Principal Financial Group, Inc. $PFG Shares Sold by Montag A & Associates Inc.

Montag A & Associates Inc. lessened its position in Principal Financial Group, Inc. (NYSE:PFG) by 13.1% during the second quarter, Holdings Channel reports. The institutional investor owned 14,065 shares of the company’s stock after selling 2,127 shares during the quarter. Montag A & Associates Inc.’s holdings in Principal Financial Group were worth $1,117,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PFG. Geneos Wealth Management Inc. boosted its position in shares of Principal Financial Group by 7.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,889 shares of the company’s stock valued at $159,000 after purchasing an additional 134 shares during the period. Chicago Partners Investment Group LLC raised its position in Principal Financial Group by 2.5% during the second quarter. Chicago Partners Investment Group LLC now owns 5,550 shares of the company’s stock valued at $449,000 after acquiring an additional 137 shares in the last quarter. Federation des caisses Desjardins du Quebec lifted its stake in shares of Principal Financial Group by 0.5% in the 1st quarter. Federation des caisses Desjardins du Quebec now owns 27,536 shares of the company’s stock valued at $2,323,000 after purchasing an additional 139 shares during the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of Principal Financial Group by 3.9% in the first quarter. Stratos Wealth Partners LTD. now owns 3,826 shares of the company’s stock worth $323,000 after buying an additional 144 shares during the last quarter. Finally, Raiffeisen Bank International AG boosted its position in Principal Financial Group by 12.6% during the first quarter. Raiffeisen Bank International AG now owns 1,380 shares of the company’s stock worth $115,000 after purchasing an additional 154 shares during the period. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Trading Up 1.0%

Shares of NYSE:PFG opened at $84.38 on Wednesday. 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 $18.80 billion, a PE ratio of 12.63, a P/E/G ratio of 0.76 and a beta of 1.02. The business has a 50 day moving average of $81.57 and a 200-day moving average of $79.55. Principal Financial Group, Inc. has a 12-month low of $68.39 and a 12-month high of $90.31.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Monday, October 27th. The company reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the company earned $2.05 EPS. As a group, equities research analysts forecast that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Wednesday, December 3rd will be given a $0.79 dividend. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.78. The ex-dividend date is Wednesday, December 3rd. This represents a $3.16 annualized dividend and a yield of 3.7%. Principal Financial Group’s dividend payout ratio is currently 46.00%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PFG shares. Keefe, Bruyette & Woods lifted their price target on Principal Financial Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a research report on Thursday, October 30th. Barclays increased their target price on Principal Financial Group from $80.00 to $83.00 and gave the stock an “underweight” rating in a report on Wednesday, October 8th. Morgan Stanley upgraded shares of Principal Financial Group from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $80.00 to $81.00 in a research report on Thursday, October 23rd. Evercore ISI raised their target price on Principal Financial Group from $92.00 to $94.00 and gave the company an “in-line” rating in a research note on Thursday, October 9th. Finally, Wells Fargo & Company upped their price objective on Principal Financial Group from $73.00 to $74.00 and gave the stock an “underweight” rating in a report on Wednesday, October 29th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $88.90.

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.