New York State Teachers Retirement System Trims Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

New York State Teachers Retirement System trimmed its stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 11.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 183,310 shares of the company's stock after selling 24,660 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of Principal Financial Group worth $15,746,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. EdgeRock Capital LLC bought a new stake in shares of Principal Financial Group in the 2nd quarter valued at approximately $26,000. Family Firm Inc. bought a new stake in shares of Principal Financial Group in the 2nd quarter valued at approximately $33,000. Salomon & Ludwin LLC lifted its stake in shares of Principal Financial Group by 319.3% in the 1st quarter. Salomon & Ludwin LLC now owns 499 shares of the company's stock valued at $43,000 after purchasing an additional 380 shares during the last quarter. Innealta Capital LLC bought a new stake in shares of Principal Financial Group in the 2nd quarter valued at approximately $43,000. Finally, MCF Advisors LLC lifted its stake in shares of Principal Financial Group by 55.6% in the 2nd quarter. MCF Advisors LLC now owns 613 shares of the company's stock valued at $48,000 after purchasing an additional 219 shares during the last quarter. 75.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PFG shares. Keefe, Bruyette & Woods lowered their price objective on Principal Financial Group from $88.00 to $86.00 and set a "market perform" rating for the company in a research note on Tuesday, July 30th. Morgan Stanley reduced their price target on Principal Financial Group from $85.00 to $83.00 and set an "equal weight" rating on the stock in a report on Monday, August 19th. Raymond James upgraded Principal Financial Group from a "market perform" rating to a "strong-buy" rating and set a $99.00 price target on the stock in a report on Tuesday, July 9th. Jefferies Financial Group increased their price target on Principal Financial Group from $73.00 to $76.00 and gave the stock a "hold" rating in a report on Thursday, July 18th. Finally, Royal Bank of Canada increased their price target on Principal Financial Group from $83.00 to $87.00 and gave the stock a "sector perform" rating in a report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $85.58.

Principal Financial Group Trading Down 0.3 %

PFG opened at $82.18 on Friday. The stock's fifty day moving average is $84.54 and its two-hundred day moving average is $81.82. The company 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, Inc. has a 52 week low of $67.79 and a 52 week high of $91.97. The company has a quick ratio of 0.29, a current ratio of 0.27 and a debt-to-equity ratio of 0.35.

Principal Financial Group (NYSE:PFG - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The company reported $1.76 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.02 by ($0.26). Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. The company had revenue of $3.01 billion during the quarter, compared to analysts' expectations of $3.92 billion. During the same quarter in the prior year, the business posted $1.72 earnings per share. Analysts forecast that Principal Financial Group, Inc. will post 7.12 earnings per share 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. Shareholders of record on Monday, December 2nd will be given a dividend of $0.73 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.92 dividend on an annualized basis and a yield of 3.55%. This is a boost from Principal Financial Group's previous quarterly dividend of $0.72. Principal Financial Group's payout ratio is currently -324.44%.

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.