Principal Financial Group, Inc. (NASDAQ:PFG) Shares Sold by National Pension Service

National Pension Service lowered its position in shares of Principal Financial Group, Inc. (NASDAQ:PFG – Get Rating) by 6.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 426,467 shares of the company’s stock after selling 28,816 shares during the period. National Pension Service’s holdings in Principal Financial Group were worth $30,458,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PFG. Asset Dedication LLC increased its stake in Principal Financial Group by 5,666.7% in the third quarter. Asset Dedication LLC now owns 346 shares of the company’s stock valued at $25,000 after purchasing an additional 340 shares during the last quarter. Guardian Wealth Advisors LLC purchased a new position in shares of Principal Financial Group in the 3rd quarter valued at $34,000. Neo Ivy Capital Management acquired a new stake in Principal Financial Group during the 3rd quarter worth $40,000. Strategic Asset Management LLC lifted its position in Principal Financial Group by 116.1% in the third quarter. Strategic Asset Management LLC now owns 670 shares of the company’s stock valued at $48,000 after acquiring an additional 360 shares during the last quarter. Finally, RE Dickinson Investment Advisors LLC boosted its stake in Principal Financial Group by 44.6% in the third quarter. RE Dickinson Investment Advisors LLC now owns 959 shares of the company’s stock valued at $48,000 after acquiring an additional 296 shares in the last quarter. Hedge funds and other institutional investors own 74.21% of the company’s stock.

Principal Financial Group Trading Up 4.1 %

Shares of PFG stock opened at $72.56 on Friday. The business’s 50 day moving average is $87.76 and its two-hundred day moving average is $85.09. Principal Financial Group, Inc. has a twelve month low of $61.05 and a twelve month high of $96.17. The company has a market capitalization of $17.64 billion, a P/E ratio of 3.85, a price-to-earnings-growth ratio of 1.51 and a beta of 1.30. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.40.

Principal Financial Group (NASDAQ:PFG – Get Rating) last posted its quarterly earnings results on Tuesday, January 31st. The company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.54 by $0.16. The business had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.33 billion. Principal Financial Group had a return on equity of 15.98% and a net margin of 27.51%. During the same period last year, the firm earned $1.85 EPS. Equities analysts forecast that Principal Financial Group, Inc. will post 6.88 EPS for the current year.

Principal Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be issued a $0.64 dividend. The ex-dividend date is Tuesday, March 14th. This represents a $2.56 annualized dividend and a dividend yield of 3.53%. Principal Financial Group’s dividend payout ratio is currently 13.60%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Morgan Stanley boosted their target price on Principal Financial Group from $76.00 to $77.00 and gave the company an “underweight” rating in a report on Friday, February 24th. Evercore ISI downgraded Principal Financial Group from an “in-line” rating to an “underperform” rating and increased their price objective for the company from $75.00 to $81.00 in a report on Thursday, November 17th. Barclays lifted their target price on shares of Principal Financial Group from $89.00 to $92.00 and gave the company an “equal weight” rating in a report on Wednesday, February 1st. Credit Suisse Group cut shares of Principal Financial Group from a “neutral” rating to an “underperform” rating and set a $86.00 price target for the company. in a research note on Thursday, December 8th. Finally, The Goldman Sachs Group lifted their price objective on shares of Principal Financial Group from $61.00 to $71.00 and gave the company a “sell” rating in a research note on Monday, January 9th. Eight investment analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $78.64.

Principal Financial Group Company Profile

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Principal Financial Group, Inc engages in the investment management offering business. It offers financial products and services to businesses, individuals, and institutional clients. It operates its business through following segments: Retirement and Income Solutions, Principal Global Investors, Principal International, U.S.