Skandinaviska Enskilda Banken AB publ raised its position in shares of Principal Financial Group Inc (NYSE:PFG) by 3.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 38,886 shares of the financial services provider’s stock after buying an additional 1,400 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Principal Financial Group were worth $2,278,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new position in shares of Principal Financial Group during the second quarter valued at about $100,000. First Mercantile Trust Co. increased its holdings in shares of Principal Financial Group by 101.1% during the second quarter. First Mercantile Trust Co. now owns 1,910 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 960 shares in the last quarter. Dupont Capital Management Corp increased its holdings in shares of Principal Financial Group by 140.2% during the second quarter. Dupont Capital Management Corp now owns 2,356 shares of the financial services provider’s stock valued at $125,000 after acquiring an additional 1,375 shares in the last quarter. Focused Wealth Management Inc increased its holdings in shares of Principal Financial Group by 2,090.9% during the second quarter. Focused Wealth Management Inc now owns 2,410 shares of the financial services provider’s stock valued at $128,000 after acquiring an additional 2,300 shares in the last quarter. Finally, Lourd Capital LLC acquired a new position in shares of Principal Financial Group during the third quarter valued at about $211,000. 68.64% of the stock is owned by institutional investors and hedge funds.

In other Principal Financial Group news, Director Daniel Gelatt purchased 25,000 shares of the business’s stock in a transaction that occurred on Monday, November 5th. The shares were bought at an average price of $48.10 per share, for a total transaction of $1,202,500.00. Following the acquisition, the director now owns 138,694 shares in the company, valued at $6,671,181.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James P. Mccaughan sold 20,000 shares of the stock in a transaction that occurred on 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. 1.50% of the stock is currently owned by corporate insiders.

PFG opened at $48.24 on Friday. Principal Financial Group Inc has a 52-week low of $45.20 and a 52-week high of $75.58.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Thursday, October 25th. The financial services provider reported $1.67 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.67. The business had revenue of $4.35 billion during the quarter, compared to analyst estimates of $3.86 billion.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Monday, December 3rd will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend is Friday, November 30th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.53.

PFG has been the topic of several recent analyst reports. Credit Suisse Group cut 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 report on Friday, August 17th. Deutsche Bank initiated coverage on shares of Principal Financial Group in a report on Tuesday, October 16th. They set a “hold” rating and a $61.00 price objective on the stock. UBS Group upped their price objective on shares of Principal Financial Group from $57.00 to $59.00 and gave the company a “neutral” rating in a report on Monday, October 8th. Zacks Investment Research restated a “hold” rating on shares of Principal Financial Group in a report on Wednesday. Finally, Morgan Stanley cut their price objective on shares of Principal Financial Group from $64.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $64.70.

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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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