JPMorgan Chase & Co. Has $211.53 Million Holdings in Principal Financial Group, Inc. (NYSE:PFG)

JPMorgan Chase & Co. raised its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 5.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,462,562 shares of the company’s stock after acquiring an additional 118,722 shares during the period. JPMorgan Chase & Co. owned about 1.08% of Principal Financial Group worth $211,534,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Strategic Financial Concepts LLC bought a new stake in Principal Financial Group during the 2nd quarter worth approximately $32,000. Peterson Financial Group Inc. bought a new stake in shares of Principal Financial Group during the third quarter worth $33,000. Truvestments Capital LLC bought a new stake in shares of Principal Financial Group during the third quarter worth $43,000. Prospera Private Wealth LLC bought a new stake in Principal Financial Group in the 3rd quarter valued at $45,000. Finally, MCF Advisors LLC boosted its stake in Principal Financial Group by 55.6% in the 2nd quarter. MCF Advisors LLC now owns 613 shares of the company’s stock worth $48,000 after purchasing an additional 219 shares during the period. 75.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PFG shares. Morgan Stanley reissued an “underweight” rating and issued a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Bank of America dropped their target price on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Barclays upped their price target on Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Royal Bank of Canada lifted 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 report on Tuesday, November 19th. Finally, Wells Fargo & Company restated an “underweight” rating and set a $75.00 target price (down previously from $84.00) on shares of Principal Financial Group in a report on Wednesday, December 11th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $84.75.

Principal Financial Group Stock Down 0.6 %

Shares of PFG stock opened at $77.23 on Tuesday. Principal Financial Group, Inc. has a 52-week low of $72.21 and a 52-week high of $91.97. The stock has a market cap of $17.66 billion, a price-to-earnings ratio of -85.81, a PEG ratio of 0.92 and a beta of 1.20. The firm’s 50-day moving average is $83.22 and its 200-day moving average is $82.26. 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 (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 the consensus estimate 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 the consensus estimate of $3.92 billion. During the same quarter in the prior year, the company earned $1.72 EPS. Sell-side analysts predict that Principal Financial Group, Inc. will post 7.03 EPS for the current year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 3.78%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.72. The ex-dividend date was Monday, December 2nd. Principal Financial Group’s 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.