Amalgamated Bank Lowers Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Amalgamated Bank reduced its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 29.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 42,898 shares of the company's stock after selling 18,265 shares during the period. Amalgamated Bank's holdings in Principal Financial Group were worth $3,685,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. State Board of Administration of Florida Retirement System increased its position in shares of Principal Financial Group by 6.6% during 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 acquiring an additional 18,368 shares during the period. Cetera Investment Advisers boosted its position in Principal Financial Group by 108.1% during the first 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 in the last quarter. Sei Investments Co. grew its stake in Principal Financial Group by 59.4% in 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 during the last quarter. Quantbot Technologies LP bought a new position in Principal Financial Group in the first quarter worth about $1,097,000. Finally, SG Americas Securities LLC raised its holdings 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 in the last quarter. Hedge funds and other institutional investors own 75.08% of the company's stock.

Principal Financial Group Stock Performance

Shares of Principal Financial Group stock traded down $0.55 on Friday, reaching $85.45. 950,422 shares of the stock were exchanged, compared to its average volume of 1,290,957. The business has a 50 day moving average price of $84.95 and a two-hundred day moving average price of $81.99. The firm has a market capitalization of $19.54 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 0.98 and a beta of 1.20. Principal Financial Group, Inc. has a twelve month low of $68.69 and a twelve month high of $91.97. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The company reported $1.76 earnings per share for the quarter, missing analysts' consensus estimates 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 analyst estimates of $3.92 billion. During the same quarter in the previous year, the company earned $1.72 EPS. Analysts anticipate that Principal Financial Group, Inc. will post 7.12 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently announced 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. This is an increase from Principal Financial Group's previous quarterly dividend of $0.72. The ex-dividend date is Monday, December 2nd. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.42%. Principal Financial Group's dividend payout ratio is presently -320.00%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PFG shares. Piper Sandler lifted their price objective on shares of Principal Financial Group from $85.00 to $90.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 2nd. Morgan Stanley cut 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 report on Monday, August 19th. Barclays increased their price objective on Principal Financial Group from $75.00 to $77.00 and gave the company an "underweight" rating in a report on Friday, October 25th. Royal Bank of Canada boosted their target price on 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. Finally, Bank of America reduced their target price on Principal Financial Group from $94.00 to $91.00 and set a "neutral" rating on the stock in a research report on Thursday, October 10th. 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. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $85.58.

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.