Principal Financial Group, Inc. (NYSE:PFG) Holdings Raised by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its holdings in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,403,689 shares of the company's stock after purchasing an additional 18,801 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.61% of Principal Financial Group worth $120,577,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PFG. Blackhawk Capital Partners LLC. bought a new stake in shares of Principal Financial Group during the 3rd quarter valued at about $209,000. Massachusetts Financial Services Co. MA boosted its stake in Principal Financial Group by 85.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 466,133 shares of the company's stock valued at $40,041,000 after acquiring an additional 215,045 shares during the period. Prospera Private Wealth LLC bought a new position in shares of Principal Financial Group during the third quarter valued at approximately $45,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Principal Financial Group during the 3rd quarter worth approximately $2,441,000. Finally, S&CO Inc. bought a new stake in shares of Principal Financial Group in the 3rd quarter worth approximately $214,000. Institutional investors own 75.08% of the company's stock.

Principal Financial Group Price Performance

NYSE PFG traded down $0.25 on Tuesday, reaching $86.79. 931,819 shares of the stock traded hands, compared to its average volume of 1,143,588. Principal Financial Group, Inc. has a 12 month low of $71.39 and a 12 month high of $91.97. 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's fifty day simple moving average is $86.28 and its 200 day simple moving average is $82.39. The company has a market cap of $19.85 billion, a price-to-earnings ratio of -96.43, a P/E/G ratio of 1.00 and a beta of 1.20.

Principal Financial Group (NYSE:PFG - Get Free Report) last released 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 positive return on equity of 14.67% and a negative net margin of 1.47%. The firm had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the firm earned $1.72 earnings per share. As a group, research analysts predict that Principal Financial Group, Inc. will post 7.04 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be paid a dividend of $0.73 per share. The ex-dividend date is Monday, December 2nd. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.72. This represents a $2.92 annualized dividend and a yield of 3.36%. Principal Financial Group's dividend payout ratio is currently -320.00%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Bank of America lowered their price objective on Principal Financial Group from $94.00 to $91.00 and set a "neutral" rating for the company in a research note on Thursday, October 10th. Piper Sandler increased their price objective on shares of Principal Financial Group from $85.00 to $90.00 and gave the stock a "neutral" rating in a report on Wednesday, October 2nd. Wells Fargo & Company boosted 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 note on Thursday, October 10th. Royal Bank of Canada raised 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 note on Tuesday, November 19th. Finally, Keefe, Bruyette & Woods decreased their price objective on Principal Financial Group from $88.00 to $86.00 and set a "market perform" rating for the company in a report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Principal Financial Group currently 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.