State Street Corp cut its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG – Free Report) by 0.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,540,838 shares of the company’s stock after selling 17,312 shares during the quarter. State Street Corp’s holdings in Principal Financial Group were worth $819,558,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in PFG. Farther Finance Advisors LLC raised its position in shares of 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 raised its holdings in 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 acquiring an additional 138 shares during the period. Graypoint LLC lifted its position in shares of Principal Financial Group by 5.6% during the second quarter. Graypoint LLC now owns 2,654 shares of the company’s stock worth $208,000 after acquiring an additional 140 shares in the last quarter. Prime Capital Investment Advisors LLC boosted its holdings in shares of Principal Financial Group by 2.3% in the third quarter. Prime Capital Investment Advisors LLC now owns 6,358 shares of the company’s stock worth $546,000 after acquiring an additional 142 shares during the period. Finally, Empirical Finance LLC grew its position in shares of Principal Financial Group by 1.8% in the third quarter. Empirical Finance LLC now owns 7,875 shares of the company’s stock valued at $676,000 after purchasing an additional 142 shares in the last quarter. 75.08% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on PFG. Wells Fargo & Company increased their price objective on Principal Financial Group from $85.00 to $86.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Bank of America lowered their price target 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. Morgan Stanley reaffirmed an “underweight” rating and set a $80.00 price objective (down previously from $86.00) on shares of Principal Financial Group in a research note on Thursday. Royal Bank of Canada increased their target price on shares of Principal Financial Group from $87.00 to $91.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 19th. Finally, 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 research report on Friday, October 25th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Principal Financial Group has a consensus rating of “Hold” and a consensus price target of $85.67.
Principal Financial Group Stock Up 0.8 %
PFG opened at $84.40 on Friday. The business’s fifty day simple moving average is $86.31 and its 200 day simple moving average is $82.48. Principal Financial Group, Inc. has a 52 week low of $72.21 and a 52 week high of $91.97. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. The stock has a market cap of $19.30 billion, a PE ratio of -93.78, a P/E/G ratio of 0.99 and a beta of 1.20.
Principal Financial Group (NYSE:PFG – Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The company reported $1.76 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.26). The firm had revenue of $3.01 billion for 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 last year, the company posted $1.72 earnings per share. As a group, research analysts expect that Principal Financial Group, Inc. will post 7.04 earnings per share for the current fiscal year.
Principal Financial Group Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.73 per share. The ex-dividend date is Monday, December 2nd. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. This represents a $2.92 annualized dividend and a dividend yield of 3.46%. Principal Financial Group’s dividend payout ratio (DPR) is -324.44%.
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.
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