Fmr LLC Lowers Stake in Principal Financial Group, Inc. (NYSE:PFG)

Fmr LLC lessened its stake in Principal Financial Group, Inc. (NYSE:PFG) by 3.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 503,233 shares of the company’s stock after selling 20,236 shares during the period. Fmr LLC owned about 0.22% of Principal Financial Group worth $43,228,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWM LLC raised its holdings in shares of Principal Financial Group by 7.3% in the 2nd quarter. CWM LLC now owns 11,285 shares of the company’s stock valued at $885,000 after buying an additional 763 shares during the period. Simplicity Wealth LLC increased its stake in Principal Financial Group by 3.4% during the second quarter. Simplicity Wealth LLC now owns 5,334 shares of the company’s stock worth $418,000 after purchasing an additional 173 shares during the period. Capital Investment Advisors LLC lifted its position in shares of Principal Financial Group by 10.8% during the second quarter. Capital Investment Advisors LLC now owns 6,428 shares of the company’s stock worth $504,000 after purchasing an additional 626 shares in the last quarter. Czech National Bank boosted its stake in shares of Principal Financial Group by 6.5% in the second quarter. Czech National Bank now owns 41,091 shares of the company’s stock valued at $3,224,000 after purchasing an additional 2,499 shares during the period. Finally, LVW Advisors LLC acquired a new position in shares of Principal Financial Group in the second quarter valued at approximately $262,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Trading Up 0.8 %

PFG opened at $84.40 on Friday. The firm has a market cap of $19.30 billion, a price-to-earnings ratio of -93.78, a price-to-earnings-growth ratio of 0.99 and a beta of 1.20. Principal Financial Group, Inc. has a 52 week low of $72.21 and a 52 week high of $91.97. The business’s 50 day moving average is $86.31 and its two-hundred day moving average is $82.48. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Thursday, October 24th. The company reported $1.76 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.26). Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. The business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter last year, the company earned $1.72 EPS. On average, research analysts predict that Principal Financial Group, Inc. will post 7.04 EPS for the current year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be issued a $0.73 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.46%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s payout ratio is presently -324.44%.

Wall Street Analyst Weigh In

Several brokerages have commented on PFG. Morgan Stanley reissued an “underweight” rating and issued a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a research report on Thursday. Barclays lifted their target price on Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Royal Bank of Canada upped their price target on Principal Financial Group from $87.00 to $91.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 19th. Piper Sandler boosted their price objective on Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company upped their target price on shares of Principal Financial Group from $85.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $85.67.

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.