Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Focus Partners Wealth

Focus Partners Wealth cut its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 84.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 11,109 shares of the company’s stock after selling 58,727 shares during the period. Focus Partners Wealth’s holdings in Principal Financial Group were worth $860,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Leavell Investment Management Inc. raised its position in Principal Financial Group by 5.4% during the fourth quarter. Leavell Investment Management Inc. now owns 2,693 shares of the company’s stock worth $208,000 after acquiring an additional 138 shares during the period. CENTRAL TRUST Co raised its position in Principal Financial Group by 9.6% during the fourth quarter. CENTRAL TRUST Co now owns 1,730 shares of the company’s stock worth $134,000 after acquiring an additional 151 shares during the period. Cidel Asset Management Inc. raised its position in Principal Financial Group by 6.3% during the fourth quarter. Cidel Asset Management Inc. now owns 2,636 shares of the company’s stock worth $204,000 after acquiring an additional 156 shares during the period. Hartford Funds Management Co LLC raised its position in shares of Principal Financial Group by 1.5% in the fourth quarter. Hartford Funds Management Co LLC now owns 11,241 shares of the company’s stock valued at $870,000 after buying an additional 161 shares during the last quarter. Finally, Argent Trust Co raised its position in shares of Principal Financial Group by 0.6% in the fourth quarter. Argent Trust Co now owns 29,345 shares of the company’s stock valued at $2,272,000 after buying an additional 161 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Stock Up 0.2%

Shares of NYSE PFG opened at $81.55 on Monday. The stock has a market cap of $18.28 billion, a P/E ratio of 12.21, a PEG ratio of 0.76 and a beta of 1.01. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a 12-month low of $68.39 and a 12-month high of $91.98. The business’s fifty day simple moving average is $78.08 and its 200-day simple moving average is $81.08.

Principal Financial Group (NYSE:PFG) last posted its earnings results on Monday, April 28th. The company reported $1.81 EPS for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.02). Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%. During the same period last year, the firm posted $1.65 EPS. As a group, equities analysts predict that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.73%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.75. Principal Financial Group’s payout ratio is 65.10%.

Analyst Ratings Changes

A number of brokerages have recently commented on PFG. BMO Capital Markets began coverage on shares of Principal Financial Group in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $93.00 target price for the company. UBS Group cut their target price on Principal Financial Group from $93.00 to $80.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. Barclays reduced their price target on Principal Financial Group from $80.00 to $76.00 and set an “underweight” rating on the stock in a report on Friday, April 11th. Piper Sandler upped their price objective on shares of Principal Financial Group from $93.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Principal Financial Group from $86.00 to $87.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 7th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $83.54.

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.