Principal Financial Group, Inc. (NYSE:PFG) Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 1.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,705 shares of the company’s stock after buying an additional 257 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Principal Financial Group were worth $2,036,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC grew its holdings in Principal Financial Group by 2.2% in the second quarter. Farther Finance Advisors LLC now owns 6,325 shares of the company’s stock valued at $493,000 after purchasing an additional 135 shares during the period. Ballentine Partners LLC grew its stake in shares of Principal Financial Group by 5.0% during the 2nd quarter. Ballentine Partners LLC now owns 2,906 shares of the company’s stock valued at $228,000 after buying an additional 138 shares during the period. Graypoint LLC increased its holdings in shares of Principal Financial Group by 5.6% during the 2nd quarter. Graypoint LLC now owns 2,654 shares of the company’s stock worth $208,000 after buying an additional 140 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Principal Financial Group by 18.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 930 shares of the company’s stock worth $76,000 after buying an additional 143 shares during the last quarter. Finally, Legacy Financial Advisors Inc. raised its position in shares of Principal Financial Group by 2.7% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 5,575 shares of the company’s stock worth $437,000 after buying an additional 145 shares during the period. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Barclays upped their price target on Principal Financial Group from $74.00 to $75.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 9th. Citigroup raised their price target on shares of Principal Financial Group from $68.00 to $70.00 and gave the company a “sell” rating in a report on Tuesday, July 23rd. Morgan Stanley decreased their price objective 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. Royal Bank of Canada increased their price objective on shares of Principal Financial Group from $83.00 to $87.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating on the stock in a report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Principal Financial Group has a consensus rating of “Hold” and an average target price of $85.42.

Principal Financial Group Stock Down 0.9 %

Shares of Principal Financial Group stock opened at $89.65 on Tuesday. Principal Financial Group, Inc. has a 1-year low of $66.21 and a 1-year high of $91.97. The company has a market capitalization of $21.01 billion, a PE ratio of 17.11, a P/E/G ratio of 0.96 and a beta of 1.19. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.29. The business has a 50-day moving average of $83.05 and a 200-day moving average of $81.58.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data 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). 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 analyst estimates of $3.78 billion. During the same quarter last year, the business earned $1.53 EPS. As a group, equities analysts forecast that Principal Financial Group, Inc. will post 7.31 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Thursday, September 5th were paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date was 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 54.96%.

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.