National Pension Service Has $32.44 Million Holdings in Principal Financial Group, Inc. (NYSE:PFG)

National Pension Service trimmed its position in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 7.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 377,592 shares of the company's stock after selling 32,445 shares during the quarter. National Pension Service owned 0.16% of Principal Financial Group worth $32,435,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Acadian Asset Management LLC increased its position in Principal Financial Group by 403.6% during the second quarter. Acadian Asset Management LLC now owns 354,447 shares of the company's stock valued at $27,800,000 after acquiring an additional 284,067 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Principal Financial Group in the second quarter worth $19,698,000. Intech Investment Management LLC grew its position in shares of Principal Financial Group by 586.1% during the 1st quarter. Intech Investment Management LLC now owns 234,815 shares of the company's stock worth $20,267,000 after buying an additional 200,588 shares in the last quarter. Swedbank AB bought a new stake in Principal Financial Group during the first quarter valued at about $13,996,000. Finally, Capital Research Global Investors boosted its holdings in Principal Financial Group by 2.4% in the first quarter. Capital Research Global Investors now owns 6,602,298 shares of the company's stock worth $569,844,000 after acquiring an additional 152,774 shares in the last quarter. Institutional investors own 75.08% of the company's stock.

Wall Street Analysts Forecast Growth

PFG has been the subject of several recent research reports. Royal Bank of Canada lifted their price target on Principal Financial Group from $83.00 to $87.00 and gave the company a "sector perform" rating in a research report on Monday, July 29th. Piper Sandler raised their price objective on Principal Financial Group from $85.00 to $90.00 and gave the company a "neutral" rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods lowered their price target on 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. Citigroup lifted their target price on Principal Financial Group from $68.00 to $70.00 and gave the company a "sell" rating in a research report on Tuesday, July 23rd. Finally, Bank of America decreased their target price on Principal Financial Group from $94.00 to $91.00 and set a "neutral" rating for the company in a research report on Thursday, October 10th. Two 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 company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $85.58.

Principal Financial Group Stock Down 0.7 %

PFG stock traded down $0.58 during mid-day trading on Friday, hitting $85.42. The stock had a trading volume of 417,574 shares, compared to its average volume of 1,133,552. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. Principal Financial Group, Inc. has a 1-year low of $68.69 and a 1-year high of $91.97. The company has a fifty day moving average of $84.76 and a 200 day moving average of $81.93. The stock has a market capitalization of $19.54 billion, a price-to-earnings ratio of -95.55, a PEG ratio of 0.94 and a beta of 1.20.

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 business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same period last year, the business earned $1.72 EPS. On average, equities analysts expect that Principal Financial Group, Inc. will post 7.12 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently disclosed 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 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 annualized dividend and a yield of 3.42%. 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.