Principal Financial Group, Inc. (NYSE:PFG) Shares Acquired by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. boosted its position in Principal Financial Group, Inc. (NYSE:PFG) by 13.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,910 shares of the company’s stock after purchasing an additional 798 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Principal Financial Group were worth $594,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted its holdings in shares of Principal Financial Group by 2.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 6,325 shares of the company’s stock valued at $493,000 after buying an additional 135 shares during the period. Ballentine Partners LLC boosted its position in shares of Principal Financial Group by 5.0% during the 2nd quarter. Ballentine Partners LLC now owns 2,906 shares of the company’s stock worth $228,000 after purchasing an additional 138 shares in the last quarter. Graypoint LLC grew its stake in shares of Principal Financial Group by 5.6% during the 2nd quarter. Graypoint LLC now owns 2,654 shares of the company’s stock worth $208,000 after purchasing an additional 140 shares during the period. Prime Capital Investment Advisors LLC increased its holdings in shares of Principal Financial Group by 2.3% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 6,358 shares of the company’s stock valued at $546,000 after purchasing an additional 142 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Principal Financial Group by 18.2% in the second quarter. EverSource Wealth Advisors LLC now owns 930 shares of the company’s stock valued at $76,000 after purchasing an additional 143 shares during the period. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Price Performance

Principal Financial Group stock opened at $86.56 on Friday. The firm’s 50-day moving average is $85.60 and its two-hundred day moving average is $82.20. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a market capitalization of $19.80 billion, a P/E ratio of -96.18, a P/E/G ratio of 1.00 and a beta of 1.20. Principal Financial Group, Inc. has a 12-month low of $71.37 and a 12-month high of $91.97.

Principal Financial Group (NYSE:PFG) last released its earnings results on Thursday, October 24th. The company reported $1.76 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.26). The firm had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. During the same period in the previous year, the firm posted $1.72 earnings per share. Equities analysts predict that Principal Financial Group, Inc. will post 7.12 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. Investors 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 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Monday, December 2nd. Principal Financial Group’s dividend payout ratio is presently -320.00%.

Wall Street Analysts Forecast Growth

PFG has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods dropped their target price on shares of Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating for the company in a report on Tuesday, July 30th. Royal Bank of Canada lifted their price objective on Principal Financial Group from $83.00 to $87.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Bank of America lowered their target price on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Piper Sandler lifted their price target on Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company boosted 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 research report 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 company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.