Gulf International Bank UK Ltd Sells 942 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Gulf International Bank UK Ltd decreased its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 4.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 19,116 shares of the company’s stock after selling 942 shares during the period. Gulf International Bank UK Ltd’s holdings in Principal Financial Group were worth $1,642,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. EdgeRock Capital LLC bought a new stake in shares of Principal Financial Group during the second quarter worth approximately $26,000. Strategic Financial Concepts LLC acquired a new stake in Principal Financial Group during the 2nd quarter worth approximately $32,000. Family Firm Inc. bought a new stake in Principal Financial Group in the 2nd quarter valued at $33,000. Innealta Capital LLC acquired a new position in Principal Financial Group in the 2nd quarter valued at $43,000. Finally, MCF Advisors LLC increased its position in Principal Financial Group by 55.6% during the 2nd quarter. MCF Advisors LLC now owns 613 shares of the company’s stock worth $48,000 after buying an additional 219 shares during the period. Institutional investors and hedge funds own 75.08% of the company’s stock.

Wall Street Analyst Weigh In

PFG has been the subject of a number of recent research reports. Bank of America reduced their target price 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. Royal Bank of Canada raised their target price on shares of Principal Financial Group from $83.00 to $87.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods cut 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 note on Tuesday, July 30th. Citigroup raised their price objective 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. Finally, Jefferies Financial Group upped their target price on Principal Financial Group from $73.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Principal Financial Group currently has a consensus rating of “Hold” and a consensus price target of $85.58.

Principal Financial Group Stock Down 0.2 %

Shares of NYSE PFG opened at $86.00 on Friday. The company has a market cap of $19.67 billion, a price-to-earnings ratio of -95.55, a PEG ratio of 0.94 and a beta of 1.20. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. Principal Financial Group, Inc. has a 12 month low of $68.69 and a 12 month high of $91.97. The stock has a 50-day moving average price of $84.76 and a two-hundred day moving average price of $81.93.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Thursday, October 24th. The company reported $1.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.26). Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the company earned $1.72 earnings per share. As a group, analysts forecast that Principal Financial Group, Inc. will post 7.12 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. Investors of record on Monday, December 2nd will be given 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 3.40%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s payout ratio is currently -320.00%.

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.