Commerce Bank Lowers Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Commerce Bank cut its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 3.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 22,862 shares of the company’s stock after selling 813 shares during the period. Commerce Bank’s holdings in Principal Financial Group were worth $1,964,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Acadian Asset Management LLC increased its stake in Principal Financial Group by 403.6% during the second 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 last quarter. Massachusetts Financial Services Co. MA acquired a new position in Principal Financial Group during the second quarter valued at approximately $19,698,000. Swedbank AB purchased a new stake in Principal Financial Group during the first quarter worth approximately $13,996,000. Mizuho Securities USA LLC increased its position in shares of Principal Financial Group by 818.1% in the third quarter. Mizuho Securities USA LLC now owns 152,648 shares of the company’s stock worth $13,112,000 after acquiring an additional 136,021 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of Principal Financial Group by 6,593.7% in the third quarter. International Assets Investment Management LLC now owns 132,200 shares of the company’s stock worth $11,356,000 after acquiring an additional 130,225 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Trading Up 1.2 %

Principal Financial Group stock opened at $85.73 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. Principal Financial Group, Inc. has a 1 year low of $71.39 and a 1 year high of $91.97. The firm’s 50-day moving average is $86.12 and its 200-day moving average is $82.35. The company has a market cap of $19.61 billion, a P/E ratio of -95.25, a PEG ratio of 0.99 and a beta of 1.20.

Principal Financial Group (NYSE:PFG) last posted its earnings results on Thursday, October 24th. The company reported $1.76 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.26). The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $3.92 billion. Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. During the same period last year, the company posted $1.72 earnings per share. On average, equities analysts expect that Principal Financial Group, Inc. will post 7.04 earnings per share for the current year.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.73 per share. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.92 annualized dividend and a dividend yield of 3.41%. Principal Financial Group’s payout ratio is -320.00%.

Analyst Upgrades and Downgrades

PFG has been the subject of a number of research reports. Bank of America decreased their price target 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. Morgan Stanley cut their price target on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Wells Fargo & Company raised their price objective 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. Keefe, Bruyette & Woods cut their target price on 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. Finally, Royal Bank of Canada raised their price target on shares of Principal Financial Group from $87.00 to $91.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a strong buy rating to the stock. According to MarketBeat, Principal Financial Group presently has a consensus rating of “Hold” and a consensus target price of $85.92.

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.