Stifel Financial Corp Reduces Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Stifel Financial Corp decreased its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 14.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,108 shares of the company’s stock after selling 2,364 shares during the period. Stifel Financial Corp’s holdings in Principal Financial Group were worth $1,212,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Strategic Financial Concepts LLC purchased a new position in Principal Financial Group in the 2nd quarter worth about $32,000. Peterson Financial Group Inc. bought a new position in Principal Financial Group in the 3rd quarter worth about $33,000. Innealta Capital LLC purchased a new position in shares of Principal Financial Group during the second quarter worth approximately $43,000. Truvestments Capital LLC bought a new stake in shares of Principal Financial Group during the third quarter valued at approximately $43,000. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Principal Financial Group in the third quarter valued at approximately $45,000. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Price Performance

NYSE PFG opened at $77.30 on Monday. The firm’s fifty day simple moving average is $84.74 and its two-hundred day simple moving average is $82.27. The firm has a market capitalization of $17.68 billion, a P/E ratio of -85.89, a P/E/G ratio of 0.92 and a beta of 1.20. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.97.

Principal Financial Group (NYSE:PFG) last announced its earnings results on Thursday, October 24th. The company reported $1.76 earnings per share for the quarter, missing the consensus estimate of $2.02 by ($0.26). Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. The business had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter last year, the firm earned $1.72 earnings per share. Analysts forecast that Principal Financial Group, Inc. will post 7.03 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were paid a $0.73 dividend. The ex-dividend date of this dividend was 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 3.78%. Principal Financial Group’s dividend payout ratio (DPR) is -324.44%.

Analysts Set New Price Targets

Several research firms have commented on PFG. Morgan Stanley restated an “underweight” rating and set a $80.00 price objective (down from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Wells Fargo & Company restated an “underweight” rating and issued a $75.00 price objective (down from $84.00) on shares of Principal Financial Group in a report on Wednesday, December 11th. Bank of America dropped their target price on shares of Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Barclays boosted their price target on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Finally, Royal Bank of Canada increased 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. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $84.75.

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.