Principal Financial Group, Inc. (NYSE:PFG) Holdings Lowered by Park Avenue Securities LLC

Park Avenue Securities LLC lowered its stake in Principal Financial Group, Inc. (NYSE:PFG) by 8.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,453 shares of the company’s stock after selling 770 shares during the quarter. Park Avenue Securities LLC’s holdings in Principal Financial Group were worth $726,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. EdgeRock Capital LLC purchased a new position in Principal Financial Group during the 2nd quarter worth approximately $26,000. Strategic Financial Concepts LLC purchased a new position in Principal Financial Group during the 2nd quarter valued at about $32,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Principal Financial Group in the 4th quarter valued at about $33,000. Family Firm Inc. purchased a new stake in shares of Principal Financial Group in the second quarter worth approximately $33,000. Finally, Riverview Trust Co acquired a new stake in shares of Principal Financial Group during the first quarter worth approximately $34,000. 75.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Barclays increased their target price on shares of Principal Financial Group from $74.00 to $75.00 and gave the stock an “underweight” rating in a research report on Wednesday. Keefe, Bruyette & Woods reduced their price objective on 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. Morgan Stanley cut their price target on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Jefferies Financial Group lifted their price target on Principal Financial Group from $73.00 to $76.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Finally, JPMorgan Chase & Co. upgraded Principal Financial Group from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $88.00 to $96.00 in a report on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Principal Financial Group presently has an average rating of “Hold” and a consensus price target of $85.42.

Principal Financial Group Price Performance

Shares of NYSE:PFG opened at $87.48 on Friday. Principal Financial Group, Inc. has a twelve month low of $66.21 and a twelve month high of $88.26. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The company has a market cap of $20.50 billion, a price-to-earnings ratio of 16.69, a PEG ratio of 0.90 and a beta of 1.19. The business has a 50 day moving average price of $80.63 and a 200 day moving average price of $81.36.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.87 by ($0.24). The firm had revenue of $4.31 billion for the quarter, compared to analyst estimates of $3.78 billion. Principal Financial Group had a return on equity of 14.92% and a net margin of 8.05%. During the same period in the previous year, the business posted $1.53 EPS. Research analysts predict that Principal Financial Group, Inc. will post 7.3 earnings per share for the current year.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Thursday, September 5th were given a $0.72 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a yield of 3.29%. Principal Financial Group’s payout ratio is 54.96%.

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.