Koshinski Asset Management Inc. Sells 201 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Koshinski Asset Management Inc. lessened its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 6.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,880 shares of the company’s stock after selling 201 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Principal Financial Group were worth $247,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Acadian Asset Management LLC lifted its holdings in shares of Principal Financial Group by 403.6% during the 2nd quarter. Acadian Asset Management LLC now owns 354,447 shares of the company’s stock valued at $27,800,000 after purchasing an additional 284,067 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Principal Financial Group in the second quarter worth about $19,698,000. AMF Tjanstepension AB grew its stake in shares of Principal Financial Group by 282.0% during the first quarter. AMF Tjanstepension AB now owns 308,308 shares of the company’s stock worth $26,633,000 after acquiring an additional 227,608 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Principal Financial Group by 165.2% during the first quarter. BNP Paribas Financial Markets now owns 337,877 shares of the company’s stock valued at $29,162,000 after acquiring an additional 210,476 shares in the last quarter. Finally, Intech Investment Management LLC raised its position in shares of Principal Financial Group by 586.1% in the 1st quarter. Intech Investment Management LLC now owns 234,815 shares of the company’s stock valued at $20,267,000 after purchasing an additional 200,588 shares during the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

PFG opened at $89.99 on Wednesday. The firm has a fifty day moving average price of $81.74 and a 200 day moving average price of $81.43. Principal Financial Group, Inc. has a 1 year low of $66.21 and a 1 year high of $90.93. The stock has a market cap of $21.09 billion, a P/E ratio of 17.17, a P/E/G ratio of 0.92 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.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.63 earnings per share 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 firm had revenue of $4.31 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter last year, the company posted $1.53 EPS. Equities research analysts anticipate that Principal Financial Group, Inc. will post 7.31 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Thursday, September 5th were given a dividend of $0.72 per share. The ex-dividend date was Thursday, September 5th. This represents a $2.88 dividend on an annualized basis and a yield of 3.20%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.71. Principal Financial Group’s dividend payout ratio is currently 54.96%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PFG shares. Piper Sandler upped their price target on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Raymond James upgraded Principal Financial Group from a “market perform” rating to a “strong-buy” rating and set a $99.00 target price for the company in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods lowered their price target on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating for the company in a research report on Tuesday, July 30th. Bank of America cut their price objective on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Finally, Royal Bank of Canada lifted their target price 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. Two investment 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 company presently has a consensus rating of “Hold” and an average price target of $85.42.

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.