Toronto Dominion Bank Acquires 16,954 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Toronto Dominion Bank boosted its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 15.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 123,958 shares of the company's stock after purchasing an additional 16,954 shares during the quarter. Toronto Dominion Bank owned about 0.05% of Principal Financial Group worth $10,648,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EdgeRock Capital LLC acquired a new stake in Principal Financial Group in the 2nd quarter worth $26,000. Peterson Financial Group Inc. bought a new position in Principal Financial Group during the third quarter valued at about $33,000. Family Firm Inc. acquired a new position in Principal Financial Group in the 2nd quarter valued at approximately $33,000. Truvestments Capital LLC bought a new stake in shares of Principal Financial Group in the 3rd quarter worth approximately $43,000. Finally, Prospera Private Wealth LLC acquired a new stake in shares of Principal Financial Group during the 3rd quarter worth approximately $45,000. Institutional investors and hedge funds own 75.08% of the company's stock.

Analyst Upgrades and Downgrades

PFG has been the topic of several analyst reports. Royal Bank of Canada boosted their price target 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. Morgan Stanley reissued an "underweight" rating and issued a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Wells Fargo & Company reaffirmed an "underweight" rating and set a $75.00 price objective (down from $84.00) on shares of Principal Financial Group in a report on Wednesday. Piper Sandler upped 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 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. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $84.75.

Principal Financial Group Trading Down 0.5 %

Shares of PFG traded down $0.38 on Friday, reaching $78.91. 1,650,856 shares of the company's stock were exchanged, compared to its average volume of 1,145,794. Principal Financial Group, Inc. has a 12 month low of $72.21 and a 12 month high of $91.97. The stock has a market capitalization of $18.05 billion, a P/E ratio of -87.68, a price-to-earnings-growth ratio of 0.93 and a beta of 1.20. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. The business has a 50 day moving average price of $85.78 and a two-hundred day moving average price of $82.41.

Principal Financial Group (NYSE:PFG - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The company reported $1.76 earnings per share for the quarter, missing analysts' consensus estimates of $2.02 by ($0.26). The company had revenue of $3.01 billion during the quarter, compared to analyst estimates 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 last year, the company earned $1.72 EPS. Research analysts anticipate that Principal Financial Group, Inc. will post 7.03 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business 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 dividend of $0.73 per share. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.72. This represents a $2.92 annualized dividend and a dividend yield of 3.70%. The ex-dividend date is Monday, December 2nd. Principal Financial Group's payout ratio is presently -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.