the 3rd quarter. Signature Wealth Management Group now owns 57,432 shares of the financial services provider’s stock worth $3,282,000 after purchasing an additional 190 shares during the period. Unison Advisors LLC raised 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 worth $1,154,000 after purchasing an additional 206 shares during the period. Securian Asset Management Inc raised 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 worth $1,545,000 after purchasing an additional 209 shares during the period. Finally, Parallel Advisors LLC raised its position in shares of Principal Financial Group by 17.0% during the 3rd quarter. Parallel Advisors LLC now owns 1,567 shares of the financial services provider’s stock worth $90,000 after purchasing an additional 228 shares during the period. 68.64% of the stock is currently owned by institutional investors.

In related news, EVP Julia M. Lawler sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $53.94, for a total value of $53,940.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders sold 3,000 shares of company stock worth $164,450. 1.50% of the stock is owned by insiders.

PFG traded down $1.47 during trading hours on Wednesday, hitting $54.40. The company’s stock had a trading volume of 61,401 shares, compared to its average volume of 1,367,049. Principal Financial Group Inc has a fifty-two week low of $40.42 and a fifty-two week high of $60.81. The company has a 50-day simple moving average of $55.45 and a 200 day simple moving average of $55.84.

Principal Financial Group (NYSE:PFG) last posted its earnings results on Thursday, October 24th. The financial services provider reported $1.23 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.23). During the same quarter in the previous year, the business posted $1.67 earnings per share.

A number of brokerages have recently weighed in on PFG. 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. Morgan Stanley set a $56.00 price target on Principal Financial Group and gave the stock a “hold” rating in a research report on Friday, October 25th. Finally, UBS Group dropped their price target on 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 equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $56.17.

Principal Financial Group 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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