Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 4.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 156,185 shares of the company's stock after selling 7,633 shares during the period. PNC Financial Services Group Inc. owned 0.07% of Principal Financial Group worth $13,416,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PFG. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Principal Financial Group during the 3rd quarter worth approximately $2,441,000. S&CO Inc. acquired a new stake in Principal Financial Group during the third quarter worth $214,000. Peterson Financial Group Inc. purchased a new stake in Principal Financial Group in the third quarter valued at $33,000. GoalVest Advisory LLC lifted its stake in shares of Principal Financial Group by 5.6% in the 3rd quarter. GoalVest Advisory LLC now owns 18,024 shares of the company's stock valued at $1,548,000 after purchasing an additional 960 shares during the last quarter. Finally, RIA Advisory Group LLC purchased a new position in shares of Principal Financial Group during the 3rd quarter worth $638,000. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Stock Up 1.2 %

Shares of Principal Financial Group stock traded up $1.03 on Friday, reaching $85.73. 675,960 shares of the company were exchanged, compared to its average volume of 1,402,992. The stock's 50 day moving average price is $86.12 and its 200-day moving average price is $82.35. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. Principal Financial Group, Inc. has a 1-year low of $71.39 and a 1-year high of $91.97. The company has a market cap of $19.61 billion, a P/E ratio of -95.25, a price-to-earnings-growth ratio of 0.99 and a beta of 1.20.

Principal Financial Group (NYSE:PFG - Get Free Report) last posted 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 firm had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter last year, the firm earned $1.72 EPS. As a group, equities analysts forecast that Principal Financial Group, Inc. will post 7.04 EPS for the current year.

Principal Financial Group Increases Dividend

The firm 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 dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 3.41%. This is an increase from Principal Financial Group's previous quarterly dividend of $0.72. The ex-dividend date is Monday, December 2nd. Principal Financial Group's payout ratio is -320.00%.

Wall Street Analyst Weigh In

PFG has been the topic of a number of recent analyst reports. Piper Sandler upped their target price on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a "neutral" rating in a research report on Wednesday, October 2nd. Morgan Stanley lowered their price objective on shares of Principal Financial Group from $85.00 to $83.00 and set an "equal weight" rating for the company in a research report on Monday, August 19th. 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. Royal Bank of Canada raised their price target on Principal Financial Group from $87.00 to $91.00 and gave the stock a "sector perform" rating in a research report on Tuesday. Finally, Wells Fargo & Company boosted their price objective on 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 investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Principal Financial Group has an average rating of "Hold" and a consensus target price of $85.92.

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.