Swiss National Bank Has $59.78 Million Position in Principal Financial Group, Inc. (NYSE:PFG)

Swiss National Bank lessened its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 0.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 695,900 shares of the company’s stock after selling 300 shares during the quarter. Swiss National Bank owned 0.30% of Principal Financial Group worth $59,778,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC raised its position in shares of Principal Financial Group by 403.6% in the 2nd quarter. Acadian Asset Management LLC now owns 354,447 shares of the company’s stock valued at $27,800,000 after acquiring an additional 284,067 shares during the period. Massachusetts Financial Services Co. MA bought a new position in Principal Financial Group during the 2nd quarter worth $19,698,000. Swedbank AB acquired a new stake in Principal Financial Group in the 1st quarter worth about $13,996,000. Capital Research Global Investors grew its position in Principal Financial Group by 2.4% during the first quarter. Capital Research Global Investors now owns 6,602,298 shares of the company’s stock worth $569,844,000 after buying an additional 152,774 shares in the last quarter. Finally, Mizuho Securities USA LLC increased its position in shares of Principal Financial Group by 818.1% in the third quarter. Mizuho Securities USA LLC now owns 152,648 shares of the company’s stock worth $13,112,000 after purchasing an additional 136,021 shares during the period. Institutional investors own 75.08% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on PFG. Piper Sandler boosted their price objective on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Morgan Stanley cut their price objective on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Bank of America dropped their target price on shares of Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Keefe, Bruyette & Woods cut their target price 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. Finally, Wells Fargo & Company lifted their price target on Principal Financial Group from $85.00 to $86.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $85.92.

Principal Financial Group Price Performance

Shares of NYSE PFG opened at $84.18 on Wednesday. The firm has a market cap of $19.25 billion, a price-to-earnings ratio of -93.53, a price-to-earnings-growth ratio of 1.00 and a beta of 1.20. The stock has a fifty day simple moving average of $85.84 and a two-hundred day simple moving average of $82.30. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. Principal Financial Group, Inc. has a 1-year low of $71.39 and a 1-year high of $91.97.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Thursday, October 24th. The company reported $1.76 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.26). Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period last year, the business posted $1.72 earnings per share. Analysts anticipate 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. Shareholders of record on Monday, December 2nd will be paid a $0.73 dividend. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. This represents a $2.92 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Monday, December 2nd. Principal Financial Group’s dividend payout ratio is currently -320.00%.

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.