Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP reduced its position in Principal Financial Group, Inc. (NYSE:PFG) by 77.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,852 shares of the company’s stock after selling 23,866 shares during the quarter. Quantbot Technologies LP’s holdings in Principal Financial Group were worth $589,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of PFG. Cetera Investment Advisers lifted its holdings in Principal Financial Group by 108.1% during the 1st quarter. Cetera Investment Advisers now owns 53,579 shares of the company’s stock worth $4,624,000 after buying an additional 27,827 shares in the last quarter. Cetera Advisors LLC grew its stake in Principal Financial Group by 242.0% during the 1st quarter. Cetera Advisors LLC now owns 32,533 shares of the company’s stock worth $2,808,000 after purchasing an additional 23,020 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Principal Financial Group by 5.6% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 76,615 shares of the company’s stock worth $6,497,000 after purchasing an additional 4,065 shares during the period. GAMMA Investing LLC increased its holdings in Principal Financial Group by 83.9% during the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the company’s stock worth $280,000 after purchasing an additional 1,630 shares during the period. Finally, DNB Asset Management AS raised its position in Principal Financial Group by 9.2% in the 2nd quarter. DNB Asset Management AS now owns 36,961 shares of the company’s stock valued at $2,900,000 after purchasing an additional 3,105 shares in the last quarter. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Stock Performance

Shares of PFG opened at $85.42 on Tuesday. The company’s 50 day simple moving average is $86.41 and its 200-day simple moving average is $82.45. Principal Financial Group, Inc. has a 12-month low of $72.21 and a 12-month high of $91.97. The firm has a market cap of $19.54 billion, a PE ratio of -94.91, a price-to-earnings-growth ratio of 1.01 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 (NYSE:PFG) last posted its quarterly earnings data on Thursday, October 24th. The company reported $1.76 EPS 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 analyst estimates of $3.92 billion. During the same quarter in the prior year, the firm posted $1.72 earnings per share. As a group, equities analysts predict that Principal Financial Group, Inc. will post 7.04 EPS for the current year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 3.42%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, December 2nd. Principal Financial Group’s dividend payout ratio (DPR) is presently -324.44%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Barclays upped their target price on shares of Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Royal Bank of Canada increased their price objective on shares of Principal Financial Group from $87.00 to $91.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 19th. Bank of America decreased their price objective 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. Piper Sandler raised their price target on Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company upped their price objective on Principal Financial Group from $85.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $85.92.

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.