Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lowered its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 14.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,147 shares of the company’s stock after selling 1,584 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Principal Financial Group were worth $786,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. EdgeRock Capital LLC acquired a new position in Principal Financial Group during the second quarter worth about $26,000. Family Firm Inc. purchased a new position in Principal Financial Group in the 2nd quarter valued at approximately $33,000. Innealta Capital LLC acquired a new position in Principal Financial Group during the second quarter worth $43,000. Capital Performance Advisors LLP purchased a new stake in Principal Financial Group during the third quarter worth $50,000. Finally, MCF Advisors LLC grew its holdings in Principal Financial Group by 55.6% in the second quarter. MCF Advisors LLC now owns 613 shares of the company’s stock valued at $48,000 after purchasing an additional 219 shares during the last quarter. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PFG has been the subject of several research reports. Wells Fargo & Company lifted their price target on Principal Financial Group from $85.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods cut their target price on shares of 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. Piper Sandler increased 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 report on Wednesday, October 2nd. Royal Bank of Canada lifted their price objective on Principal Financial Group from $87.00 to $91.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Finally, Morgan Stanley lowered their target price on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. 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. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $85.92.

Principal Financial Group Stock Down 2.2 %

PFG opened at $84.18 on Wednesday. The stock has a market capitalization of $19.25 billion, a price-to-earnings ratio of -93.53, a price-to-earnings-growth ratio of 1.00 and a beta of 1.20. Principal Financial Group, Inc. has a 12 month low of $71.39 and a 12 month high of $91.97. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. The business has a 50-day moving average of $85.84 and a two-hundred day moving average of $82.30.

Principal Financial Group (NYSE:PFG) last posted 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 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 analysts’ expectations of $3.92 billion. During the same period in the prior year, the business earned $1.72 EPS. On average, research analysts expect that Principal Financial Group, Inc. will post 7.09 earnings per share for the current 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 a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. This represents a $2.92 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend is Monday, December 2nd. Principal Financial Group’s dividend payout ratio (DPR) is -320.00%.

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.