California State Teachers Retirement System Has $30.83 Million Stock Position in Principal Financial Group, Inc. (NASDAQ:PFG)

California State Teachers Retirement System decreased its position in Principal Financial Group, Inc. (NASDAQ:PFG – Get Rating) by 4.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 427,261 shares of the company’s stock after selling 18,064 shares during the period. California State Teachers Retirement System’s holdings in Principal Financial Group were worth $30,827,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in PFG. Asset Dedication LLC raised its holdings in Principal Financial Group by 5,666.7% in the 3rd quarter. Asset Dedication LLC now owns 346 shares of the company’s stock valued at $25,000 after acquiring an additional 340 shares in the last quarter. Guardian Wealth Advisors LLC acquired a new position in shares of Principal Financial Group in the 3rd quarter worth approximately $34,000. Neo Ivy Capital Management acquired a new position in shares of Principal Financial Group in the 3rd quarter worth approximately $40,000. Strategic Asset Management LLC raised its holdings in shares of Principal Financial Group by 116.1% in the 3rd quarter. Strategic Asset Management LLC now owns 670 shares of the company’s stock worth $48,000 after buying an additional 360 shares in the last quarter. Finally, RE Dickinson Investment Advisors LLC raised its holdings in shares of Principal Financial Group by 44.6% in the 3rd quarter. RE Dickinson Investment Advisors LLC now owns 959 shares of the company’s stock worth $48,000 after buying an additional 296 shares in the last quarter. Institutional investors and hedge funds own 74.21% of the company’s stock.

Principal Financial Group Stock Down 3.5 %

Shares of PFG opened at $69.99 on Friday. The firm has a market capitalization of $17.01 billion, a price-to-earnings ratio of 3.72, a PEG ratio of 1.23 and a beta of 1.30. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.31 and a current ratio of 0.31. The business’s fifty day moving average price is $87.41 and its two-hundred day moving average price is $85.04. Principal Financial Group, Inc. has a 52 week low of $61.05 and a 52 week high of $96.17.

Principal Financial Group (NASDAQ:PFG – Get Rating) last announced its quarterly earnings data on Tuesday, January 31st. The company reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.16. The firm had revenue of $3.12 billion for the quarter, compared to analyst estimates 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 company earned $1.85 EPS. On average, analysts predict that Principal Financial Group, Inc. will post 6.88 earnings per share for the current year.

Principal Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be given a $0.64 dividend. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $2.56 annualized dividend and a dividend yield of 3.66%. Principal Financial Group’s dividend payout ratio is currently 13.60%.

Analyst Upgrades and Downgrades

PFG has been the subject of a number of recent research reports. The Goldman Sachs Group increased their target price on Principal Financial Group from $61.00 to $71.00 and gave the stock a “sell” rating in a report on Monday, January 9th. Barclays increased their target price on Principal Financial Group from $89.00 to $92.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 1st. JPMorgan Chase & Co. increased their target price on Principal Financial Group from $72.00 to $78.00 and gave the stock an “underweight” rating in a report on Friday, January 6th. Royal Bank of Canada dropped their target price on Principal Financial Group from $94.00 to $88.00 and set a “sector perform” rating for the company in a report on Friday, March 3rd. Finally, Morgan Stanley increased their price target on Principal Financial Group from $76.00 to $77.00 and gave the stock an “underweight” rating in a research report on Friday, February 24th. Eight analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $78.64.

About Principal Financial Group

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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.