Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Pathstone Holdings LLC

Pathstone Holdings LLC trimmed its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 3.1% during the third quarter, HoldingsChannel.com reports. The fund owned 27,509 shares of the company’s stock after selling 876 shares during the period. Pathstone Holdings LLC’s holdings in Principal Financial Group were worth $2,363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Metis Global Partners LLC raised its holdings in shares of 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 during the last quarter. Cetera Investment Advisers lifted its position in Principal Financial Group by 108.1% during the 1st quarter. Cetera Investment Advisers now owns 53,579 shares of the company’s stock worth $4,624,000 after acquiring an additional 27,827 shares during the period. SG Americas Securities LLC grew its stake in shares of Principal Financial Group by 57.3% in the 2nd quarter. SG Americas Securities LLC now owns 178,635 shares of the company’s stock valued at $14,014,000 after purchasing an additional 65,070 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of Principal Financial Group by 54.2% in the first quarter. Tidal Investments LLC now owns 26,847 shares of the company’s stock valued at $2,317,000 after purchasing an additional 9,432 shares during the period. Finally, Intech Investment Management LLC raised its stake in shares of Principal Financial Group by 27.1% during the second quarter. Intech Investment Management LLC now owns 298,562 shares of the company’s stock worth $23,422,000 after purchasing an additional 63,747 shares during the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Analyst Upgrades and Downgrades

PFG has been the topic of several recent research reports. Bank of America dropped their price objective on shares of Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Morgan Stanley reduced their price objective on shares of Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Keefe, Bruyette & Woods dropped their target price on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 30th. Barclays raised their price target on Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Finally, Piper Sandler upped their price objective on Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $85.92.

Principal Financial Group Price Performance

Principal Financial Group stock opened at $87.04 on Tuesday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. The firm’s 50-day simple moving average is $86.22 and its 200 day simple moving average is $82.37. Principal Financial Group, Inc. has a 52 week low of $71.39 and a 52 week high of $91.97. The firm has a market capitalization of $19.91 billion, a PE ratio of -96.71, a P/E/G ratio of 1.00 and a beta of 1.20.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Thursday, October 24th. The company reported $1.76 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.26). Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. The business 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 company earned $1.72 earnings per share. On average, equities research analysts predict that Principal Financial Group, Inc. will post 7.04 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently disclosed 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. This represents a $2.92 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Monday, December 2nd. Principal Financial Group’s dividend payout ratio is currently -320.00%.

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.