Principal Financial Group, Inc. (NYSE:PFG) Stock Position Reduced by Tredje AP fonden

Tredje AP fonden decreased its stake in Principal Financial Group, Inc. (NYSE:PFG) by 1.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,683 shares of the company’s stock after selling 586 shares during the quarter. Tredje AP fonden’s holdings in Principal Financial Group were worth $2,956,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Farther Finance Advisors LLC raised its holdings in shares of 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 acquiring an additional 135 shares in the last quarter. Ballentine Partners LLC increased its holdings in Principal Financial Group by 5.0% in the second quarter. Ballentine Partners LLC now owns 2,906 shares of the company’s stock worth $228,000 after buying an additional 138 shares during the last quarter. Graypoint LLC raised its position in Principal Financial Group by 5.6% during the second quarter. Graypoint LLC now owns 2,654 shares of the company’s stock valued at $208,000 after acquiring an additional 140 shares in the last quarter. City State Bank raised its position in Principal Financial Group by 1.7% during the first quarter. City State Bank now owns 8,216 shares of the company’s stock valued at $709,000 after acquiring an additional 141 shares in the last quarter. Finally, Jacobi Capital Management LLC lifted its stake in Principal Financial Group by 3.1% in the first quarter. Jacobi Capital Management LLC now owns 5,301 shares of the company’s stock valued at $458,000 after acquiring an additional 160 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Stock Up 2.3 %

PFG opened at $85.62 on Friday. The business has a 50 day moving average of $80.22 and a 200-day moving average of $80.95. The stock has a market capitalization of $20.07 billion, a price-to-earnings ratio of 16.34, a P/E/G ratio of 0.84 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. Principal Financial Group, Inc. has a 1-year low of $66.21 and a 1-year high of $88.26.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.24). The company had revenue of $4.31 billion during the quarter, compared to the consensus estimate 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 company earned $1.53 earnings per share. As a group, sell-side 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 announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Thursday, September 5th will be given a dividend of $0.72 per share. The ex-dividend date is Thursday, September 5th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a yield of 3.36%. Principal Financial Group’s dividend payout ratio (DPR) is 54.96%.

Analysts Set New Price Targets

PFG has been the topic of a number of recent research reports. Morgan Stanley cut their price target on shares of Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Bank of America boosted their price target on Principal Financial Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Keefe, Bruyette & Woods decreased their price target on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating for the company in a research note on Tuesday, July 30th. Raymond James raised Principal Financial Group from a “market perform” rating to a “strong-buy” rating and set a $99.00 price objective on the stock in a research note on Tuesday, July 9th. Finally, Citigroup upped their target price on Principal Financial Group from $68.00 to $70.00 and gave the stock a “sell” rating in a research report on Tuesday, July 23rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $85.50.

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.