Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC reduced its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 4.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,030 shares of the company’s stock after selling 414 shares during the period. Park Avenue Securities LLC’s holdings in Principal Financial Group were worth $678,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kingsview Wealth Management LLC raised its holdings in shares of Principal Financial Group by 9.0% during the 4th quarter. Kingsview Wealth Management LLC now owns 3,804 shares of the company’s stock worth $294,000 after acquiring an additional 314 shares during the period. Leavell Investment Management Inc. grew its holdings in shares of Principal Financial Group by 5.4% in the fourth quarter. Leavell Investment Management Inc. now owns 2,693 shares of the company’s stock valued at $208,000 after purchasing an additional 138 shares during the period. Asset Management One Co. Ltd. increased its position in Principal Financial Group by 0.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 109,548 shares of the company’s stock worth $8,513,000 after purchasing an additional 448 shares during the last quarter. IMS Capital Management purchased a new position in Principal Financial Group during the fourth quarter worth about $224,000. Finally, V Square Quantitative Management LLC boosted its holdings in Principal Financial Group by 6.4% in the 4th quarter. V Square Quantitative Management LLC now owns 8,185 shares of the company’s stock valued at $634,000 after purchasing an additional 493 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Stock Performance

Shares of PFG stock opened at $75.90 on Friday. Principal Financial Group, Inc. has a 52 week low of $68.39 and a 52 week high of $91.98. The firm has a 50 day moving average of $76.32 and a two-hundred day moving average of $80.05. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $17.02 billion, a PE ratio of 11.36, a P/E/G ratio of 0.76 and a beta of 1.00.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Monday, April 28th. The company reported $1.81 earnings per share for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.02). Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%. During the same period in the previous year, the business posted $1.65 EPS. On average, research analysts predict that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 4.01%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.75. Principal Financial Group’s dividend payout ratio is currently 65.10%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PFG. Barclays decreased their price objective on Principal Financial Group from $80.00 to $76.00 and set an “underweight” rating on the stock in a report on Friday, April 11th. Piper Sandler upped their price target on Principal Financial Group from $93.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. UBS Group cut their price objective on Principal Financial Group from $93.00 to $80.00 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Wells Fargo & Company boosted their price objective on shares of Principal Financial Group from $68.00 to $69.00 and gave the company an “underweight” rating in a report on Tuesday, April 29th. Finally, Morgan Stanley increased their target price on shares of Principal Financial Group from $67.00 to $71.00 and gave the stock an “underweight” rating in a research note on Monday, May 19th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $83.85.

Principal Financial Group 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.