Principal Financial Group, Inc. (NYSE:PFG) Stock Position Decreased by Quest Partners LLC

Quest Partners LLC decreased its position in Principal Financial Group, Inc. (NYSE:PFG) by 8.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,646 shares of the company’s stock after selling 2,410 shares during the quarter. Quest Partners LLC’s holdings in Principal Financial Group were worth $2,117,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. S&CO Inc. bought a new stake in Principal Financial Group in the third quarter worth approximately $214,000. Peterson Financial Group Inc. acquired a new stake in shares of Principal Financial Group in the 3rd quarter valued at $33,000. GoalVest Advisory LLC boosted its holdings in Principal Financial Group by 5.6% in the third quarter. GoalVest Advisory LLC now owns 18,024 shares of the company’s stock worth $1,548,000 after purchasing an additional 960 shares in the last quarter. RIA Advisory Group LLC acquired a new position in Principal Financial Group during the third quarter worth $638,000. Finally, Natixis Advisors LLC increased its position in Principal Financial Group by 11.7% during the third quarter. Natixis Advisors LLC now owns 88,088 shares of the company’s stock worth $7,567,000 after buying an additional 9,209 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Trading Down 0.6 %

Shares of PFG opened at $86.07 on Tuesday. The stock’s 50-day moving average price is $85.74 and its 200 day moving average price is $82.27. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. Principal Financial Group, Inc. has a 12-month low of $71.39 and a 12-month high of $91.97. The firm has a market capitalization of $19.69 billion, a price-to-earnings ratio of 12.60, a P/E/G ratio of 1.00 and a beta of 1.20.

Principal Financial Group (NYSE:PFG) last issued its earnings results on Thursday, October 24th. The company reported $1.76 EPS for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.26). Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the previous year, the company posted $1.72 earnings per share. As a group, research analysts predict that Principal Financial Group, Inc. will post 7.09 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.73 per share. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. This represents a $2.92 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend is Monday, December 2nd. Principal Financial Group’s payout ratio is -320.00%.

Analysts Set New Price Targets

Several analysts have recently issued reports on PFG shares. Royal Bank of Canada increased their price objective on Principal Financial Group from $83.00 to $87.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods lowered their price target on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating on the stock in a report on Tuesday, July 30th. Piper Sandler boosted their price objective on shares of Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company upped their price objective on shares of Principal Financial Group from $85.00 to $86.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Finally, Morgan Stanley cut their target price on shares of Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Principal Financial Group currently has a consensus rating of “Hold” and a consensus target price of $85.58.

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.