Truist Financial Corp Has $849,000 Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Truist Financial Corp trimmed its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 15.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,817 shares of the company’s stock after selling 1,943 shares during the quarter. Truist Financial Corp’s holdings in Principal Financial Group were worth $849,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. EdgeRock Capital LLC acquired a new stake in Principal Financial Group during the second quarter valued at approximately $26,000. Riverview Trust Co acquired a new position in shares of Principal Financial Group in the 1st quarter worth approximately $34,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Principal Financial Group in the 4th quarter worth approximately $33,000. Family Firm Inc. acquired a new position in shares of Principal Financial Group in the 2nd quarter worth approximately $33,000. Finally, Salomon & Ludwin LLC boosted its holdings in shares of Principal Financial Group by 319.3% in the 1st quarter. Salomon & Ludwin LLC now owns 499 shares of the company’s stock worth $43,000 after acquiring an additional 380 shares in the last quarter. 75.08% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Trading Up 0.6 %

NYSE PFG opened at $89.71 on Tuesday. The stock has a market capitalization of $21.03 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 0.92 and a beta of 1.19. The stock’s 50 day moving average price is $81.40 and its two-hundred day moving average price is $81.41. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.29 and a current ratio of 0.29. Principal Financial Group, Inc. has a 52 week low of $66.21 and a 52 week high of $89.96.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.87 by ($0.24). Principal Financial Group had a return on equity of 14.92% and a net margin of 8.05%. The company had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the prior year, the company earned $1.53 EPS. As a group, analysts anticipate that Principal Financial Group, Inc. will post 7.31 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Thursday, September 5th were issued a dividend of $0.72 per share. 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 dividend yield of 3.21%. Principal Financial Group’s payout ratio is presently 54.96%.

Analyst Upgrades and Downgrades

PFG has been the topic of several recent analyst reports. Piper Sandler boosted their target price on Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Bank of America reduced 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 objective on Principal Financial Group from $74.00 to $75.00 and gave the stock an “underweight” rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods reduced their price objective on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating on the stock in a report on Tuesday, July 30th. Finally, Royal Bank of Canada upped their price objective on Principal Financial Group from $83.00 to $87.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $85.42.

Principal Financial Group Company 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.