BNP Paribas Financial Markets Has $31.60 Million Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

BNP Paribas Financial Markets trimmed its position in Principal Financial Group, Inc. (NYSE:PFG) by 0.1% in the third quarter, Holdings Channel.com reports. The firm owned 367,845 shares of the company’s stock after selling 424 shares during the period. BNP Paribas Financial Markets’ holdings in Principal Financial Group were worth $31,598,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of research firms recently commented on PFG. Barclays upped their price objective on Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Royal Bank of Canada increased 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 research report on Tuesday, November 19th. Piper Sandler boosted their price objective 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. Bank of America lowered their target price 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. Finally, Wells Fargo & Company lifted their price target on shares of Principal Financial Group from $85.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $85.92.

Principal Financial Group Price Performance

Shares of NYSE PFG opened at $87.09 on Friday. The company has a fifty day moving average price of $86.41 and a 200 day moving average price of $82.48. The firm has a market cap of $19.92 billion, a PE ratio of -96.77, a PEG ratio of 1.02 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. Principal Financial Group, Inc. has a 1-year low of $72.21 and a 1-year high of $91.97.

Principal Financial Group (NYSE:PFG) last posted 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). 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 for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the prior year, the company earned $1.72 earnings per share. Research analysts predict that Principal Financial Group, Inc. will post 7.04 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be issued a $0.73 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.35%. Principal Financial Group’s dividend payout ratio (DPR) 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.