Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lowered its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 2.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,249 shares of the company’s stock after selling 408 shares during the period. Kentucky Retirement Systems’ holdings in Principal Financial Group were worth $1,275,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC boosted its stake in Principal Financial Group by 7.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 23,150 shares of the company’s stock worth $1,796,000 after purchasing an additional 1,509 shares during the period. Argent Trust Co boosted its stake in Principal Financial Group by 6.6% during the 2nd quarter. Argent Trust Co now owns 28,467 shares of the company’s stock worth $2,233,000 after purchasing an additional 1,772 shares during the period. Denali Advisors LLC boosted its stake in Principal Financial Group by 61.7% during the 2nd quarter. Denali Advisors LLC now owns 10,748 shares of the company’s stock worth $843,000 after purchasing an additional 4,100 shares during the period. Dimensional Fund Advisors LP boosted its stake in Principal Financial Group by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,905,124 shares of the company’s stock worth $306,393,000 after purchasing an additional 39,854 shares during the period. Finally, Massachusetts Financial Services Co. MA acquired a new stake in Principal Financial Group during the 2nd quarter worth $19,698,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

NYSE:PFG opened at $85.61 on Friday. 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 price of $80.23 and a two-hundred day moving average price of $80.99. Principal Financial Group, Inc. has a twelve month low of $66.21 and a twelve month high of $88.26. The company has a market capitalization 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.

Principal Financial Group (NYSE:PFG) last posted its earnings results on Thursday, July 25th. The company reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.87 by ($0.24). Principal Financial Group had a net margin of 8.05% and a return on equity of 14.92%. The business had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter last year, the business posted $1.53 earnings per share. As a group, research analysts expect that Principal Financial Group, Inc. will post 7.31 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, September 5th will be issued a dividend of $0.72 per share. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend is Thursday, September 5th. Principal Financial Group’s dividend payout ratio (DPR) is 54.96%.

Analyst Ratings Changes

PFG has been the subject of several recent analyst reports. Bank of America raised their target price on shares of Principal Financial Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $88.00 to $96.00 in a research note on Tuesday, July 2nd. Citigroup raised 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. Jefferies Financial Group raised their target price on shares of Principal Financial Group from $73.00 to $76.00 and gave the stock a “hold” rating in a research note on Thursday, July 18th. Finally, Morgan Stanley reduced their target price on shares of 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 equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Principal Financial Group currently has an average rating of “Hold” and a consensus target price of $85.50.

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.