Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by AMG National Trust Bank

AMG National Trust Bank reduced its stake in Principal Financial Group, Inc. (NYSE:PFG) by 10.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 108,697 shares of the company’s stock after selling 12,100 shares during the quarter. AMG National Trust Bank’s holdings in Principal Financial Group were worth $9,337,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PFG. Cetera Investment Advisers grew its stake in Principal Financial Group by 108.1% during the 1st quarter. Cetera Investment Advisers now owns 53,579 shares of the company’s stock worth $4,624,000 after purchasing an additional 27,827 shares in the last quarter. Sei Investments Co. grew its position in shares of Principal Financial Group by 59.4% during the first quarter. Sei Investments Co. now owns 24,275 shares of the company’s stock worth $2,095,000 after buying an additional 9,048 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Principal Financial Group by 57.3% during the second quarter. SG Americas Securities LLC now owns 178,635 shares of the company’s stock worth $14,014,000 after buying an additional 65,070 shares during the period. Tidal Investments LLC raised its holdings in Principal Financial Group by 54.2% in the first quarter. Tidal Investments LLC now owns 26,847 shares of the company’s stock valued at $2,317,000 after acquiring an additional 9,432 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its stake in Principal Financial Group by 10.0% in the first quarter. Acadian Asset Management LLC now owns 70,380 shares of the company’s stock worth $6,071,000 after acquiring an additional 6,375 shares during the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

Shares of PFG stock opened at $86.56 on Monday. Principal Financial Group, Inc. has a 1 year low of $71.37 and a 1 year high of $91.97. The stock has a market cap of $19.80 billion, a PE ratio of -96.18, a P/E/G ratio of 1.00 and a beta of 1.20. The stock has a fifty day moving average price of $85.60 and a 200 day moving average price of $82.23. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30.

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

Principal Financial Group Increases Dividend

The business 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. The ex-dividend date is Monday, December 2nd. This represents a $2.92 dividend on an annualized basis and a yield of 3.37%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s dividend payout ratio is presently -320.00%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PFG. Morgan Stanley cut their price target 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. Piper Sandler raised their target price on Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company upped their price target on Principal Financial Group from $85.00 to $86.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Royal Bank of Canada raised their price objective on shares of Principal Financial Group from $83.00 to $87.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Finally, Bank of America lowered their target price on shares of Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average 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.