Elo Mutual Pension Insurance Co Sells 1,836 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Elo Mutual Pension Insurance Co lowered its position in Principal Financial Group, Inc. (NYSE:PFG) by 8.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,948 shares of the company’s stock after selling 1,836 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Principal Financial Group were worth $1,565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. EdgeRock Capital LLC bought a new stake in shares of Principal Financial Group during the 2nd quarter worth approximately $26,000. Riverview Trust Co bought a new stake in shares of Principal Financial Group during the first quarter worth $34,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Principal Financial Group during the fourth quarter valued at $33,000. Family Firm Inc. bought a new position in shares of Principal Financial Group in the second quarter worth about $33,000. Finally, Salomon & Ludwin LLC increased its stake in Principal Financial Group by 319.3% in the 1st quarter. Salomon & Ludwin LLC now owns 499 shares of the company’s stock worth $43,000 after buying an additional 380 shares during the period. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PFG shares. Raymond James raised shares of Principal Financial Group from a “market perform” rating to a “strong-buy” rating and set a $99.00 price objective for the company in a research report on Tuesday, July 9th. Morgan Stanley dropped their price objective on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Citigroup lifted their target price on Principal Financial Group from $68.00 to $70.00 and gave the company a “sell” rating in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods cut their price target on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada upped their price objective on shares of Principal Financial Group from $83.00 to $87.00 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $85.50.

Principal Financial Group Trading Down 0.0 %

NYSE PFG opened at $85.61 on Friday. Principal Financial Group, Inc. has a 52 week low of $66.21 and a 52 week high of $88.26. The company has a 50 day moving average price of $80.23 and a 200 day moving average price of $80.99. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The firm has a market cap of $19.83 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 0.87 and a beta of 1.19.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.24). The business had revenue of $4.31 billion for the quarter, compared to analyst estimates of $3.78 billion. Principal Financial Group had a return on equity of 14.92% and a net margin of 8.05%. During the same period in the previous year, the company posted $1.53 earnings per share. As a group, sell-side analysts forecast that Principal Financial Group, Inc. will post 7.31 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, September 5th will be paid a $0.72 dividend. The ex-dividend date is Thursday, September 5th. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a yield of 3.36%. Principal Financial Group’s dividend payout ratio (DPR) is 54.96%.

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.