Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt cut its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 27.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 782 shares of the company’s stock after selling 300 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Principal Financial Group were worth $61,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Independent Advisor Alliance increased its position in Principal Financial Group by 11.4% in the 4th quarter. Independent Advisor Alliance now owns 5,130 shares of the company’s stock valued at $404,000 after acquiring an additional 524 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of Principal Financial Group by 12.3% during the fourth quarter. Hsbc Holdings PLC now owns 1,360,338 shares of the company’s stock worth $107,030,000 after purchasing an additional 149,353 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Principal Financial Group by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,311,223 shares of the company’s stock worth $103,154,000 after purchasing an additional 29,462 shares during the period. State Board of Administration of Florida Retirement System grew its position in Principal Financial Group by 6.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 296,889 shares of the company’s stock valued at $25,624,000 after buying an additional 18,368 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in Principal Financial Group by 108.1% in the 1st quarter. Cetera Investment Advisers now owns 53,579 shares of the company’s stock valued at $4,624,000 after buying an additional 27,827 shares during the period. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Stock Down 0.2 %

NYSE PFG traded down $0.15 during trading hours on Monday, reaching $74.63. 322,928 shares of the company traded hands, compared to its average volume of 1,128,096. The stock has a market capitalization of $17.49 billion, a PE ratio of 14.29, a PEG ratio of 0.81 and a beta of 1.21. The company has a 50 day moving average of $80.08 and a two-hundred day moving average of $80.97. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a 12 month low of $66.21 and a 12 month high of $88.26.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings data 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). The business had revenue of $4.31 billion for the quarter, compared to analyst estimates 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 last year, the company earned $1.53 EPS. As a group, equities analysts expect that Principal Financial Group, Inc. will post 7.33 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Thursday, September 5th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.86%. 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 dividend payout ratio (DPR) is currently 54.96%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Raymond James raised shares of Principal Financial Group from a “market perform” rating to a “strong-buy” rating and set a $99.00 target price on the stock in a report on Tuesday, July 9th. Morgan Stanley boosted their target price on Principal Financial Group from $81.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Wells Fargo & Company reduced their price target on shares of Principal Financial Group from $87.00 to $85.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. Keefe, Bruyette & Woods decreased their target price on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. raised Principal Financial Group from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $88.00 to $96.00 in a research note on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.