Swiss National Bank Sells 42,400 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Swiss National Bank lessened its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 5.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 714,000 shares of the company’s stock after selling 42,400 shares during the period. Swiss National Bank owned about 0.30% of Principal Financial Group worth $61,625,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Spire Wealth Management grew its holdings in shares of Principal Financial Group by 152.0% during the fourth quarter. Spire Wealth Management now owns 373 shares of the company’s stock worth $29,000 after purchasing an additional 225 shares during the last quarter. Riverview Trust Co bought a new stake in shares of Principal Financial Group during the first quarter worth about $34,000. EdgeRock Capital LLC acquired a new position in shares of Principal Financial Group in the fourth quarter worth approximately $31,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Principal Financial Group in the fourth quarter worth approximately $33,000. Finally, PrairieView Partners LLC acquired a new position in shares of Principal Financial Group in the fourth quarter worth approximately $39,000. Institutional investors own 75.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on PFG. Evercore ISI lifted their price objective on Principal Financial Group from $84.00 to $86.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Bank of America boosted their price target on Principal Financial Group from $87.00 to $94.00 and gave the company a “neutral” rating in a research note on Thursday. Jefferies Financial Group boosted their price target on Principal Financial Group from $74.00 to $78.00 and gave the company a “hold” rating in a research note on Friday, June 28th. Raymond James raised Principal Financial Group from a “market perform” rating to a “strong-buy” rating and set a $99.00 price target on the stock in a research note on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods boosted their price target on Principal Financial Group from $85.00 to $89.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $84.92.

Principal Financial Group Stock Up 1.3 %

Principal Financial Group stock traded up $1.05 during trading on Friday, hitting $84.93. 871,379 shares of the company were exchanged, compared to its average volume of 1,117,401. The business’s 50 day moving average is $80.88 and its 200 day moving average is $80.67. Principal Financial Group, Inc. has a 52 week low of $66.21 and a 52 week high of $86.79. The company has a market capitalization of $19.91 billion, a P/E ratio of 16.21, a PEG ratio of 0.92 and a beta of 1.21. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.35.

Principal Financial Group (NYSE:PFG) last announced 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). The business had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $3.68 billion. Principal Financial Group had a net margin of 8.70% and a return on equity of 15.06%. During the same quarter last year, the company earned $1.48 EPS. Analysts predict that Principal Financial Group, Inc. will post 7.43 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Monday, June 3rd were paid a $0.71 dividend. 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 an increase from Principal Financial Group’s previous quarterly dividend of $0.69. Principal Financial Group’s dividend payout ratio is 54.20%.

About Principal Financial Group

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.