Mutual of America Capital Management LLC Has $2.25 Million Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Mutual of America Capital Management LLC lowered its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 3.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,238 shares of the company’s stock after selling 955 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Principal Financial Group were worth $2,254,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC grew its position in Principal Financial Group by 403.6% during the 2nd quarter. Acadian Asset Management LLC now owns 354,447 shares of the company’s stock worth $27,800,000 after acquiring an additional 284,067 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Principal Financial Group during the second quarter worth $19,698,000. Swedbank AB bought a new stake in shares of Principal Financial Group during the first quarter worth $13,996,000. Mizuho Securities USA LLC increased its stake in shares of Principal Financial Group by 818.1% in the third quarter. Mizuho Securities USA LLC now owns 152,648 shares of the company’s stock valued at $13,112,000 after buying an additional 136,021 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of Principal Financial Group by 6,593.7% in the third quarter. International Assets Investment Management LLC now owns 132,200 shares of the company’s stock valued at $11,356,000 after buying an additional 130,225 shares during the last quarter. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Stock Up 1.2 %

Shares of NYSE:PFG opened at $85.73 on Monday. The company has a 50 day moving average price of $86.12 and a two-hundred day moving average price of $82.34. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market capitalization of $19.61 billion, a PE ratio of -95.25, a PEG ratio of 0.99 and a beta of 1.20. Principal Financial Group, Inc. has a 52 week low of $71.39 and a 52 week high of $91.97.

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

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be given a $0.73 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. This represents a $2.92 annualized dividend and a dividend yield of 3.41%. Principal Financial Group’s payout ratio is currently -320.00%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PFG shares. Piper Sandler raised their price objective on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada boosted their price objective on shares of Principal Financial Group from $87.00 to $91.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 19th. Wells Fargo & Company increased their price objective on Principal Financial Group from $85.00 to $86.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Barclays boosted their target price on Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Finally, Morgan Stanley lowered 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 report on Monday, August 19th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $85.92.

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.