Rhumbline Advisers Has $30.97 Million Holdings in Principal Financial Group, Inc. (NASDAQ:PFG)

Rhumbline Advisers raised its position in Principal Financial Group, Inc. (NASDAQ:PFGGet Rating) by 7.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 463,624 shares of the company’s stock after purchasing an additional 30,169 shares during the quarter. Rhumbline Advisers’ holdings in Principal Financial Group were worth $30,965,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. CIBC Asset Management Inc raised its position in Principal Financial Group by 0.6% in the first quarter. CIBC Asset Management Inc now owns 25,225 shares of the company’s stock valued at $1,852,000 after purchasing an additional 155 shares during the last quarter. Sentry Investment Management LLC raised its position in Principal Financial Group by 11.0% in the second quarter. Sentry Investment Management LLC now owns 1,666 shares of the company’s stock valued at $111,000 after purchasing an additional 165 shares during the last quarter. Kinneret Advisory LLC raised its position in Principal Financial Group by 2.2% in the second quarter. Kinneret Advisory LLC now owns 8,559 shares of the company’s stock valued at $572,000 after purchasing an additional 182 shares during the last quarter. Elo Mutual Pension Insurance Co raised its position in Principal Financial Group by 0.9% in the first quarter. Elo Mutual Pension Insurance Co now owns 20,848 shares of the company’s stock valued at $1,530,000 after purchasing an additional 191 shares during the last quarter. Finally, Cetera Advisors LLC raised its position in Principal Financial Group by 4.4% in the first quarter. Cetera Advisors LLC now owns 4,545 shares of the company’s stock valued at $334,000 after purchasing an additional 193 shares during the last quarter. 75.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on PFG shares. StockNews.com started coverage on Principal Financial Group in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Credit Suisse Group downgraded Principal Financial Group from an “outperform” rating to a “neutral” rating and raised their price objective for the stock from $82.00 to $86.00 in a research report on Thursday, August 18th. JPMorgan Chase & Co. downgraded Principal Financial Group from a “neutral” rating to an “underweight” rating and raised their price objective for the stock from $69.00 to $72.00 in a research report on Friday, October 7th. Citigroup raised their price objective on Principal Financial Group from $62.00 to $65.00 in a research report on Wednesday, November 16th. Finally, Keefe, Bruyette & Woods downgraded Principal Financial Group from a “market perform” rating to an “underperform” rating and raised their price objective for the stock from $75.00 to $77.00 in a research report on Monday, October 31st. Seven research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat.com, Principal Financial Group presently has a consensus rating of “Hold” and a consensus price target of $77.50.

Principal Financial Group Trading Up 0.1 %

Shares of Principal Financial Group stock opened at $91.78 on Thursday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.37 and a current ratio of 0.37. Principal Financial Group, Inc. has a 52 week low of $61.05 and a 52 week high of $96.17. The stock has a 50 day moving average price of $83.30 and a two-hundred day moving average price of $75.04. The stock has a market capitalization of $22.46 billion, a PE ratio of 4.45, a price-to-earnings-growth ratio of 2.59 and a beta of 1.29.

Principal Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 19th. Shareholders of record on Thursday, December 1st will be paid a $0.64 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $2.56 dividend on an annualized basis and a yield of 2.79%. Principal Financial Group’s dividend payout ratio (DPR) is presently 12.41%.

Insider Buying and Selling at Principal Financial Group

In other Principal Financial Group news, EVP Wee Yee Cheong sold 2,447 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $78.45, for a total value of $191,967.15. Following the completion of the sale, the executive vice president now owns 34,700 shares of the company’s stock, valued at $2,722,215. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Sandra L. Helton sold 14,033 shares of Principal Financial Group stock in a transaction that occurred on Tuesday, October 18th. The stock was sold at an average price of $80.05, for a total transaction of $1,123,341.65. Following the transaction, the director now owns 18,245 shares of the company’s stock, valued at $1,460,512.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Wee Yee Cheong sold 2,447 shares of Principal Financial Group stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $78.45, for a total value of $191,967.15. Following the transaction, the executive vice president now directly owns 34,700 shares in the company, valued at approximately $2,722,215. The disclosure for this sale can be found here. Insiders own 1.17% of the company’s stock.

Principal Financial Group Profile

(Get Rating)

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 (NASDAQ:PFG)

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