Principal Financial Group, Inc. (NYSE:PFG) Position Trimmed by Quantbot Technologies LP

Quantbot Technologies LP trimmed its position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 77.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,852 shares of the company's stock after selling 23,866 shares during the quarter. Quantbot Technologies LP's holdings in Principal Financial Group were worth $589,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can raised its position in Principal Financial Group by 41.0% in the third quarter. Bank of Montreal Can now owns 503,735 shares of the company's stock worth $43,367,000 after acquiring an additional 146,473 shares in the last quarter. Truvestments Capital LLC purchased a new position in shares of Principal Financial Group in the 3rd quarter valued at about $43,000. Brown Brothers Harriman & Co. lifted its stake in shares of Principal Financial Group by 7.8% in the third quarter. Brown Brothers Harriman & Co. now owns 3,006 shares of the company's stock valued at $258,000 after purchasing an additional 218 shares during the period. Daiwa Securities Group Inc. boosted its holdings in Principal Financial Group by 1.7% during the third quarter. Daiwa Securities Group Inc. now owns 27,523 shares of the company's stock worth $2,364,000 after buying an additional 457 shares in the last quarter. Finally, Larson Financial Group LLC grew its position in Principal Financial Group by 132.8% during the third quarter. Larson Financial Group LLC now owns 675 shares of the company's stock worth $58,000 after buying an additional 385 shares during the period. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Stock Performance

Shares of NYSE:PFG traded down $0.26 on Tuesday, hitting $85.16. The company's stock had a trading volume of 509,923 shares, compared to its average volume of 1,135,923. The company has a market capitalization of $19.48 billion, a price-to-earnings ratio of 12.68, a price-to-earnings-growth ratio of 1.01 and a beta of 1.20. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. Principal Financial Group, Inc. has a 12 month low of $72.21 and a 12 month high of $91.97. The stock's 50-day moving average is $86.41 and its two-hundred day 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 EPS 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 company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter last year, the firm posted $1.72 earnings per share. On average, equities research analysts forecast that Principal Financial Group, Inc. will post 7.04 EPS for the current year.

Principal Financial Group Increases Dividend

The business also recently declared 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 a positive change 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 3.43%. Principal Financial Group's dividend payout ratio (DPR) is -320.00%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PFG shares. Wells Fargo & Company raised their price objective on Principal Financial Group from $85.00 to $86.00 and gave the company an "equal weight" rating in a research note on Thursday, October 10th. Morgan Stanley decreased their price objective 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. Royal Bank of Canada raised their target price on shares of Principal Financial Group from $87.00 to $91.00 and gave the company a "sector perform" rating in a report on Tuesday, November 19th. Piper Sandler increased their price objective on Principal Financial Group from $85.00 to $90.00 and gave the company a "neutral" rating in a research note on Wednesday, October 2nd. Finally, Barclays raised their price target on shares of Principal Financial Group from $75.00 to $77.00 and gave the stock an "underweight" rating in a research note on Friday, October 25th. Two research 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, the company presently has a consensus rating of "Hold" and a consensus price target of $85.92.

About Principal Financial Group

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.