KBC Group NV Buys 1,046 Shares of Principal Financial Group, Inc. (NYSE:PFG)

KBC Group NV boosted its stake in Principal Financial Group, Inc. (NYSE:PFG) by 1.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 58,464 shares of the company’s stock after acquiring an additional 1,046 shares during the period. KBC Group NV’s holdings in Principal Financial Group were worth $5,022,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PFG. Cetera Investment Advisers raised its holdings in shares of Principal Financial Group by 108.1% in the 1st quarter. Cetera Investment Advisers now owns 53,579 shares of the company’s stock worth $4,624,000 after purchasing an additional 27,827 shares during the period. Sei Investments Co. lifted its position in shares of Principal Financial Group by 59.4% during the 1st quarter. Sei Investments Co. now owns 24,275 shares of the company’s stock valued at $2,095,000 after buying an additional 9,048 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Principal Financial Group by 57.3% during the 2nd quarter. SG Americas Securities LLC now owns 178,635 shares of the company’s stock worth $14,014,000 after acquiring an additional 65,070 shares during the period. Tidal Investments LLC raised its stake in Principal Financial Group by 54.2% in the 1st quarter. Tidal Investments LLC now owns 26,847 shares of the company’s stock valued at $2,317,000 after acquiring an additional 9,432 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in Principal Financial Group by 10.0% during the first quarter. Acadian Asset Management LLC now owns 70,380 shares of the company’s stock valued at $6,071,000 after purchasing an additional 6,375 shares during the last quarter. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lowered their price target on shares of Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 30th. Piper Sandler increased their target price on Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada lifted their price target on 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. Citigroup increased their price objective on Principal Financial Group from $68.00 to $70.00 and gave the stock a “sell” rating in a report on Tuesday, July 23rd. Finally, Bank of America reduced their target price on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $85.58.

Principal Financial Group Stock Performance

Principal Financial Group stock opened at $86.56 on Monday. Principal Financial Group, Inc. has a fifty-two week low of $71.37 and a fifty-two week high of $91.97. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a market cap of $19.80 billion, a P/E ratio of -96.18, a price-to-earnings-growth ratio of 1.00 and a beta of 1.20. The firm’s fifty day moving average price is $85.60 and its 200-day moving average price is $82.23.

Principal Financial Group (NYSE:PFG) last released its quarterly 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 firm had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the previous year, the business earned $1.72 EPS. On average, equities research analysts expect that Principal Financial Group, Inc. will post 7.09 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be given a $0.73 dividend. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, December 2nd. This represents a $2.92 dividend on an annualized basis and a yield of 3.37%. Principal Financial Group’s payout ratio is presently -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.