Massachusetts Financial Services Co. MA Sells 47,640 Shares of Principal Financial Group, Inc. $PFG

Massachusetts Financial Services Co. MA decreased its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 7.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 561,314 shares of the company’s stock after selling 47,640 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.25% of Principal Financial Group worth $46,539,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Traub Capital Management LLC acquired a new stake in shares of Principal Financial Group in the second quarter valued at about $26,000. Capital A Wealth Management LLC grew its stake in Principal Financial Group by 5,533.3% in the second quarter. Capital A Wealth Management LLC now owns 338 shares of the company’s stock valued at $27,000 after purchasing an additional 332 shares in the last quarter. American National Bank & Trust acquired a new position in shares of Principal Financial Group during the 2nd quarter worth approximately $28,000. Curio Wealth LLC increased its position in shares of Principal Financial Group by 37,800.0% during the 2nd quarter. Curio Wealth LLC now owns 379 shares of the company’s stock worth $30,000 after purchasing an additional 378 shares during the last quarter. Finally, Private Wealth Asset Management LLC raised its stake in shares of Principal Financial Group by 163.4% during the 2nd quarter. Private Wealth Asset Management LLC now owns 403 shares of the company’s stock worth $32,000 after purchasing an additional 250 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Stock Up 2.9%

Principal Financial Group stock opened at $91.09 on Thursday. The company’s 50-day moving average price is $87.85 and its two-hundred day moving average price is $83.08. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The stock has a market cap of $20.29 billion, a P/E ratio of 13.64, a P/E/G ratio of 0.76 and a beta of 0.89. Principal Financial Group, Inc. has a twelve month low of $68.39 and a twelve month high of $92.51.

Principal Financial Group (NYSE:PFG) last posted its earnings results on Monday, October 27th. The company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.20 by $0.12. Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%.During the same period in the prior year, the business earned $2.05 EPS. As a group, analysts expect that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Wednesday, December 3rd were given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 3.5%. The ex-dividend date was Wednesday, December 3rd. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.78. Principal Financial Group’s dividend payout ratio (DPR) is 46.00%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on PFG shares. Wells Fargo & Company raised their target price on shares of Principal Financial Group from $74.00 to $85.00 and gave the company an “underweight” rating in a research note on Tuesday, January 13th. JPMorgan Chase & Co. restated a “neutral” rating and set a $103.00 price objective on shares of Principal Financial Group in a research note on Monday, January 5th. Morgan Stanley set a $93.00 target price on shares of Principal Financial Group in a research note on Monday, December 15th. UBS Group boosted their price target on Principal Financial Group from $88.00 to $92.00 and gave the stock a “neutral” rating in a research report on Thursday, January 8th. Finally, Piper Sandler upped their price objective on Principal Financial Group from $94.00 to $100.00 and gave the company an “overweight” rating in a research note on Tuesday, December 23rd. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Principal Financial Group has an average rating of “Reduce” and an average target price of $92.89.

Insiders Place Their Bets

In other news, CEO Deanna D. Strable-Soethout sold 300 shares of the business’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $92.50, for a total value of $27,750.00. Following the completion of the sale, the chief executive officer owned 62,252 shares of the company’s stock, valued at approximately $5,758,310. The trade was a 0.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Wee Yee Cheong sold 1,887 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $85.04, for a total transaction of $160,470.48. Following the completion of the transaction, the executive vice president owned 81,421 shares in the company, valued at $6,924,041.84. This trade represents a 2.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.08% of the stock is currently owned by company insiders.

About Principal Financial Group

Principal Financial Group, commonly known as Principal, is a global financial services company headquartered in Des Moines, Iowa. The firm provides a broad range of retirement, investment management and insurance solutions for individual, employer and institutional clients. Its core businesses include retirement plan services and recordkeeping, asset management, and life and disability insurance, supported by distribution through employers, financial advisors and direct channels.

On the retirement side, Principal offers 401(k) and other workplace retirement plans, individual retirement accounts and annuity products designed to help clients accumulate and manage retirement savings.