Asset Management One Co. Ltd. Has $9.37 Million Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Asset Management One Co. Ltd. increased its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 15.4% in the third quarter, Holdings Channel reports. The firm owned 109,100 shares of the company’s stock after buying an additional 14,588 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Principal Financial Group were worth $9,372,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. EdgeRock Capital LLC acquired a new position in Principal Financial Group in the second quarter valued at about $26,000. Strategic Financial Concepts LLC acquired a new position in Principal Financial Group in the second quarter valued at about $32,000. Family Firm Inc. acquired a new position in Principal Financial Group in the second quarter valued at about $33,000. Innealta Capital LLC acquired a new position in Principal Financial Group in the second quarter valued at about $43,000. Finally, MCF Advisors LLC grew its stake in Principal Financial Group by 55.6% in the second quarter. MCF Advisors LLC now owns 613 shares of the company’s stock valued at $48,000 after acquiring an additional 219 shares during the period. 75.08% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Price Performance

NYSE:PFG opened at $86.00 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. The stock’s 50 day moving average price is $84.76 and its two-hundred day moving average price is $81.93. The firm has a market capitalization of $19.67 billion, a price-to-earnings ratio of -95.55, a P/E/G ratio of 0.94 and a beta of 1.20. Principal Financial Group, Inc. has a 12-month low of $68.69 and a 12-month high of $91.97.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings data 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 business had revenue of $3.01 billion during the quarter, compared to the consensus estimate 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 in the prior year, the company earned $1.72 EPS. On average, analysts anticipate that Principal Financial Group, Inc. will post 7.12 earnings per share for the current year.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be given a $0.73 dividend. This is an increase 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 dividend yield of 3.40%. Principal Financial Group’s dividend payout ratio is presently -320.00%.

Wall Street Analyst Weigh In

PFG has been the topic of a number of research reports. Royal Bank of Canada boosted their price target on Principal Financial Group from $83.00 to $87.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. Bank of America cut their price target on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Barclays boosted their price target on Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Piper Sandler boosted their price target on Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Finally, 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 report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price 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.