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

Kentucky Retirement Systems Insurance Trust Fund lessened its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 9.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,308 shares of the company’s stock after selling 647 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Principal Financial Group were worth $542,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PFG. Sei Investments Co. boosted its stake 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 valued at $2,095,000 after acquiring an additional 9,048 shares during the last quarter. Blair William & Co. IL grew its holdings in shares of Principal Financial Group by 7.5% during the first quarter. Blair William & Co. IL now owns 4,905 shares of the company’s stock worth $423,000 after buying an additional 342 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Principal Financial Group by 10.0% in the first quarter. Acadian Asset Management LLC now owns 70,380 shares of the company’s stock valued at $6,071,000 after buying an additional 6,375 shares during the last quarter. UniSuper Management Pty Ltd lifted its stake in shares of Principal Financial Group by 437.5% during the first quarter. UniSuper Management Pty Ltd now owns 14,427 shares of the company’s stock valued at $1,245,000 after buying an additional 11,743 shares during the period. Finally, Bessemer Group Inc. boosted its position in Principal Financial Group by 473.8% during the first quarter. Bessemer Group Inc. now owns 19,423 shares of the company’s stock worth $1,675,000 after acquiring an additional 16,038 shares during the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on PFG shares. Royal Bank of Canada boosted their price target 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 lifted their price target on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Morgan Stanley lowered their price objective on shares of Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Keefe, Bruyette & Woods reduced 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, Citigroup upped their price target on Principal Financial Group from $68.00 to $70.00 and gave the stock a “sell” rating in a research note on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $85.58.

Principal Financial Group Price Performance

PFG stock opened at $86.07 on Tuesday. The firm has a market cap of $19.69 billion, a P/E 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 1 year low of $71.39 and a 1 year high of $91.97. The stock has a 50-day simple moving average of $85.74 and a 200-day simple moving average of $82.27. 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 posted 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). The firm had revenue of $3.01 billion for the quarter, compared to analyst estimates 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. 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 company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be given a $0.73 dividend. This is a boost 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 3.39%. The ex-dividend date is Monday, December 2nd. Principal Financial Group’s dividend payout ratio is presently -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.