Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its stake in Principal Financial Group, Inc. (NYSE:PFG) by 13.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,429 shares of the company’s stock after selling 6,635 shares during the period. State of Alaska Department of Revenue’s holdings in Principal Financial Group were worth $3,834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of PFG. Schonfeld Strategic Advisors LLC acquired a new stake in Principal Financial Group in the 3rd quarter valued at about $3,290,000. Royal London Asset Management Ltd. raised its position in shares of Principal Financial Group by 11.2% during the 3rd quarter. Royal London Asset Management Ltd. now owns 172,994 shares of the company’s stock worth $12,464,000 after acquiring an additional 17,376 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its position in shares of Principal Financial Group by 14.0% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 237,931 shares of the company’s stock worth $17,148,000 after acquiring an additional 29,181 shares in the last quarter. Tudor Investment Corp Et Al raised its position in shares of Principal Financial Group by 4,783.4% during the 3rd quarter. Tudor Investment Corp Et Al now owns 131,852 shares of the company’s stock worth $9,503,000 after acquiring an additional 129,152 shares in the last quarter. Finally, Comerica Bank acquired a new stake in shares of Principal Financial Group during the 3rd quarter worth about $4,667,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PFG shares. Keefe, Bruyette & Woods raised their target price on Principal Financial Group from $85.00 to $89.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Evercore ISI raised their target price on Principal Financial Group from $84.00 to $86.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Wells Fargo & Company cut their target price on Principal Financial Group from $91.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Monday, April 29th. Jefferies Financial Group raised their target price on Principal Financial Group from $74.00 to $78.00 and gave the stock a “hold” rating in a research report on Friday, June 28th. Finally, Piper Sandler lifted their price target on Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $82.60.

Principal Financial Group Trading Down 0.1 %

NYSE:PFG opened at $79.16 on Friday. The firm has a market cap of $18.55 billion, a P/E ratio of 11.76, a PEG ratio of 0.86 and a beta of 1.21. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.35. The stock’s 50 day simple moving average is $80.76 and its 200-day simple moving average is $80.56. Principal Financial Group, Inc. has a 12-month low of $66.21 and a 12-month high of $86.79.

Principal Financial Group (NYSE:PFG) last released its earnings results on Thursday, April 25th. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.09). The company had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.68 billion. Principal Financial Group had a net margin of 8.70% and a return on equity of 15.06%. During the same period in the previous year, the firm posted $1.48 EPS. Equities analysts anticipate that Principal Financial Group, Inc. will post 7.45 EPS for the current year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Monday, June 3rd were issued a $0.71 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.59%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.69. Principal Financial Group’s payout ratio is presently 54.20%.

Principal Financial Group Company 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.