JPMorgan Chase & Co. Raises Holdings in Principal Financial Group, Inc. (NYSE:PFG)

JPMorgan Chase & Co. grew its position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 5.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,462,562 shares of the company's stock after purchasing an additional 118,722 shares during the period. JPMorgan Chase & Co. owned approximately 1.08% of Principal Financial Group worth $211,534,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PFG. Dimensional Fund Advisors LP raised its holdings in shares of Principal Financial Group by 1.0% during 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. Charles Schwab Investment Management Inc. raised its stake in Principal Financial Group by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,403,689 shares of the company's stock valued at $120,577,000 after purchasing an additional 18,801 shares in the last quarter. Barclays PLC lifted its position in Principal Financial Group by 12.3% during the third quarter. Barclays PLC now owns 806,672 shares of the company's stock valued at $69,293,000 after purchasing an additional 88,179 shares during the last quarter. AustralianSuper Pty Ltd grew its stake in shares of Principal Financial Group by 27.2% in the 3rd quarter. AustralianSuper Pty Ltd now owns 540,212 shares of the company's stock worth $46,404,000 after buying an additional 115,569 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Principal Financial Group by 41.0% in the 3rd quarter. Bank of Montreal Can now owns 503,735 shares of the company's stock worth $43,367,000 after buying an additional 146,473 shares during the last quarter. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Trading Up 0.2 %

PFG stock traded up $0.18 during mid-day trading on Tuesday, reaching $77.41. The company had a trading volume of 517,392 shares, compared to its average volume of 1,147,152. The firm has a 50 day moving average of $82.97 and a 200 day moving average of $82.26. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. Principal Financial Group, Inc. has a 12 month low of $72.21 and a 12 month high of $91.97. The company has a market capitalization of $17.71 billion, a PE ratio of -86.01, a price-to-earnings-growth ratio of 0.92 and a beta of 1.20.

Principal Financial Group (NYSE:PFG - Get Free Report) last released 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 for the quarter, compared to analysts' expectations of $3.92 billion. During the same quarter in the previous year, the business earned $1.72 earnings per share. On average, equities analysts predict that Principal Financial Group, Inc. will post 7.03 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were issued a $0.73 dividend. This is an increase from Principal Financial Group's previous quarterly dividend of $0.72. This represents a $2.92 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend was Monday, December 2nd. Principal Financial Group's payout ratio is presently -324.44%.

Wall Street Analyst Weigh In

Several research firms recently commented on PFG. Morgan Stanley reiterated an "underweight" rating and issued a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Royal Bank of Canada boosted their target price on Principal Financial Group from $87.00 to $91.00 and gave the company a "sector perform" rating in a research report on Tuesday, November 19th. 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 research report on Thursday, October 10th. Piper Sandler raised shares of Principal Financial Group from a "neutral" rating to an "overweight" rating and set a $90.00 target price on the stock in a research note on Wednesday, December 18th. Finally, Wells Fargo & Company restated an "underweight" rating and issued a $75.00 target price (down previously from $84.00) on shares of Principal Financial Group in a report on Wednesday, December 11th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price 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.