Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP reduced its stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 1.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,371,243 shares of the company's stock after selling 63,152 shares during the quarter. Wellington Management Group LLP owned about 1.91% of Principal Financial Group worth $375,490,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PFG. Farther Finance Advisors LLC grew its holdings in shares of Principal Financial Group by 2.2% during the second quarter. Farther Finance Advisors LLC now owns 6,325 shares of the company's stock worth $493,000 after buying an additional 135 shares in the last quarter. Ballentine Partners LLC raised its holdings in Principal Financial Group by 5.0% in the 2nd quarter. Ballentine Partners LLC now owns 2,906 shares of the company's stock valued at $228,000 after acquiring an additional 138 shares during the last quarter. Graypoint LLC lifted its stake in shares of Principal Financial Group by 5.6% during the 2nd quarter. Graypoint LLC now owns 2,654 shares of the company's stock worth $208,000 after purchasing an additional 140 shares during the period. Prime Capital Investment Advisors LLC boosted its holdings in shares of Principal Financial Group by 2.3% during the third quarter. Prime Capital Investment Advisors LLC now owns 6,358 shares of the company's stock worth $546,000 after purchasing an additional 142 shares during the last quarter. Finally, Empirical Finance LLC grew its position in shares of Principal Financial Group by 1.8% in the third quarter. Empirical Finance LLC now owns 7,875 shares of the company's stock valued at $676,000 after purchasing an additional 142 shares during the period. Institutional investors and hedge funds own 75.08% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Morgan Stanley reiterated an "underweight" rating and set a $80.00 price objective (down from $86.00) on shares of Principal Financial Group in a report on Thursday. Wells Fargo & Company increased their price target on shares of Principal Financial Group from $85.00 to $86.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 10th. Royal Bank of Canada boosted their price objective on shares of Principal Financial Group from $87.00 to $91.00 and gave the company a "sector perform" rating in a research note on Tuesday, November 19th. Barclays increased their target price on Principal Financial Group from $75.00 to $77.00 and gave the stock an "underweight" rating in a research report on Friday, October 25th. Finally, Bank of America lowered their price target 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. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a strong buy rating to the company. According to MarketBeat.com, Principal Financial Group currently has an average rating of "Hold" and an average target price of $85.67.

Principal Financial Group Stock Up 0.8 %

Shares of NYSE PFG traded up $0.65 during trading on Friday, reaching $84.40. 1,399,801 shares of the stock were exchanged, compared to its average volume of 1,116,869. The business's 50-day moving average price is $86.31 and its 200 day moving average price is $82.48. The company has a market capitalization of $19.30 billion, a price-to-earnings ratio of -93.78, a price-to-earnings-growth ratio of 0.99 and a beta of 1.20. Principal Financial Group, Inc. has a twelve month low of $72.21 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 issued its quarterly earnings data 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 firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the firm earned $1.72 EPS. As a group, equities analysts forecast that Principal Financial Group, Inc. will post 7.04 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 paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.72. Principal Financial Group's dividend payout ratio (DPR) is -324.44%.

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.