Principal Financial Group, Inc. (NYSE:PFG) Stock Holdings Trimmed by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC lessened its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 86.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,490 shares of the company’s stock after selling 21,649 shares during the period. Kingsview Wealth Management LLC’s holdings in Principal Financial Group were worth $300,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Acadian Asset Management LLC lifted its stake in 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 purchasing an additional 284,067 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Principal Financial Group in the 2nd quarter worth about $19,698,000. Swedbank AB acquired a new position in shares of Principal Financial Group in the 1st quarter valued at about $13,996,000. Mizuho Securities USA LLC grew its position in shares of Principal Financial Group by 818.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 152,648 shares of the company’s stock valued at $13,112,000 after buying an additional 136,021 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in Principal Financial Group by 6,593.7% during the third quarter. International Assets Investment Management LLC now owns 132,200 shares of the company’s stock worth $11,356,000 after acquiring an additional 130,225 shares during the period. Institutional investors and hedge funds own 75.08% of the company’s stock.

Wall Street Analysts Forecast Growth

PFG has been the subject of a number of research reports. Royal Bank of Canada lifted their target price on Principal Financial Group from $87.00 to $91.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 19th. Wells Fargo & Company upped their price objective on Principal Financial Group from $85.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Bank of America cut their target price on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Piper Sandler upped their price target on shares of Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Barclays lifted their price objective on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Principal Financial Group has an average rating of “Hold” and a consensus price target of $85.92.

Principal Financial Group Trading Down 0.2 %

Principal Financial Group stock opened at $87.09 on Friday. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.97. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a market capitalization of $19.92 billion, a PE ratio of -96.77, a price-to-earnings-growth ratio of 1.02 and a beta of 1.20. The firm has a 50 day simple moving average of $86.41 and a 200-day simple moving average of $82.48.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Thursday, October 24th. The company reported $1.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.02 by ($0.26). The firm had revenue of $3.01 billion for 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 last year, the business posted $1.72 earnings per share. As a group, equities research analysts expect that Principal Financial Group, Inc. will post 7.04 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 3.35%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, December 2nd. Principal Financial Group’s dividend 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.