Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by TD Asset Management Inc

TD Asset Management Inc lessened its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 12.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 80,906 shares of the company’s stock after selling 11,409 shares during the quarter. TD Asset Management Inc’s holdings in Principal Financial Group were worth $6,347,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Strategy Asset Managers LLC acquired a new stake in Principal Financial Group during the 2nd quarter valued at $643,000. Rhumbline Advisers grew its holdings in Principal Financial Group by 0.5% during the 2nd quarter. Rhumbline Advisers now owns 478,129 shares of the company’s stock valued at $37,509,000 after buying an additional 2,487 shares during the last quarter. Elevated Capital Advisors LLC acquired a new stake in Principal Financial Group during the 2nd quarter valued at $721,000. Natixis Advisors LLC grew its holdings in Principal Financial Group by 16.5% during the 2nd quarter. Natixis Advisors LLC now owns 78,879 shares of the company’s stock valued at $6,188,000 after buying an additional 11,169 shares during the last quarter. Finally, Nilsine Partners LLC boosted its holdings in shares of Principal Financial Group by 7.1% during the second quarter. Nilsine Partners LLC now owns 3,974 shares of the company’s stock worth $312,000 after purchasing an additional 264 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PFG. Keefe, Bruyette & Woods decreased their price objective 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. Wells Fargo & Company decreased their price objective on Principal Financial Group from $87.00 to $85.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. Royal Bank of Canada raised 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. Jefferies Financial Group raised their price objective on Principal Financial Group from $73.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. Finally, Morgan Stanley cut their target price 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. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $85.50.

Principal Financial Group Trading Up 0.1 %

NYSE:PFG opened at $79.30 on Wednesday. The business’s 50-day moving average is $79.93 and its two-hundred day moving average is $80.87. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.29. Principal Financial Group, Inc. has a 12 month low of $66.21 and a 12 month high of $88.26. The firm has a market capitalization of $18.59 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 0.82 and a beta of 1.20.

Principal Financial Group (NYSE:PFG) last announced its earnings results on Thursday, July 25th. The company reported $1.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.24). Principal Financial Group had a return on equity of 14.92% and a net margin of 8.05%. The business had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same period in the previous year, the firm posted $1.53 earnings per share. Research analysts predict that Principal Financial Group, Inc. will post 7.31 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Thursday, September 5th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 3.63%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Thursday, September 5th. Principal Financial Group’s payout ratio is presently 54.96%.

Principal Financial Group Company 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.