MetLife Investment Management LLC Sells 2,138 Shares of Principal Financial Group, Inc. (NYSE:PFG)

MetLife Investment Management LLC decreased its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 3.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,689 shares of the company’s stock after selling 2,138 shares during the period. MetLife Investment Management LLC’s holdings in Principal Financial Group were worth $4,784,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. EdgeRock Capital LLC purchased a new position in Principal Financial Group in the second quarter valued at about $26,000. Peterson Financial Group Inc. bought a new stake in shares of Principal Financial Group in the 3rd quarter valued at about $33,000. Family Firm Inc. purchased a new position in shares of Principal Financial Group in the 2nd quarter worth approximately $33,000. Truvestments Capital LLC bought a new position in shares of Principal Financial Group during the 3rd quarter worth approximately $43,000. Finally, Prospera Private Wealth LLC purchased a new stake in Principal Financial Group during the third quarter valued at approximately $45,000. 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 analyst reports. 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 report on Thursday, October 10th. Morgan Stanley reduced their target price 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. Bank of America decreased their price target on 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. Barclays boosted their price target on Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Finally, Piper Sandler increased their price objective on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $85.92.

Principal Financial Group Trading Down 0.2 %

Principal Financial Group stock opened at $87.09 on Monday. Principal Financial Group, Inc. has a 52 week low of $72.21 and a 52 week high of $91.97. The stock has a 50-day moving average price of $86.41 and a 200 day moving average price of $82.45. 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 market capitalization of $19.92 billion, a price-to-earnings ratio of -96.77, a price-to-earnings-growth ratio of 1.01 and a beta of 1.20.

Principal Financial Group (NYSE:PFG) last announced 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). The business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.92 billion. Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. During the same quarter in the previous year, the firm posted $1.72 earnings per share. Sell-side analysts anticipate that Principal Financial Group, Inc. will post 7.04 EPS for the current year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.73 per share. 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 3.35%. The ex-dividend date of this dividend is Monday, December 2nd. Principal Financial Group’s dividend payout ratio (DPR) is currently -324.44%.

Principal Financial Group Company 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.