Sciencast Management LP Has $698,000 Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Sciencast Management LP decreased its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 21.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,090 shares of the company’s stock after selling 2,252 shares during the quarter. Sciencast Management LP’s holdings in Principal Financial Group were worth $698,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PFG. Spire Wealth Management grew its holdings in shares of Principal Financial Group by 152.0% in the 4th quarter. Spire Wealth Management now owns 373 shares of the company’s stock valued at $29,000 after acquiring an additional 225 shares in the last quarter. EdgeRock Capital LLC bought a new stake in shares of Principal Financial Group during the 4th quarter worth approximately $31,000. Fortis Group Advisors LLC bought a new stake in shares of Principal Financial Group during the 3rd quarter worth approximately $33,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Principal Financial Group in the 4th quarter valued at approximately $33,000. Finally, Riverview Trust Co bought a new position in shares of Principal Financial Group in the first quarter valued at $34,000. Institutional investors own 75.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PFG. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from an “underweight” rating to a “neutral” rating and increased their price target for the company from $88.00 to $96.00 in a research note on Tuesday, July 2nd. Raymond James upgraded shares of Principal Financial Group from a “market perform” rating to a “strong-buy” rating and set a $99.00 target price for the company in a research note on Tuesday. Morgan Stanley boosted their price target on Principal Financial Group from $81.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Piper Sandler raised their price objective on Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Finally, Keefe, Bruyette & Woods boosted their target price on Principal Financial Group from $85.00 to $89.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $84.92.

Principal Financial Group Stock Performance

Shares of Principal Financial Group stock traded up $1.05 during trading on Friday, reaching $84.93. The company’s stock had a trading volume of 871,379 shares, compared to its average volume of 1,096,943. Principal Financial Group, Inc. has a 52 week low of $66.21 and a 52 week high of $86.79. The firm has a market cap of $19.91 billion, a PE ratio of 16.21, a P/E/G ratio of 0.89 and a beta of 1.21. The business’s 50-day moving average price is $80.88 and its 200-day moving average price is $80.66. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.35.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Thursday, April 25th. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.09). Principal Financial Group had a net margin of 8.70% and a return on equity of 15.06%. The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same period in the prior year, the firm earned $1.48 EPS. Equities analysts forecast that Principal Financial Group, Inc. will post 7.42 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Monday, June 3rd were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend was Monday, June 3rd. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.69. Principal Financial Group’s dividend payout ratio (DPR) is 54.20%.

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.