Nisa Investment Advisors LLC reduced its holdings in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 8.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 77,446 shares of the company's stock after selling 7,115 shares during the quarter. Nisa Investment Advisors LLC's holdings in Principal Financial Group were worth $6,653,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the business. State Board of Administration of Florida Retirement System raised its stake in Principal Financial Group by 6.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 296,889 shares of the company's stock worth $25,624,000 after buying an additional 18,368 shares in the last quarter. Cetera Investment Advisers lifted its stake in shares of Principal Financial Group by 108.1% in the 1st quarter. Cetera Investment Advisers now owns 53,579 shares of the company's stock valued at $4,624,000 after purchasing an additional 27,827 shares during the period. Sei Investments Co. boosted its position in shares of Principal Financial Group by 59.4% during the first quarter. Sei Investments Co. now owns 24,275 shares of the company's stock valued at $2,095,000 after purchasing an additional 9,048 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Principal Financial Group in the first quarter worth $1,097,000. Finally, SG Americas Securities LLC grew its stake in Principal Financial Group by 57.3% in the second quarter. SG Americas Securities LLC now owns 178,635 shares of the company's stock worth $14,014,000 after purchasing an additional 65,070 shares during the period. 75.08% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
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 company a "neutral" rating in a report on Wednesday, October 2nd. Jefferies Financial Group upped their price objective on shares of Principal Financial Group from $73.00 to $76.00 and gave the stock a "hold" rating in a report on Thursday, July 18th. Raymond James raised shares of Principal Financial Group from a "market perform" rating to a "strong-buy" rating and set a $99.00 target price for the company in a research note on Tuesday, July 9th. Morgan Stanley dropped their price target on Principal Financial Group from $85.00 to $83.00 and set an "equal weight" rating on the stock in a research report on Monday, August 19th. Finally, Wells Fargo & Company raised their price objective on Principal Financial Group from $85.00 to $86.00 and gave the company an "equal weight" rating in a research report on Thursday, October 10th. Two research 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 company. According to data from MarketBeat, Principal Financial Group has a consensus rating of "Hold" and an average target price of $85.58.
View Our Latest Stock Report on PFG
Principal Financial Group Stock Performance
Shares of Principal Financial Group stock traded down $0.22 during trading on Friday, hitting $82.18. 858,110 shares of the company's stock traded hands, compared to its average volume of 1,132,561. Principal Financial Group, Inc. has a 1 year low of $67.79 and a 1 year high of $91.97. The business has a 50-day simple moving average of $84.54 and a 200-day simple moving average of $81.82. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.27 and a quick ratio of 0.29. The stock has a market capitalization of $19.03 billion, a P/E ratio of -91.31, a PEG ratio of 0.97 and a beta of 1.19.
Principal Financial Group (NYSE:PFG - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The company reported $1.76 EPS for the quarter, missing analysts' consensus estimates of $2.02 by ($0.26). The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.92 billion. Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. During the same quarter in the prior year, the firm earned $1.72 earnings per share. As a group, analysts forecast that Principal Financial Group, Inc. will post 7.12 EPS for the current year.
Principal Financial Group Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 3.55%. This is a boost from Principal Financial Group's previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, December 2nd. Principal Financial Group's dividend payout ratio is presently -320.00%.
About Principal Financial Group
(
Free Report)
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.
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