Principal Financial Group, Inc. $PFG Position Lowered by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC decreased its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 1.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 109,037 shares of the company’s stock after selling 1,322 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Principal Financial Group were worth $8,661,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group acquired a new stake in Principal Financial Group during the second quarter worth about $25,000. American National Bank & Trust acquired a new stake in Principal Financial Group during the second quarter worth about $28,000. von Borstel & Associates Inc. acquired a new stake in Principal Financial Group during the first quarter worth about $32,000. Private Wealth Asset Management LLC raised its stake in Principal Financial Group by 163.4% during the second quarter. Private Wealth Asset Management LLC now owns 403 shares of the company’s stock worth $32,000 after acquiring an additional 250 shares during the period. Finally, Zions Bancorporation National Association UT acquired a new stake in Principal Financial Group during the first quarter worth about $34,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Price Performance

Shares of NYSE:PFG opened at $78.63 on Monday. The firm’s 50 day moving average is $80.73 and its two-hundred day moving average is $78.46. Principal Financial Group, Inc. has a 52 week low of $68.39 and a 52 week high of $91.40. The firm has a market capitalization of $17.52 billion, a P/E ratio of 11.77, a PEG ratio of 0.76 and a beta of 1.03. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings results on Monday, July 28th. The company reported $2.16 EPS for the quarter, beating the consensus estimate of $1.97 by $0.19. Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same period last year, the company earned $1.63 EPS. Analysts anticipate that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Thursday, September 4th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 4.0%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.76. The ex-dividend date was Thursday, September 4th. Principal Financial Group’s payout ratio is 62.78%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PFG shares. Morgan Stanley increased their price objective on shares of Principal Financial Group from $77.00 to $80.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 7th. Evercore ISI increased their price objective on shares of Principal Financial Group from $92.00 to $94.00 and gave the stock an “in-line” rating in a research note on Thursday, October 9th. UBS Group increased their price objective on shares of Principal Financial Group from $85.00 to $87.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 29th. Wells Fargo & Company raised their price target on shares of Principal Financial Group from $72.00 to $73.00 and gave the company an “underweight” rating in a research note on Wednesday, October 8th. Finally, Piper Sandler set a $94.00 price target on shares of Principal Financial Group and gave the company an “overweight” rating in a research note on Tuesday, October 7th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $88.60.

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