Principal Financial Group Inc. Has $19.87 Million Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Principal Financial Group Inc. increased its position in Principal Financial Group, Inc. (NYSE:PFG) by 3.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 231,277 shares of the company’s stock after buying an additional 6,817 shares during the quarter. Principal Financial Group Inc.’s holdings in Principal Financial Group were worth $19,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System increased its position in Principal Financial Group by 6.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 296,889 shares of the company’s stock valued at $25,624,000 after acquiring an additional 18,368 shares during the period. Cetera Investment Advisers raised its position in Principal Financial Group by 108.1% during the 1st quarter. Cetera Investment Advisers now owns 53,579 shares of the company’s stock worth $4,624,000 after purchasing an additional 27,827 shares during the last quarter. Sei Investments Co. lifted its holdings in Principal Financial Group by 59.4% during the 1st quarter. Sei Investments Co. now owns 24,275 shares of the company’s stock worth $2,095,000 after buying an additional 9,048 shares during the period. SG Americas Securities LLC lifted its holdings in Principal Financial Group by 57.3% during the 2nd quarter. SG Americas Securities LLC now owns 178,635 shares of the company’s stock worth $14,014,000 after buying an additional 65,070 shares during the period. Finally, Tidal Investments LLC grew its position in shares of Principal Financial Group by 54.2% in the 1st quarter. Tidal Investments LLC now owns 26,847 shares of the company’s stock valued at $2,317,000 after buying an additional 9,432 shares during the last quarter. Institutional investors own 75.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PFG shares. Morgan Stanley cut 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. Bank of America dropped their price target on shares of Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Piper Sandler increased their price objective 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. Citigroup boosted their target price on shares of Principal Financial Group from $68.00 to $70.00 and gave the company a “sell” rating in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada increased their price target on Principal Financial Group from $83.00 to $87.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. 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 company’s stock. According to MarketBeat.com, Principal Financial Group presently has a consensus rating of “Hold” and a consensus target price of $85.58.

Principal Financial Group Price Performance

PFG stock opened at $86.64 on Thursday. Principal Financial Group, Inc. has a 1 year low of $70.22 and a 1 year high of $91.97. The stock has a market capitalization of $19.82 billion, a PE ratio of -96.27, a price-to-earnings-growth ratio of 1.00 and a beta of 1.20. The company’s 50-day moving average is $85.18 and its 200-day moving average is $82.09. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30.

Principal Financial Group (NYSE:PFG) last announced 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 during the quarter, compared to the consensus estimate of $3.92 billion. Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. During the same quarter in the previous year, the company posted $1.72 EPS. Equities research analysts expect that Principal Financial Group, Inc. will post 7.12 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 paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date is Monday, December 2nd. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s payout ratio is -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.