Assenagon Asset Management S.A. Sells 73,389 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Assenagon Asset Management S.A. decreased its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 90.8% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,477 shares of the company’s stock after selling 73,389 shares during the period. Assenagon Asset Management S.A.’s holdings in Principal Financial Group were worth $642,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in PFG. Acadian Asset Management LLC boosted its stake in shares of Principal Financial Group by 403.6% in the 2nd quarter. Acadian Asset Management LLC now owns 354,447 shares of the company’s stock valued at $27,800,000 after purchasing an additional 284,067 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of Principal Financial Group in the 2nd quarter valued at $19,698,000. BNP Paribas Financial Markets boosted its stake in shares of Principal Financial Group by 165.2% in the 1st quarter. BNP Paribas Financial Markets now owns 337,877 shares of the company’s stock valued at $29,162,000 after purchasing an additional 210,476 shares in the last quarter. Intech Investment Management LLC boosted its stake in shares of Principal Financial Group by 586.1% in the 1st quarter. Intech Investment Management LLC now owns 234,815 shares of the company’s stock valued at $20,267,000 after purchasing an additional 200,588 shares in the last quarter. Finally, Swedbank AB purchased a new stake in shares of Principal Financial Group in the 1st quarter valued at $13,996,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Trading Down 0.3 %

NYSE:PFG opened at $82.18 on Friday. The company has a 50-day moving average price of $84.54 and a 200-day moving average price of $81.85. Principal Financial Group, Inc. has a 12 month low of $67.79 and a 12 month high of $91.97. The company has a current ratio of 0.30, a quick ratio of 0.29 and a debt-to-equity ratio of 0.35. The stock has a market cap of $18.80 billion, a price-to-earnings ratio of -91.31, a P/E/G ratio of 0.95 and a beta of 1.20.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings results 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). The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.92 billion. Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. During the same quarter in the previous year, the business earned $1.72 earnings per share. Equities analysts predict that Principal Financial Group, Inc. will post 7.12 EPS for the current year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be paid a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 3.55%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, December 2nd. Principal Financial Group’s dividend payout ratio (DPR) is presently -320.00%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group upped their price objective on shares of Principal Financial Group from $73.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, July 18th. Piper Sandler increased their price target on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company increased their price target on shares of Principal Financial Group from $85.00 to $86.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Bank of America dropped their price target 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. Finally, Citigroup increased their price target on shares of Principal Financial Group from $68.00 to $70.00 and gave the company a “sell” rating in a research report on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Principal Financial Group presently has a consensus rating of “Hold” and an average price target of $85.58.

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.