28,419 Shares in Principal Financial Group, Inc. (NYSE:PFG) Purchased by B. Metzler seel. Sohn & Co. Holding AG

B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 28,419 shares of the company's stock, valued at approximately $2,441,000.

Other hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC increased its holdings 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 last quarter. Ballentine Partners LLC raised its holdings in shares of Principal Financial Group by 5.0% during the 2nd quarter. Ballentine Partners LLC now owns 2,906 shares of the company's stock worth $228,000 after acquiring an additional 138 shares during the period. Graypoint LLC grew its holdings in shares of Principal Financial Group by 5.6% in the second quarter. Graypoint LLC now owns 2,654 shares of the company's stock valued at $208,000 after purchasing an additional 140 shares during the period. Prime Capital Investment Advisors LLC increased its position in Principal Financial Group by 2.3% during the third quarter. Prime Capital Investment Advisors LLC now owns 6,358 shares of the company's stock worth $546,000 after purchasing an additional 142 shares during the last quarter. Finally, Empirical Finance LLC raised its stake in Principal Financial Group by 1.8% during the third quarter. Empirical Finance LLC now owns 7,875 shares of the company's stock worth $676,000 after purchasing an additional 142 shares during the period. Institutional investors and hedge funds own 75.08% of the company's stock.

Principal Financial Group Stock Up 1.2 %

Shares of PFG traded up $1.03 during trading hours on Friday, reaching $85.73. The company's stock had a trading volume of 675,959 shares, compared to its average volume of 1,140,442. The company has a 50 day moving average of $86.12 and a two-hundred day moving average of $82.35. 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 firm has a market cap of $19.61 billion, a price-to-earnings ratio of -95.26, a P/E/G ratio of 0.97 and a beta of 1.20. Principal Financial Group, Inc. has a 1-year low of $71.39 and a 1-year high of $91.97.

Principal Financial Group (NYSE:PFG - Get Free Report) 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). Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period last year, the business earned $1.72 EPS. As a group, research analysts predict that Principal Financial Group, Inc. will post 7.09 EPS 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. Investors of record on Monday, December 2nd will be issued a $0.73 dividend. The ex-dividend date is Monday, December 2nd. 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 yield of 3.41%. Principal Financial Group's dividend payout ratio is currently -324.44%.

Wall Street Analyst Weigh In

A number of research firms have commented on PFG. Wells Fargo & Company upped their target price on shares of 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. Piper Sandler lifted their target price on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a "neutral" rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods decreased their price target on Principal Financial Group from $88.00 to $86.00 and set a "market perform" rating on the stock in a research note on Tuesday, July 30th. Bank of America cut their price objective on Principal Financial Group from $94.00 to $91.00 and set a "neutral" rating on the stock in a report on Thursday, October 10th. Finally, Morgan Stanley lowered their target price on Principal Financial Group from $85.00 to $83.00 and set an "equal weight" rating for the company in a report on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $85.92.

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.