Franklin Resources Inc. Grows Position in Principal Financial Group, Inc. (NYSE:PFG)

Franklin Resources Inc. lifted its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 16.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 84,378 shares of the company's stock after purchasing an additional 11,868 shares during the period. Franklin Resources Inc.'s holdings in Principal Financial Group were worth $7,570,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in shares of Principal Financial Group by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,905,124 shares of the company's stock worth $306,393,000 after acquiring an additional 39,854 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Principal Financial Group by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 1,903,138 shares of the company's stock valued at $149,301,000 after purchasing an additional 53,516 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Principal Financial Group by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,403,689 shares of the company's stock worth $120,577,000 after purchasing an additional 18,801 shares in the last quarter. Barclays PLC grew its stake in shares of Principal Financial Group by 12.3% in the 3rd quarter. Barclays PLC now owns 806,672 shares of the company's stock worth $69,293,000 after buying an additional 88,179 shares during the last quarter. Finally, AustralianSuper Pty Ltd increased its position in Principal Financial Group by 27.2% during the 3rd quarter. AustralianSuper Pty Ltd now owns 540,212 shares of the company's stock valued at $46,404,000 after buying an additional 115,569 shares in the last quarter. Hedge funds and other institutional investors own 75.08% of the company's stock.

Principal Financial Group Stock Performance

NYSE:PFG traded up $0.10 during trading hours on Monday, reaching $77.40. The company had a trading volume of 900,094 shares, compared to its average volume of 1,159,987. The firm has a market cap of $17.70 billion, a price-to-earnings ratio of -86.00, a PEG ratio of 0.92 and a beta of 1.20. 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 firm's 50 day moving average price is $84.74 and its 200-day moving average price is $82.29. Principal Financial Group, Inc. has a 52 week low of $72.21 and a 52 week high of $91.97.

Principal Financial Group (NYSE:PFG - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the previous year, the firm earned $1.72 EPS. On average, analysts forecast that Principal Financial Group, Inc. will post 7.03 EPS for the current year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd were given a dividend of $0.73 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.92 annualized dividend and a dividend yield of 3.77%. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.72. Principal Financial Group's dividend payout ratio is presently -324.44%.

Analysts Set New Price Targets

Several research firms have commented on PFG. Royal Bank of Canada boosted their target price on Principal Financial Group from $87.00 to $91.00 and gave the stock a "sector perform" rating in a report on Tuesday, November 19th. Bank of America cut their price objective on shares of Principal Financial Group from $94.00 to $91.00 and set a "neutral" rating on the stock in a research report on Thursday, October 10th. Wells Fargo & Company reaffirmed an "underweight" rating and issued a $75.00 target price (down from $84.00) on shares of Principal Financial Group in a report on Wednesday, December 11th. Piper Sandler upgraded shares of Principal Financial Group from a "neutral" rating to an "overweight" rating and set a $90.00 price target on the stock in a report on Wednesday, December 18th. Finally, Barclays raised their price target on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an "underweight" rating in a research report on Friday, October 25th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Principal Financial Group presently has a consensus rating of "Hold" and an average price target of $84.75.

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.