Principal Financial Group, Inc. (NYSE:PFG) Stake Raised by Glenmede Trust Co. NA

Glenmede Trust Co. NA boosted its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 2.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,004 shares of the company’s stock after acquiring an additional 291 shares during the quarter. Glenmede Trust Co. NA’s holdings in Principal Financial Group were worth $1,031,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its stake in shares of Principal Financial Group by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,905,124 shares of the company’s stock valued at $306,393,000 after purchasing an additional 39,854 shares in the last quarter. Bank of New York Mellon Corp grew its position in Principal Financial Group by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,903,138 shares of the company’s stock valued at $149,301,000 after buying an additional 53,516 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Principal Financial Group by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,403,689 shares of the company’s stock valued at $120,577,000 after buying an additional 18,801 shares during the period. AustralianSuper Pty Ltd raised its position in shares of Principal Financial Group by 27.2% during the 3rd quarter. AustralianSuper Pty Ltd now owns 540,212 shares of the company’s stock worth $46,404,000 after buying an additional 115,569 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in shares of Principal Financial Group by 41.0% in the 3rd quarter. Bank of Montreal Can now owns 503,735 shares of the company’s stock worth $43,367,000 after acquiring an additional 146,473 shares during the period. Institutional investors and hedge funds own 75.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PFG. Royal Bank of Canada boosted their target price on Principal Financial Group from $87.00 to $91.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 19th. Piper Sandler upped their price objective on Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Bank of America lowered their target price on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a report on Thursday, October 10th. Barclays upped their price target on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Finally, Wells Fargo & Company lifted their price objective on shares of 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. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $85.92.

Principal Financial Group Stock Performance

Shares of PFG stock opened at $85.42 on Tuesday. The company has a market capitalization of $19.54 billion, a price-to-earnings ratio of -94.91, a P/E/G ratio of 1.01 and a beta of 1.20. Principal Financial Group, Inc. has a 1-year low of $72.21 and a 1-year high of $91.97. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. The stock’s fifty day simple moving average is $86.41 and its 200-day simple moving average is $82.45.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings data on Thursday, October 24th. The company reported $1.76 earnings per share (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 firm had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the business posted $1.72 EPS. On average, sell-side analysts predict that Principal Financial Group, Inc. will post 7.04 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.73 per share. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, December 2nd. This represents a $2.92 annualized dividend and a dividend yield of 3.42%. Principal Financial Group’s dividend payout ratio is -324.44%.

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.