Amalgamated Bank Cuts Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Amalgamated Bank decreased its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 9.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,163 shares of the company’s stock after selling 6,348 shares during the period. Amalgamated Bank’s holdings in Principal Financial Group were worth $4,798,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Argent Trust Co lifted its holdings in shares of Principal Financial Group by 6.6% during the 2nd quarter. Argent Trust Co now owns 28,467 shares of the company’s stock valued at $2,233,000 after purchasing an additional 1,772 shares during the last quarter. Denali Advisors LLC raised its stake in Principal Financial Group by 61.7% in the second quarter. Denali Advisors LLC now owns 10,748 shares of the company’s stock valued at $843,000 after buying an additional 4,100 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Principal Financial Group by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,905,124 shares of the company’s stock valued at $306,393,000 after buying an additional 39,854 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Principal Financial Group in the second quarter worth about $19,698,000. Finally, Brown Brothers Harriman & Co. grew its stake in shares of Principal Financial Group by 964.1% during the second quarter. Brown Brothers Harriman & Co. now owns 2,788 shares of the company’s stock worth $219,000 after acquiring an additional 2,526 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Trading Down 0.0 %

Shares of Principal Financial Group stock opened at $85.61 on Friday. Principal Financial Group, Inc. has a fifty-two week low of $66.21 and a fifty-two week high of $88.26. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market cap of $19.83 billion, a P/E ratio of 16.34, a price-to-earnings-growth ratio of 0.87 and a beta of 1.19. The firm has a 50-day simple moving average of $80.23 and a two-hundred day simple moving average of $80.99.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results 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 business had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Principal Financial Group had a return on equity of 14.92% and a net margin of 8.05%. During the same quarter in the prior year, the company posted $1.53 EPS. As a group, equities analysts predict that Principal Financial Group, Inc. will post 7.31 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 Friday, September 27th. Investors of record on Thursday, September 5th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.36%. The ex-dividend date is Thursday, September 5th. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.71. Principal Financial Group’s payout ratio is presently 54.96%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Citigroup lifted their target price on shares of 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. raised shares of Principal Financial Group from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $88.00 to $96.00 in a report on Tuesday, July 2nd. Bank of America raised their target price on Principal Financial Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Barclays began coverage on Principal Financial Group in a research note on Wednesday, September 4th. They set an “underweight” rating and a $74.00 price target on the stock. Finally, Morgan Stanley reduced their price objective on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. 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 company’s stock. Based on data from MarketBeat, Principal Financial Group currently has a consensus rating of “Hold” and an average 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.