Mackenzie Financial Corp Has $2.45 Million Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Mackenzie Financial Corp cut its stake in Principal Financial Group, Inc. (NYSE:PFG) by 2.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,278 shares of the company’s stock after selling 853 shares during the period. Mackenzie Financial Corp’s holdings in Principal Financial Group were worth $2,454,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of PFG. Capital Research Global Investors raised its position in Principal Financial Group by 2.4% in the 1st quarter. Capital Research Global Investors now owns 6,602,298 shares of the company’s stock worth $569,844,000 after purchasing an additional 152,774 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Principal Financial Group by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,905,124 shares of the company’s stock worth $306,393,000 after acquiring an additional 39,854 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Principal Financial Group by 10.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,157,712 shares of the company’s stock worth $169,747,000 after acquiring an additional 200,056 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Principal Financial Group by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 1,903,138 shares of the company’s stock valued at $149,301,000 after acquiring an additional 53,516 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Principal Financial Group by 6.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 692,694 shares of the company’s stock valued at $59,786,000 after acquiring an additional 43,190 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PFG has been the topic of a number of research reports. Morgan Stanley cut their target price on shares of 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. Keefe, Bruyette & Woods cut their price objective on shares of 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. Bank of America lifted their target price on shares of Principal Financial Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Royal Bank of Canada upped their target price on shares of Principal Financial Group from $83.00 to $87.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Finally, Jefferies Financial Group raised their price target on Principal Financial Group from $73.00 to $76.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $85.50.

Principal Financial Group Stock Down 0.1 %

Shares of Principal Financial Group stock opened at $85.08 on Thursday. The company has a market capitalization of $19.70 billion, a P/E ratio of 16.24, a price-to-earnings-growth ratio of 0.91 and a beta of 1.19. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.29. The business has a 50-day moving average of $80.23 and a two-hundred day moving average of $81.27. Principal Financial Group, Inc. has a 1 year low of $66.21 and a 1 year high of $88.26.

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

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Thursday, September 5th were paid a $0.72 dividend. The ex-dividend date was Thursday, September 5th. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a yield of 3.39%. Principal Financial Group’s dividend payout ratio is presently 54.96%.

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.