BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $3.36 Million Stake in Principal Financial Group, Inc. (NYSE:PFG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its position in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 13.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,108 shares of the company's stock after selling 5,932 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Principal Financial Group were worth $3,359,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PFG. Acadian Asset Management LLC increased its position in shares of Principal Financial Group by 403.6% in the second quarter. Acadian Asset Management LLC now owns 354,447 shares of the company's stock valued at $27,800,000 after buying an additional 284,067 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Principal Financial Group during the 2nd quarter worth about $19,698,000. Bank of Montreal Can increased 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 purchasing an additional 146,473 shares in the last quarter. Mizuho Securities USA LLC increased its position in Principal Financial Group by 818.1% during 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 increased its position in Principal Financial Group by 6,593.7% during the 3rd quarter. International Assets Investment Management LLC now owns 132,200 shares of the company's stock worth $11,356,000 after purchasing an additional 130,225 shares in the last quarter. 75.08% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Stock Performance

PFG traded up $0.04 during midday trading on Wednesday, reaching $84.84. The company's stock had a trading volume of 1,018,964 shares, compared to its average volume of 1,139,796. The stock has a market cap of $19.41 billion, a P/E ratio of -94.27, a PEG ratio of 1.00 and a beta of 1.20. The company has a fifty day simple moving average of $86.39 and a 200 day simple moving average of $82.47. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. Principal Financial Group, Inc. has a twelve month low of $72.21 and a twelve month high of $91.97.

Principal Financial Group (NYSE:PFG - Get Free Report) last posted its earnings results on Thursday, October 24th. The company reported $1.76 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.26). Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter last year, the business earned $1.72 EPS. Research analysts expect that Principal Financial Group, Inc. will post 7.04 earnings per share for the current year.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be paid a $0.73 dividend. This is a boost from Principal Financial Group's previous quarterly dividend of $0.72. This represents a $2.92 annualized dividend and a dividend yield of 3.44%. The ex-dividend date is Monday, December 2nd. Principal Financial Group's dividend payout ratio (DPR) is -324.44%.

Wall Street Analysts Forecast Growth

PFG has been the subject of a number of recent research reports. Barclays lifted their price objective on Principal Financial Group from $75.00 to $77.00 and gave the stock an "underweight" rating in a research report on Friday, October 25th. Wells Fargo & Company lifted 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. Morgan Stanley lowered their price target 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. Royal Bank of Canada lifted 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. Finally, Bank of America lowered 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. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price 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.