Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lessened its stake in Principal Financial Group, Inc. (NYSE:PFG) by 8.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,843 shares of the company’s stock after selling 1,406 shares during the quarter. Kentucky Retirement Systems’ holdings in Principal Financial Group were worth $1,275,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Empowered Funds LLC lifted its holdings in Principal Financial Group by 358.7% in the third quarter. Empowered Funds LLC now owns 16,328 shares of the company’s stock valued at $1,403,000 after acquiring an additional 12,768 shares during the period. Empirical Finance LLC lifted its stake in shares of Principal Financial Group by 1.8% in the 3rd quarter. Empirical Finance LLC now owns 7,875 shares of the company’s stock valued at $676,000 after purchasing an additional 142 shares during the period. CIBC Asset Management Inc boosted its holdings in Principal Financial Group by 5.8% during the third quarter. CIBC Asset Management Inc now owns 37,729 shares of the company’s stock worth $3,241,000 after buying an additional 2,081 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Principal Financial Group by 13.1% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,910 shares of the company’s stock worth $594,000 after buying an additional 798 shares in the last quarter. Finally, Metis Global Partners LLC grew its position in Principal Financial Group by 5.0% during the third quarter. Metis Global Partners LLC now owns 11,230 shares of the company’s stock valued at $965,000 after buying an additional 533 shares during the period. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on PFG shares. Bank of America decreased their price objective on shares of Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a research report on Thursday, October 10th. Morgan Stanley lowered 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 report on Monday, August 19th. Royal Bank of Canada raised 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. Barclays upped their target price on Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Finally, Citigroup lifted their price target on shares of Principal Financial Group from $68.00 to $70.00 and gave the company a “sell” rating in a research note on Tuesday, July 23rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $85.58.

Principal Financial Group Price Performance

Shares of NYSE PFG opened at $86.07 on Tuesday. The stock has a market capitalization of $19.69 billion, a price-to-earnings ratio of -95.63, a price-to-earnings-growth ratio of 1.00 and a beta of 1.20. Principal Financial Group, Inc. has a 52 week low of $71.39 and a 52 week high of $91.97. The firm has a 50-day simple moving average of $85.74 and a 200-day simple moving average of $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 (NYSE:PFG) last released 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 quarter in the previous year, the company posted $1.72 EPS. On average, equities analysts predict 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 disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.73 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.92 dividend on an annualized basis and a yield of 3.39%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s payout ratio is -324.44%.

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.