Capital Management Corp VA Cuts Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Capital Management Corp VA reduced its stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 14.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 101,313 shares of the company's stock after selling 16,490 shares during the period. Principal Financial Group makes up approximately 1.5% of Capital Management Corp VA's portfolio, making the stock its 27th biggest holding. Capital Management Corp VA's holdings in Principal Financial Group were worth $8,703,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PFG. First Trust Direct Indexing L.P. boosted its stake in shares of Principal Financial Group by 4.8% during the 1st quarter. First Trust Direct Indexing L.P. now owns 5,126 shares of the company's stock worth $442,000 after acquiring an additional 236 shares in the last quarter. Norden Group LLC purchased a new stake in shares of Principal Financial Group during the 1st quarter worth about $823,000. Fidelis Capital Partners LLC purchased a new stake in shares of Principal Financial Group during the 1st quarter worth about $125,000. Nordea Investment Management AB boosted its stake in shares of Principal Financial Group by 4.1% during the 1st quarter. Nordea Investment Management AB now owns 17,113 shares of the company's stock worth $1,476,000 after acquiring an additional 673 shares in the last quarter. Finally, Graypoint LLC purchased a new stake in shares of Principal Financial Group during the 1st quarter worth about $217,000. 75.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PFG shares. Royal Bank of Canada increased their target price on shares of Principal Financial Group from $83.00 to $87.00 and gave the stock a "sector perform" rating in a research note on Monday, July 29th. Morgan Stanley decreased their price target on shares of Principal Financial Group from $85.00 to $83.00 and set an "equal weight" rating on the stock in a research note on Monday, August 19th. Piper Sandler raised their price target 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. Keefe, Bruyette & Woods decreased their price target on shares of Principal Financial Group from $88.00 to $86.00 and set a "market perform" rating on the stock in a research note on Tuesday, July 30th. Finally, Barclays raised their price target on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an "underweight" rating in a research note on Friday, October 25th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $85.58.

Principal Financial Group Trading Up 1.2 %

Shares of PFG stock traded up $0.99 during trading on Tuesday, hitting $82.55. 1,495,769 shares of the stock traded hands, compared to its average volume of 1,134,225. The firm has a market capitalization of $18.88 billion, a P/E ratio of -91.72, a price-to-earnings-growth ratio of 0.95 and a beta of 1.20. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. The firm's fifty day moving average price is $84.64 and its 200-day moving average price is $81.91. Principal Financial Group, Inc. has a 52-week low of $68.69 and a 52-week 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). The firm had revenue of $3.01 billion for the quarter, compared to analysts' expectations of $3.92 billion. Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. During the same period in the previous year, the firm posted $1.72 EPS. As a group, research analysts forecast that Principal Financial Group, Inc. will post 7.12 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be given a $0.73 dividend. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.92 dividend on an annualized basis and a yield of 3.54%. Principal Financial Group's payout ratio is presently -320.00%.

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.