Robeco Institutional Asset Management B.V. Sells 7,222 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Robeco Institutional Asset Management B.V. lessened its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 11.9% during the 3rd quarter, Holdings Channel reports. The firm owned 53,702 shares of the company’s stock after selling 7,222 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Principal Financial Group were worth $4,613,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Acadian Asset Management LLC grew its holdings in Principal Financial Group by 403.6% during the 2nd quarter. Acadian Asset Management LLC now owns 354,447 shares of the company’s stock worth $27,800,000 after acquiring an additional 284,067 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in Principal Financial Group in the second quarter valued at about $19,698,000. Intech Investment Management LLC lifted its stake in Principal Financial Group by 586.1% in the first quarter. Intech Investment Management LLC now owns 234,815 shares of the company’s stock valued at $20,267,000 after buying an additional 200,588 shares during the period. Swedbank AB bought a new position in Principal Financial Group during the first quarter worth about $13,996,000. Finally, Capital Research Global Investors grew its position in shares of Principal Financial Group by 2.4% during the 1st quarter. Capital Research Global Investors now owns 6,602,298 shares of the company’s stock worth $569,844,000 after buying an additional 152,774 shares during the period. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Price Performance

Shares of PFG opened at $85.45 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. Principal Financial Group, Inc. has a twelve month low of $68.69 and a twelve month high of $91.97. The stock has a market capitalization of $19.54 billion, a P/E ratio of -94.94, a P/E/G ratio of 0.99 and a beta of 1.20. The company has a 50 day moving average of $84.95 and a 200-day moving average of $81.99.

Principal Financial Group (NYSE:PFG) last released its earnings results on Thursday, October 24th. The company reported $1.76 earnings per share for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.26). Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period last year, the business posted $1.72 EPS. As a group, equities research analysts forecast that Principal Financial Group, Inc. will post 7.12 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be issued a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 3.42%. The ex-dividend date is Monday, December 2nd. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s dividend payout ratio is presently -320.00%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PFG shares. Morgan Stanley cut their price target 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. Citigroup lifted their price target on shares of Principal Financial Group from $68.00 to $70.00 and gave the stock a “sell” rating in a research report on Tuesday, July 23rd. Bank of America dropped their price objective on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Wells Fargo & Company boosted their target price on Principal Financial Group from $85.00 to $86.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada raised their price target on Principal Financial Group from $83.00 to $87.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $85.58.

About Principal Financial Group

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.