Nisa Investment Advisors LLC Has $6.65 Million Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Nisa Investment Advisors LLC decreased its position in Principal Financial Group, Inc. (NYSE:PFG) by 8.4% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 77,446 shares of the company’s stock after selling 7,115 shares during the period. Nisa Investment Advisors LLC’s holdings in Principal Financial Group were worth $6,653,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in PFG. Farther Finance Advisors LLC boosted its holdings in Principal Financial Group by 2.2% during the second quarter. Farther Finance Advisors LLC now owns 6,325 shares of the company’s stock worth $493,000 after purchasing an additional 135 shares during the last quarter. Ballentine Partners LLC boosted its stake in shares of Principal Financial Group by 5.0% during the 2nd quarter. Ballentine Partners LLC now owns 2,906 shares of the company’s stock worth $228,000 after buying an additional 138 shares during the last quarter. Graypoint LLC grew its holdings in shares of Principal Financial Group by 5.6% in the 2nd quarter. Graypoint LLC now owns 2,654 shares of the company’s stock valued at $208,000 after acquiring an additional 140 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Principal Financial Group by 18.2% in the second quarter. EverSource Wealth Advisors LLC now owns 930 shares of the company’s stock valued at $76,000 after acquiring an additional 143 shares during the last quarter. Finally, Legacy Financial Advisors Inc. raised its holdings in Principal Financial Group by 2.7% during the second quarter. Legacy Financial Advisors Inc. now owns 5,575 shares of the company’s stock worth $437,000 after acquiring an additional 145 shares in the last quarter. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Stock Down 2.4 %

Shares of PFG opened at $82.40 on Friday. The firm has a market cap of $19.08 billion, a P/E ratio of 15.73, a price-to-earnings-growth ratio of 0.88 and a beta of 1.19. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.29 and a current ratio of 0.27. Principal Financial Group, Inc. has a 52 week low of $66.71 and a 52 week high of $91.97. The firm’s 50-day simple moving average is $84.49 and its 200 day simple moving average is $81.80.

Principal Financial Group (NYSE:PFG) last posted its earnings results on Thursday, October 24th. The company reported $1.76 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.26). The firm 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 period in the previous year, the company posted $1.72 EPS. On average, analysts forecast that Principal Financial Group, Inc. will post 7.28 earnings per share for the current year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.73 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.92 annualized dividend and a yield of 3.54%. Principal Financial Group’s dividend payout ratio (DPR) is presently 55.73%.

Wall Street Analysts Forecast Growth

PFG has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price target on Principal Financial Group from $85.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. 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. Royal Bank of Canada increased their price target on shares of Principal Financial Group from $83.00 to $87.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Barclays boosted their price objective on shares of Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Finally, Keefe, Bruyette & Woods cut 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 research note on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.