Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC decreased its stake in Principal Financial Group, Inc. (NYSE:PFG) by 21.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 233,758 shares of the company’s stock after selling 64,804 shares during the period. Intech Investment Management LLC’s holdings in Principal Financial Group were worth $20,080,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. EdgeRock Capital LLC bought a new position in Principal Financial Group in the 2nd quarter worth approximately $26,000. Peterson Financial Group Inc. bought a new position in shares of Principal Financial Group in the third quarter valued at approximately $33,000. Family Firm Inc. bought a new stake in Principal Financial Group during the second quarter worth approximately $33,000. Prospera Private Wealth LLC acquired a new stake in Principal Financial Group in the third quarter worth approximately $45,000. Finally, Innealta Capital LLC bought a new position in Principal Financial Group during the 2nd quarter valued at $43,000. 75.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PFG has been the subject of several research reports. Keefe, Bruyette & Woods decreased their target price on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating for the company in a research note on Tuesday, July 30th. Royal Bank of Canada lifted their price objective 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. Barclays increased 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. Morgan Stanley dropped their price target on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Finally, Wells Fargo & Company raised their price objective on 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 investment 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $85.92.

Principal Financial Group Trading Down 0.0 %

Principal Financial Group stock opened at $84.15 on Thursday. The business’s 50-day simple moving average is $85.94 and its 200-day simple moving average is $82.31. 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 $19.25 billion, a PE ratio of 12.25, a PEG ratio of 0.97 and a beta of 1.20. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results on Thursday, October 24th. The company reported $1.76 earnings per share (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 firm had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the prior year, the firm earned $1.72 earnings per share. Equities research analysts forecast that Principal Financial Group, Inc. will post 7.09 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.73 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.92 dividend on an annualized basis and a yield of 3.47%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s 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.