Principal Financial Group, Inc. (NYSE:PFG) Shares Bought by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Principal Financial Group, Inc. (NYSE:PFGFree Report) by 13.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 44,713 shares of the company’s stock after acquiring an additional 5,336 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Principal Financial Group were worth $3,222,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Principal Financial Group by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 29,028,108 shares of the company’s stock worth $2,130,953,000 after buying an additional 150,598 shares during the period. State Street Corp increased its stake in Principal Financial Group by 2.6% during the 2nd quarter. State Street Corp now owns 10,146,771 shares of the company’s stock worth $769,531,000 after buying an additional 258,621 shares during the period. Capital Research Global Investors increased its stake in Principal Financial Group by 9.8% during the 2nd quarter. Capital Research Global Investors now owns 9,149,111 shares of the company’s stock worth $693,869,000 after buying an additional 813,139 shares during the period. Geode Capital Management LLC increased its stake in Principal Financial Group by 1.6% during the 2nd quarter. Geode Capital Management LLC now owns 5,603,444 shares of the company’s stock worth $424,188,000 after buying an additional 87,605 shares during the period. Finally, Morgan Stanley increased its stake in Principal Financial Group by 67.3% during the 4th quarter. Morgan Stanley now owns 4,514,124 shares of the company’s stock worth $378,825,000 after buying an additional 1,816,343 shares during the period. 70.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Citigroup dropped their price objective on shares of Principal Financial Group from $64.00 to $62.00 and set a “sell” rating on the stock in a research report on Tuesday, October 24th. Morgan Stanley increased their price objective on shares of Principal Financial Group from $71.00 to $72.00 and gave the company an “underweight” rating in a research report on Wednesday, November 15th. Evercore ISI raised shares of Principal Financial Group from an “underperform” rating to an “inline” rating and increased their price objective for the company from $82.00 to $83.00 in a research report on Thursday, January 4th. Piper Sandler dropped their price objective on shares of Principal Financial Group from $80.00 to $74.00 and set a “neutral” rating on the stock in a research report on Monday, October 30th. Finally, Wells Fargo & Company dropped their price objective on shares of Principal Financial Group from $78.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 17th. Three analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat, Principal Financial Group presently has a consensus rating of “Hold” and a consensus target price of $75.00.

Read Our Latest Analysis on Principal Financial Group

Principal Financial Group Stock Up 0.9 %

Shares of NYSE:PFG opened at $78.94 on Tuesday. The stock has a market cap of $18.82 billion, a P/E ratio of 13.00, a P/E/G ratio of 1.23 and a beta of 1.25. The firm has a fifty day moving average price of $78.44 and a 200 day moving average price of $75.22. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.31 and a quick ratio of 0.31. Principal Financial Group, Inc. has a 1-year low of $65.17 and a 1-year high of $93.15.

Principal Financial Group (NYSE:PFGGet Free Report) last issued its quarterly earnings results on Monday, February 12th. The company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.14. Principal Financial Group had a net margin of 10.54% and a return on equity of 15.30%. During the same quarter in the previous year, the company posted $1.70 earnings per share. Sell-side analysts predict that Principal Financial Group, Inc. will post 6.43 EPS for the current year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Tuesday, March 12th will be given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 3.50%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.67. Principal Financial Group’s dividend payout ratio is presently 44.15%.

Principal Financial Group Company Profile

(Free Report)

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 Global Investors, Principal International, and U.S. Insurance Solutions segments.

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Institutional Ownership by Quarter for Principal Financial Group (NYSE:PFG)

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