Citigroup Inc. Has $20.96 Million Position in Principal Financial Group, Inc. (NYSE:PFG)

Citigroup Inc. reduced its position in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 16.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 243,993 shares of the company's stock after selling 46,987 shares during the quarter. Citigroup Inc. owned about 0.11% of Principal Financial Group worth $20,959,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in Principal Financial Group by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,905,124 shares of the company's stock valued at $306,393,000 after buying an additional 39,854 shares during the period. Bank of New York Mellon Corp increased its holdings in Principal Financial Group by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,903,138 shares of the company's stock valued at $149,301,000 after buying an additional 53,516 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Principal Financial Group by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,403,689 shares of the company's stock valued at $120,577,000 after purchasing an additional 18,801 shares during the last quarter. AustralianSuper Pty Ltd grew its holdings in shares of Principal Financial Group by 27.2% during the 3rd quarter. AustralianSuper Pty Ltd now owns 540,212 shares of the company's stock valued at $46,404,000 after purchasing an additional 115,569 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Principal Financial Group by 0.5% during the 2nd quarter. Rhumbline Advisers now owns 478,129 shares of the company's stock valued at $37,509,000 after purchasing an additional 2,487 shares during the last quarter. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Trading Up 0.6 %

Shares of NYSE PFG traded up $0.49 during midday trading on Wednesday, reaching $87.28. The stock had a trading volume of 693,771 shares, compared to its average volume of 1,141,632. The firm has a market cap of $19.96 billion, a price-to-earnings ratio of -96.98, a price-to-earnings-growth ratio of 1.01 and a beta of 1.20. Principal Financial Group, Inc. has a twelve month low of $71.39 and a twelve month high of $91.97. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. The company's 50 day moving average price is $86.35 and its 200 day moving average price is $82.42.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its 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 for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the previous year, the firm earned $1.72 EPS. As a group, sell-side analysts expect that Principal Financial Group, Inc. will post 7.04 EPS for the current year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Monday, December 2nd. This is an increase from Principal Financial Group's previous quarterly dividend of $0.72. Principal Financial Group's payout ratio is presently -324.44%.

Analyst Ratings Changes

PFG has been the topic of several research reports. 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 report on Tuesday, July 30th. Morgan Stanley cut their target price on shares of 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. Bank of America cut their target price on shares of 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. Wells Fargo & Company lifted their target price on shares of Principal Financial Group from $85.00 to $86.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 10th. Finally, Royal Bank of Canada lifted their target price on shares of Principal Financial Group from $87.00 to $91.00 and gave the stock a "sector perform" rating in a research report on Tuesday, November 19th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $85.92.

Principal Financial Group 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.