Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by National Pension Service

National Pension Service reduced its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 7.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 377,592 shares of the company’s stock after selling 32,445 shares during the period. National Pension Service owned 0.16% of Principal Financial Group worth $32,435,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC lifted its position 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 buying an additional 135 shares during the period. Ballentine Partners LLC lifted its holdings 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 acquiring an additional 138 shares during the period. Graypoint LLC boosted its position in shares of Principal Financial Group by 5.6% in the second quarter. Graypoint LLC now owns 2,654 shares of the company’s stock worth $208,000 after acquiring an additional 140 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in 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 purchasing an additional 143 shares during the period. Finally, Harbor Capital Advisors Inc. grew its holdings in Principal Financial Group by 2.9% in the third quarter. Harbor Capital Advisors Inc. now owns 5,091 shares of the company’s stock valued at $437,000 after purchasing an additional 144 shares during the period. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Trading Down 0.2 %

NYSE:PFG opened at $86.00 on Friday. The company has a market cap of $19.67 billion, a PE ratio of -95.55, a P/E/G ratio of 0.94 and a beta of 1.20. The business’s 50 day moving average is $84.76 and its two-hundred day moving average is $81.93. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. Principal Financial Group, Inc. has a 52 week low of $68.69 and a 52 week high of $91.97.

Principal Financial Group (NYSE:PFG) last posted its quarterly 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 business 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 last year, the firm posted $1.72 earnings per share. On average, analysts predict that Principal Financial Group, Inc. will post 7.12 EPS for the current year.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.73 per share. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, December 2nd. This represents a $2.92 annualized dividend and a dividend yield of 3.40%. Principal Financial Group’s payout ratio is -320.00%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PFG shares. Royal Bank of Canada lifted 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 report on Monday, July 29th. Wells Fargo & Company boosted their price target on Principal Financial Group from $85.00 to $86.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Piper Sandler lifted their price objective on Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group increased their target price on shares of Principal Financial Group from $73.00 to $76.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Finally, Bank of America decreased their price objective on shares of Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Principal Financial Group currently has an average rating of “Hold” and an average price target of $85.58.

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.