Massachusetts Financial Services Co. MA Raises Stake in Principal Financial Group, Inc. (NYSE:PFG)

Massachusetts Financial Services Co. MA lifted its holdings in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 85.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 466,133 shares of the company's stock after acquiring an additional 215,045 shares during the period. Massachusetts Financial Services Co. MA owned 0.20% of Principal Financial Group worth $40,041,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. EdgeRock Capital LLC bought a new stake in shares of Principal Financial Group in the second quarter worth about $26,000. Strategic Financial Concepts LLC bought a new position in shares of Principal Financial Group during the 2nd quarter valued at approximately $32,000. Family Firm Inc. purchased a new position in shares of Principal Financial Group in the second quarter valued at $33,000. Peterson Financial Group Inc. bought a new stake in Principal Financial Group in the third quarter worth $33,000. Finally, Innealta Capital LLC purchased a new stake in Principal Financial Group during the second quarter valued at $43,000. Hedge funds and other institutional investors own 75.08% of the company's stock.

Principal Financial Group Stock Up 1.4 %

Principal Financial Group stock traded up $1.17 during midday trading on Monday, hitting $86.90. 715,135 shares of the company's stock were exchanged, compared to its average volume of 1,138,576. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market cap of $19.88 billion, a PE ratio of 12.48, a P/E/G ratio of 1.00 and a beta of 1.20. The firm has a 50-day moving average of $86.12 and a two-hundred day moving average of $82.34. Principal Financial Group, Inc. has a 12 month low of $71.39 and a 12 month high of $91.97.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its quarterly 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 during the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the previous year, the firm posted $1.72 earnings per share. As a group, analysts expect that Principal Financial Group, Inc. will post 7.04 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be issued a $0.73 dividend. 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%. The ex-dividend date of this dividend is Monday, December 2nd. Principal Financial Group's payout ratio is currently -320.00%.

Analyst Ratings Changes

PFG has been the topic of a number of research reports. Piper Sandler boosted their target price 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. Keefe, Bruyette & Woods cut their target price on Principal Financial Group from $88.00 to $86.00 and set a "market perform" rating on the stock in a research report on Tuesday, July 30th. Bank of America dropped their price objective on shares of 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. Barclays raised their target price on shares of Principal Financial Group from $75.00 to $77.00 and gave the stock an "underweight" rating in a report on Friday, October 25th. Finally, Wells Fargo & Company upped their price target on shares of Principal Financial Group from $85.00 to $86.00 and gave the company an "equal weight" rating in a report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus 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.