Massachusetts Financial Services Co. MA Has $40.04 Million Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Massachusetts Financial Services Co. MA lifted its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 85.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 466,133 shares of the company’s stock after purchasing an additional 215,045 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.20% of Principal Financial Group worth $40,041,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Prospera Private Wealth LLC acquired a new position in Principal Financial Group during the third quarter worth $45,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Principal Financial Group during the third quarter worth about $2,441,000. S&CO Inc. acquired a new stake in shares of Principal Financial Group in the 3rd quarter worth about $214,000. Peterson Financial Group Inc. bought a new position in Principal Financial Group in the 3rd quarter valued at about $33,000. Finally, GoalVest Advisory LLC boosted its stake in Principal Financial Group by 5.6% during the 3rd quarter. GoalVest Advisory LLC now owns 18,024 shares of the company’s stock valued at $1,548,000 after purchasing an additional 960 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PFG has been the subject of several analyst reports. Barclays raised their target price on Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Keefe, Bruyette & Woods cut their price objective on shares of Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating on the stock in a report on Tuesday, July 30th. Piper Sandler increased their target price on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Wells Fargo & Company raised their price target on shares of Principal Financial Group from $85.00 to $86.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Finally, 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. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $85.92.

Principal Financial Group Trading Up 1.2 %

Shares of PFG stock opened at $85.73 on Monday. Principal Financial Group, Inc. has a 12-month low of $71.39 and a 12-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. The company has a 50 day moving average of $86.12 and a 200-day moving average of $82.34. The firm has a market cap of $19.61 billion, a P/E ratio of -95.25, a PEG ratio of 0.99 and a beta of 1.20.

Principal Financial Group (NYSE:PFG) last released its earnings results on Thursday, October 24th. The company reported $1.76 earnings per share (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 analysts’ expectations of $3.92 billion. During the same period in the prior year, the business earned $1.72 earnings per share. Sell-side analysts anticipate that Principal Financial Group, Inc. will post 7.04 earnings per share for the current 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 issued a dividend of $0.73 per share. The ex-dividend date is Monday, December 2nd. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. This represents a $2.92 annualized dividend and a yield of 3.41%. Principal Financial Group’s dividend payout ratio is -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.