Forsta AP Fonden Has $3.89 Million Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Forsta AP Fonden reduced its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 16.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 49,600 shares of the company’s stock after selling 9,600 shares during the quarter. Forsta AP Fonden’s holdings in Principal Financial Group were worth $3,891,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. EdgeRock Capital LLC acquired a new position in shares of Principal Financial Group during the second quarter valued at about $26,000. Strategic Financial Concepts LLC purchased a new position in Principal Financial Group during the 2nd quarter worth $32,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Principal Financial Group in the fourth quarter valued at about $33,000. Family Firm Inc. bought a new position in shares of Principal Financial Group during the second quarter valued at about $33,000. Finally, Riverview Trust Co purchased a new position in Principal Financial Group during the first quarter worth about $34,000. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

Shares of NYSE PFG opened at $81.32 on Monday. The firm has a market capitalization of $19.06 billion, a price-to-earnings ratio of 15.52, a price-to-earnings-growth ratio of 0.83 and a beta of 1.19. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average of $80.01 and a 200 day moving average of $80.87. Principal Financial Group, Inc. has a 12-month low of $66.21 and a 12-month high of $88.26.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data 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 company had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Principal Financial Group had a net margin of 8.05% and a return on equity of 14.92%. During the same period last year, the business earned $1.53 earnings per share. On average, research analysts anticipate that Principal Financial Group, Inc. will post 7.31 earnings per share for the current year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, September 5th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 3.54%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Thursday, September 5th. Principal Financial Group’s payout ratio is presently 54.96%.

Analysts Set New Price Targets

Several equities research analysts have commented on PFG shares. Jefferies Financial Group increased their price objective on shares of Principal Financial Group from $73.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Keefe, Bruyette & Woods cut their price objective on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 30th. Citigroup lifted their target price on Principal Financial Group from $68.00 to $70.00 and gave the stock a “sell” rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from an “underweight” rating to a “neutral” rating and increased their price target for the company from $88.00 to $96.00 in a research report on Tuesday, July 2nd. Finally, Bank of America lifted their price objective on shares of Principal Financial Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $85.50.

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.