Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Dakota Wealth Management

Dakota Wealth Management lowered its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 2.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 31,551 shares of the company’s stock after selling 720 shares during the quarter. Dakota Wealth Management’s holdings in Principal Financial Group were worth $2,710,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Board of Administration of Florida Retirement System grew its position in Principal Financial Group by 6.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 296,889 shares of the company’s stock worth $25,624,000 after buying an additional 18,368 shares during the last quarter. Cetera Investment Advisers raised its position in shares of Principal Financial Group by 108.1% during the first quarter. Cetera Investment Advisers now owns 53,579 shares of the company’s stock worth $4,624,000 after purchasing an additional 27,827 shares during the period. Sei Investments Co. raised its position in shares of Principal Financial Group by 59.4% during the first quarter. Sei Investments Co. now owns 24,275 shares of the company’s stock worth $2,095,000 after purchasing an additional 9,048 shares during the period. Quantbot Technologies LP acquired a new position in shares of Principal Financial Group in the 1st quarter valued at $1,097,000. Finally, SG Americas Securities LLC increased its stake in Principal Financial Group by 57.3% in the 2nd quarter. SG Americas Securities LLC now owns 178,635 shares of the company’s stock worth $14,014,000 after purchasing an additional 65,070 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Stock Down 6.6 %

PFG opened at $83.71 on Friday. The company has a market capitalization of $19.62 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 0.95 and a beta of 1.19. The business has a 50-day moving average of $84.00 and a 200-day moving average of $81.72. Principal Financial Group, Inc. has a fifty-two week low of $66.71 and a fifty-two week high of $91.97. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.29.

Principal Financial Group (NYSE:PFG) last posted its earnings results on Thursday, July 25th. The company reported $1.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.24). Principal Financial Group had a net margin of 8.05% and a return on equity of 14.92%. The business had revenue of $4.31 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter last year, the firm earned $1.53 earnings per share. Equities research analysts forecast that Principal Financial Group, Inc. will post 7.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on PFG. Keefe, Bruyette & Woods decreased their target price on shares of Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating for the company in a report on Tuesday, July 30th. Citigroup lifted their price objective on shares of Principal Financial Group from $68.00 to $70.00 and gave the stock a “sell” rating in a research report on Tuesday, July 23rd. Raymond James upgraded Principal Financial Group from a “market perform” rating to a “strong-buy” rating and set a $99.00 target price for the company in a report on Tuesday, July 9th. Morgan Stanley lowered their price target on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Finally, Wells Fargo & Company increased their price objective on Principal Financial Group from $85.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Principal Financial Group presently has a consensus rating of “Hold” and a consensus target price of $85.58.

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 Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and services.