National Bank of Canada FI Has $11.06 Million Stake in Principal Financial Group, Inc. (NYSE:PFG)

National Bank of Canada FI raised its stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 61.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,755 shares of the company's stock after purchasing an additional 49,070 shares during the quarter. National Bank of Canada FI owned about 0.06% of Principal Financial Group worth $11,060,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PFG. Sequoia Financial Advisors LLC lifted its position in shares of Principal Financial Group by 14.7% during the second quarter. Sequoia Financial Advisors LLC now owns 2,864 shares of the company's stock worth $225,000 after purchasing an additional 366 shares during the last quarter. Wedmont Private Capital boosted its position in Principal Financial Group by 9.9% during the 2nd quarter. Wedmont Private Capital now owns 2,776 shares of the company's stock valued at $236,000 after purchasing an additional 250 shares during the period. M&G Plc bought a new position in Principal Financial Group during the 2nd quarter worth $939,000. V Square Quantitative Management LLC increased its position in Principal Financial Group by 8.4% in the second quarter. V Square Quantitative Management LLC now owns 6,758 shares of the company's stock worth $530,000 after buying an additional 522 shares during the period. Finally, ORG Partners LLC lifted its stake in Principal Financial Group by 334.8% in the second quarter. ORG Partners LLC now owns 787 shares of the company's stock valued at $62,000 after buying an additional 606 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company's stock.

Principal Financial Group Trading Down 1.1 %

Shares of Principal Financial Group stock traded down $0.90 on Wednesday, reaching $79.84. 1,930,707 shares of the company were exchanged, compared to its average volume of 1,142,578. Principal Financial Group, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $91.97. The firm has a market capitalization of $18.26 billion, a price-to-earnings ratio of -88.53, a price-to-earnings-growth ratio of 0.98 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 stock has a fifty day moving average price of $86.16 and a 200-day moving average price of $82.47.

Principal Financial Group (NYSE:PFG - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The company reported $1.76 earnings per share (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 business had revenue of $3.01 billion during the quarter, compared to analysts' expectations of $3.92 billion. During the same period in the prior year, the company posted $1.72 earnings per share. On average, analysts expect that Principal Financial Group, Inc. will post 7.03 EPS for the current year.

Principal Financial Group Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend 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 dividend on an annualized basis and a dividend yield of 3.66%. Principal Financial Group's payout ratio is presently -324.44%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PFG. Royal Bank of Canada boosted their target price 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. Barclays lifted their target price on Principal Financial Group from $75.00 to $77.00 and gave the company an "underweight" rating in a research note on Friday, October 25th. Wells Fargo & Company reissued an "underweight" rating and issued a $75.00 price target (down previously from $84.00) on shares of Principal Financial Group in a research note on Wednesday. Piper Sandler lifted their price objective on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a "neutral" rating in a research note on Wednesday, October 2nd. Finally, Bank of America decreased their target price on shares of 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. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Principal Financial Group has an average rating of "Hold" and an average price target of $84.75.

Principal Financial Group Company 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.