Blueshift Asset Management LLC Sells 6,004 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Blueshift Asset Management LLC lessened its stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 59.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,059 shares of the company's stock after selling 6,004 shares during the quarter. Blueshift Asset Management LLC's holdings in Principal Financial Group were worth $349,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. EdgeRock Capital LLC acquired a new position in shares of Principal Financial Group in the 2nd quarter worth approximately $26,000. Strategic Financial Concepts LLC acquired a new position in shares of Principal Financial Group in the 2nd quarter worth approximately $32,000. Family Firm Inc. acquired a new position in shares of Principal Financial Group in the 2nd quarter worth approximately $33,000. Peterson Financial Group Inc. acquired a new position in shares of Principal Financial Group in the 3rd quarter worth approximately $33,000. Finally, Innealta Capital LLC acquired a new position in shares of Principal Financial Group in the 2nd quarter worth approximately $43,000. Institutional investors own 75.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PFG. Wells Fargo & Company raised their price target on Principal Financial Group from $85.00 to $86.00 and gave the company an "equal weight" rating in a report on Thursday, October 10th. Bank of America dropped their price target 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. Royal Bank of Canada raised their price target on Principal Financial Group from $87.00 to $91.00 and gave the company a "sector perform" rating in a report on Tuesday, November 19th. Piper Sandler raised their price target on Principal Financial Group from $85.00 to $90.00 and gave the company a "neutral" rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley decreased their price objective on Principal Financial Group from $85.00 to $83.00 and set an "equal weight" rating on the stock in a research report on Monday, August 19th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $85.92.

Principal Financial Group Trading Down 0.2 %

Shares of NYSE:PFG traded down $0.19 during midday trading on Friday, hitting $87.09. The company had a trading volume of 559,610 shares, compared to its average volume of 1,139,113. Principal Financial Group, Inc. has a 12 month low of $72.21 and a 12 month high of $91.97. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. The stock has a market cap of $19.92 billion, a price-to-earnings ratio of -96.77, a PEG ratio of 1.02 and a beta of 1.20. The firm has a fifty day simple moving average of $86.38 and a 200 day simple moving average of $82.45.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The company reported $1.76 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same period in the prior year, the business earned $1.72 EPS. On average, analysts predict that Principal Financial Group, Inc. will post 7.04 EPS for the current 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 given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Principal Financial Group's previous quarterly dividend of $0.72. Principal Financial Group's payout ratio is -320.00%.

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.