Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Pathstone Holdings LLC

Pathstone Holdings LLC trimmed its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 3.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,509 shares of the company’s stock after selling 876 shares during the quarter. Pathstone Holdings LLC’s holdings in Principal Financial Group were worth $2,363,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. EdgeRock Capital LLC acquired a new stake in shares of Principal Financial Group during the second quarter valued at about $26,000. Strategic Financial Concepts LLC purchased a new stake in Principal Financial Group in the second quarter valued at approximately $32,000. Family Firm Inc. acquired a new position in Principal Financial Group during the second quarter worth $33,000. Peterson Financial Group Inc. purchased a new position in shares of Principal Financial Group during the third quarter worth $33,000. Finally, Innealta Capital LLC purchased a new position in shares of Principal Financial Group during the second quarter worth $43,000. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Stock Up 1.5 %

Shares of NYSE PFG opened at $87.04 on Tuesday. The business has a 50-day moving average of $86.22 and a two-hundred day moving average of $82.37. The company has a market capitalization of $19.91 billion, a price-to-earnings ratio of -96.71, a price-to-earnings-growth ratio of 1.00 and a beta of 1.20. Principal Financial Group, Inc. has a 1 year low of $71.39 and a 1 year high of $91.97. 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 analysts’ consensus estimates 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 company earned $1.72 earnings per share. On average, analysts forecast that Principal Financial Group, Inc. will post 7.04 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be given a $0.73 dividend. The ex-dividend date is Monday, December 2nd. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.72. This represents a $2.92 dividend on an annualized basis and a yield of 3.35%. Principal Financial Group’s payout ratio is -320.00%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PFG shares. Morgan Stanley decreased their target price 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. Royal Bank of Canada raised their price objective on shares of Principal Financial Group from $87.00 to $91.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 19th. Barclays upped their target price on shares of Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Wells Fargo & Company raised their price target on shares of 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. Finally, Bank of America cut their price objective on 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. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $85.92.

About Principal Financial Group

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.