Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. decreased its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 6.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,739 shares of the company’s stock after selling 2,351 shares during the quarter. Advisors Asset Management Inc.’s holdings in Principal Financial Group were worth $2,898,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PFG. EdgeRock Capital LLC acquired a new position in shares of Principal Financial Group in the 2nd quarter valued at $26,000. Strategic Financial Concepts LLC acquired a new position in shares of Principal Financial Group in the second quarter valued at about $32,000. Family Firm Inc. purchased a new position in shares of Principal Financial Group in the second quarter worth about $33,000. Peterson Financial Group Inc. acquired a new stake in shares of Principal Financial Group during the third quarter worth about $33,000. Finally, Innealta Capital LLC purchased a new stake in Principal Financial Group in the second quarter valued at approximately $43,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Trading Up 1.2 %

Shares of Principal Financial Group stock opened at $85.73 on Friday. The firm has a market capitalization of $19.61 billion, a PE ratio of -95.25, a P/E/G ratio of 0.99 and a beta of 1.20. The firm’s 50-day moving average price is $86.12 and its 200 day moving average price is $82.35. Principal Financial Group, Inc. has a twelve month low of $71.39 and a twelve month high of $91.97. 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 (NYSE:PFG) last posted its quarterly earnings data 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 firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same period in the prior year, the company posted $1.72 earnings per share. On average, sell-side analysts predict that Principal Financial Group, Inc. will post 7.04 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be given a dividend of $0.73 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. This represents a $2.92 dividend on an annualized basis and a yield of 3.41%. Principal Financial Group’s payout ratio is presently -320.00%.

Analysts Set New Price Targets

Several brokerages have commented on PFG. Royal Bank of Canada lifted their price objective on shares of Principal Financial Group from $87.00 to $91.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 19th. Morgan Stanley cut 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. Keefe, Bruyette & Woods decreased their price objective on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating for the company in a report on Tuesday, July 30th. Barclays raised their target price on Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Finally, Piper Sandler boosted their price target on Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Principal Financial Group currently has a consensus rating of “Hold” and a consensus target price of $85.92.

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.