Principal Financial Group Inc. Has $19.87 Million Position in Principal Financial Group, Inc. (NYSE:PFG)

Principal Financial Group Inc. lifted its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 3.0% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 231,277 shares of the company’s stock after buying an additional 6,817 shares during the quarter. Principal Financial Group Inc. owned about 0.10% of Principal Financial Group worth $19,867,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Acadian Asset Management LLC boosted its holdings in shares of Principal Financial Group by 403.6% during the second quarter. Acadian Asset Management LLC now owns 354,447 shares of the company’s stock worth $27,800,000 after acquiring an additional 284,067 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in Principal Financial Group in the 2nd quarter valued at $19,698,000. Intech Investment Management LLC grew its holdings in Principal Financial Group by 586.1% in the 1st quarter. Intech Investment Management LLC now owns 234,815 shares of the company’s stock valued at $20,267,000 after buying an additional 200,588 shares in the last quarter. Swedbank AB bought a new position in Principal Financial Group during the 1st quarter worth $13,996,000. Finally, Capital Research Global Investors lifted its holdings in shares of Principal Financial Group by 2.4% during the first quarter. Capital Research Global Investors now owns 6,602,298 shares of the company’s stock worth $569,844,000 after buying an additional 152,774 shares in the last quarter. Institutional investors own 75.08% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on PFG. Royal Bank of Canada raised their price target on shares of Principal Financial Group from $83.00 to $87.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Morgan Stanley lowered their target price on shares of 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. Bank of America cut their price target on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Piper Sandler raised their price objective on Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group upped their target price on Principal Financial Group from $73.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $85.58.

Principal Financial Group Stock Performance

NYSE:PFG opened at $86.64 on Thursday. Principal Financial Group, Inc. has a twelve month low of $70.22 and a twelve month high of $91.97. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. The stock’s 50-day simple moving average is $85.18 and its 200 day simple moving average is $82.09. The firm has a market capitalization of $19.82 billion, a PE ratio of -96.27, a price-to-earnings-growth ratio of 1.00 and a beta of 1.20.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings results on Thursday, October 24th. The company reported $1.76 earnings per share for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.26). The company had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.92 billion. Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. During the same quarter in the previous year, the business posted $1.72 earnings per share. On average, analysts anticipate that Principal Financial Group, Inc. will post 7.12 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date is Monday, December 2nd. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s payout ratio is presently -320.00%.

Principal Financial Group 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.