Dynamic Technology Lab Private Ltd Sells 22,724 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Dynamic Technology Lab Private Ltd lessened its stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 89.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,610 shares of the company's stock after selling 22,724 shares during the period. Dynamic Technology Lab Private Ltd's holdings in Principal Financial Group were worth $224,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. EdgeRock Capital LLC bought a new position in shares of Principal Financial Group during the 2nd quarter worth $26,000. Strategic Financial Concepts LLC purchased a new position in shares of Principal Financial Group in the second quarter worth about $32,000. Family Firm Inc. bought a new stake in shares of Principal Financial Group in the second quarter valued at approximately $33,000. Peterson Financial Group Inc. purchased a new stake in shares of Principal Financial Group during the 3rd quarter valued at approximately $33,000. Finally, Innealta Capital LLC bought a new position in Principal Financial Group in the 2nd quarter worth approximately $43,000. Institutional investors own 75.08% of the company's stock.

Principal Financial Group Price Performance

Shares of Principal Financial Group stock traded down $0.62 on Tuesday, hitting $84.80. 1,511,451 shares of the company traded hands, compared to its average volume of 1,140,315. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.97. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. The company has a market cap of $19.40 billion, a P/E ratio of -94.22, a P/E/G ratio of 1.00 and a beta of 1.20. The firm's 50-day simple moving average is $86.39 and its 200 day simple moving average is $82.45.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its quarterly earnings results 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 negative net margin of 1.47% and a positive return on equity of 14.67%. The firm had revenue of $3.01 billion for the quarter, compared to analysts' expectations of $3.92 billion. During the same quarter in the previous year, the business earned $1.72 EPS. Analysts expect that Principal Financial Group, Inc. will post 7.04 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. Investors of record on Monday, December 2nd will be given 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 yield of 3.44%. Principal Financial Group's payout ratio is presently -324.44%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Principal Financial Group from $85.00 to $86.00 and gave the company an "equal weight" rating in a report on Thursday, October 10th. Bank of America dropped their price objective on Principal Financial Group from $94.00 to $91.00 and set a "neutral" rating on the stock in a report on Thursday, October 10th. Piper Sandler lifted their target price on Principal Financial Group from $85.00 to $90.00 and gave the company a "neutral" rating in a report on Wednesday, October 2nd. Royal Bank of Canada upped their price target on Principal Financial Group from $87.00 to $91.00 and gave the company a "sector perform" rating in a research report on Tuesday, November 19th. Finally, Morgan Stanley cut 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. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock 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.