Amalgamated Bank Sells 18,265 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Amalgamated Bank cut its position in Principal Financial Group, Inc. (NYSE:PFG) by 29.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 42,898 shares of the company’s stock after selling 18,265 shares during the quarter. Amalgamated Bank’s holdings in Principal Financial Group were worth $3,685,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System lifted its holdings in shares of Principal Financial Group by 6.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 296,889 shares of the company’s stock worth $25,624,000 after buying an additional 18,368 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Principal Financial Group by 108.1% in the 1st quarter. Cetera Investment Advisers now owns 53,579 shares of the company’s stock valued at $4,624,000 after purchasing an additional 27,827 shares during the period. Sei Investments Co. grew its position in Principal Financial Group by 59.4% in the 1st quarter. Sei Investments Co. now owns 24,275 shares of the company’s stock worth $2,095,000 after purchasing an additional 9,048 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Principal Financial Group during the 1st quarter worth about $1,097,000. Finally, SG Americas Securities LLC raised its position in shares of Principal Financial Group by 57.3% during the second quarter. SG Americas Securities LLC now owns 178,635 shares of the company’s stock valued at $14,014,000 after buying an additional 65,070 shares during the last quarter. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Price Performance

NYSE:PFG opened at $85.45 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. The firm has a market cap of $19.54 billion, a PE ratio of -94.94, a price-to-earnings-growth ratio of 0.99 and a beta of 1.20. Principal Financial Group, Inc. has a 12 month low of $68.69 and a 12 month high of $91.97. The company’s 50-day moving average price is $84.95 and its two-hundred day moving average price is $81.99.

Principal Financial Group (NYSE:PFG) last announced its earnings results on Thursday, October 24th. The company reported $1.76 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.26). Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. The business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the firm earned $1.72 earnings per share. On average, equities analysts anticipate that Principal Financial Group, Inc. will post 7.12 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be paid a $0.73 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.42%. Principal Financial Group’s dividend payout ratio (DPR) is -320.00%.

Analyst Ratings Changes

Several brokerages recently issued reports on PFG. Piper Sandler boosted their price target on Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Bank of America lowered their price objective 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. Jefferies Financial Group raised their target price on Principal Financial Group from $73.00 to $76.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Royal Bank of Canada boosted their price target on shares of Principal Financial Group from $83.00 to $87.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. Finally, Morgan Stanley reduced their price objective on shares of Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $85.58.

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.