State Street Corp Has $819.56 Million Holdings in Principal Financial Group, Inc. (NYSE:PFG)

State Street Corp trimmed its position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 0.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,540,838 shares of the company's stock after selling 17,312 shares during the quarter. State Street Corp owned 4.17% of Principal Financial Group worth $819,558,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PFG. Metis Global Partners LLC lifted its stake in Principal Financial Group by 5.0% in the third quarter. Metis Global Partners LLC now owns 11,230 shares of the company's stock valued at $965,000 after buying an additional 533 shares in the last quarter. Intech Investment Management LLC lifted its position in Principal Financial Group by 27.1% in the 2nd quarter. Intech Investment Management LLC now owns 298,562 shares of the company's stock valued at $23,422,000 after acquiring an additional 63,747 shares in the last quarter. Empowered Funds LLC boosted its stake in Principal Financial Group by 358.7% in the 3rd quarter. Empowered Funds LLC now owns 16,328 shares of the company's stock worth $1,403,000 after purchasing an additional 12,768 shares during the period. Frank Rimerman Advisors LLC bought a new position in Principal Financial Group during the 3rd quarter worth about $769,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Principal Financial Group in the 3rd quarter valued at about $2,441,000. Institutional investors and hedge funds own 75.08% of the company's stock.

Principal Financial Group Stock Performance

PFG traded up $0.65 during trading hours on Friday, reaching $84.40. The company's stock had a trading volume of 1,399,801 shares, compared to its average volume of 1,116,869. The company's 50-day moving average is $86.31 and its 200-day moving average is $82.48. Principal Financial Group, Inc. has a 52 week low of $72.21 and a 52 week high of $91.97. The firm has a market cap of $19.30 billion, a PE ratio of -93.78, a price-to-earnings-growth ratio of 0.99 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 (NYSE:PFG - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The company reported $1.76 earnings per share for the quarter, missing the consensus estimate of $2.02 by ($0.26). The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.92 billion. Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. During the same period in the previous year, the company earned $1.72 earnings per share. On average, equities analysts forecast that Principal Financial Group, Inc. will post 7.04 EPS for the current year.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders 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 of this dividend is Monday, December 2nd. This represents a $2.92 annualized dividend and a dividend yield of 3.46%. Principal Financial Group's dividend payout ratio is presently -324.44%.

Analyst Ratings Changes

A number of research analysts recently issued reports on PFG shares. 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. Bank of America decreased their price target on shares of Principal Financial Group from $94.00 to $91.00 and set a "neutral" rating for the company in a research note on Thursday, October 10th. Royal Bank of Canada boosted their price target 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. 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 report on Thursday, October 10th. Finally, Piper Sandler upped their target price on Principal Financial Group from $85.00 to $90.00 and gave the stock a "neutral" rating in a report on Wednesday, October 2nd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $85.67.

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.