Thrivent Financial for Lutherans Sells 40,077 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Thrivent Financial for Lutherans cut its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 62.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,149 shares of the company's stock after selling 40,077 shares during the period. Thrivent Financial for Lutherans' holdings in Principal Financial Group were worth $2,075,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. EdgeRock Capital LLC acquired a new position in shares of Principal Financial Group in the second quarter worth about $26,000. Strategic Financial Concepts LLC acquired a new position in Principal Financial Group in the 2nd quarter worth approximately $32,000. Family Firm Inc. purchased a new position in Principal Financial Group during the 2nd quarter worth approximately $33,000. Peterson Financial Group Inc. acquired a new stake in Principal Financial Group during the 3rd quarter valued at $33,000. Finally, Innealta Capital LLC purchased a new stake in shares of Principal Financial Group in the second quarter valued at $43,000. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Stock Performance

Shares of PFG stock traded down $0.19 during trading on Friday, reaching $87.09. The company had a trading volume of 559,601 shares, compared to its average volume of 1,139,113. The firm's 50 day simple moving average is $86.38 and its two-hundred day simple moving average is $82.45. Principal Financial Group, Inc. has a one year low of $72.21 and a one year high of $91.97. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. The company has a market capitalization of $19.92 billion, a PE ratio of 12.70, a PEG ratio of 1.02 and a beta of 1.20.

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). The firm 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 prior year, the business earned $1.72 EPS. Sell-side analysts forecast that Principal Financial Group, Inc. will post 7.04 earnings per share for the current year.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 3.35%. This is a boost from Principal Financial Group's previous quarterly dividend of $0.72. The ex-dividend date is Monday, December 2nd. Principal Financial Group's dividend payout ratio is -320.00%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PFG shares. Barclays upped their price target on Principal Financial Group from $75.00 to $77.00 and gave the company an "underweight" rating in a research report on Friday, October 25th. Wells Fargo & Company upped their target price 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. Piper Sandler raised their price target on shares of Principal Financial Group from $85.00 to $90.00 and gave the stock a "neutral" rating in a report on Wednesday, October 2nd. Royal Bank of Canada increased their target price 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. Finally, Bank of America lowered their price target on shares of Principal Financial Group from $94.00 to $91.00 and set a "neutral" rating on the stock in a report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $85.92.

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.