Public Sector Pension Investment Board Purchases 500 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Public Sector Pension Investment Board boosted its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 1.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,141 shares of the company’s stock after purchasing an additional 500 shares during the period. Public Sector Pension Investment Board’s holdings in Principal Financial Group were worth $3,190,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Acadian Asset Management LLC lifted its stake in Principal Financial Group by 403.6% in the 2nd quarter. Acadian Asset Management LLC now owns 354,447 shares of the company’s stock valued at $27,800,000 after purchasing an additional 284,067 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Principal Financial Group during the 2nd quarter valued at $19,698,000. Bank of Montreal Can grew its position in Principal Financial Group by 41.0% during the 3rd quarter. Bank of Montreal Can now owns 503,735 shares of the company’s stock worth $43,367,000 after acquiring an additional 146,473 shares during the last quarter. Mizuho Securities USA LLC increased its holdings in Principal Financial Group by 818.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 152,648 shares of the company’s stock worth $13,112,000 after purchasing an additional 136,021 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in 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 purchasing an additional 130,225 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Stock Down 0.7 %

PFG stock opened at $84.80 on Wednesday. The stock’s 50 day simple moving average is $86.39 and its 200 day simple moving average is $82.45. The company has a market cap of $19.40 billion, a P/E ratio of -94.22, a price-to-earnings-growth ratio of 1.00 and a beta of 1.20. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. Principal Financial Group, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $91.97.

Principal Financial Group (NYSE:PFG) last issued its earnings results on Thursday, October 24th. The company reported $1.76 earnings per share (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 positive return on equity of 14.67% and a negative net margin of 1.47%. During the same quarter in the prior year, the business earned $1.72 earnings per share. On average, 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 disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.73 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.72. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend is Monday, December 2nd. Principal Financial Group’s dividend payout ratio (DPR) is currently -324.44%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Morgan Stanley reduced their price target on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Royal Bank of Canada upped their price target on shares of Principal Financial Group from $87.00 to $91.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 19th. Barclays lifted their price target on shares of Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Bank of America decreased their price objective on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Finally, Wells Fargo & Company lifted their target price 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. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $85.92.

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.