Sumitomo Mitsui Trust Group Inc. Has $44.91 Million Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 8.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 522,860 shares of the company’s stock after selling 48,628 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of Principal Financial Group worth $44,914,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC increased its holdings in shares of Principal Financial Group by 403.6% during the second quarter. Acadian Asset Management LLC now owns 354,447 shares of the company’s stock worth $27,800,000 after buying an additional 284,067 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Principal Financial Group during the 2nd quarter valued at $19,698,000. Swedbank AB bought a new position in Principal Financial Group in the 1st quarter valued at $13,996,000. Capital Research Global Investors boosted its stake in Principal Financial Group by 2.4% in the first quarter. Capital Research Global Investors now owns 6,602,298 shares of the company’s stock worth $569,844,000 after purchasing an additional 152,774 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of Principal Financial Group by 6,593.7% in the third quarter. International Assets Investment Management LLC now owns 132,200 shares of the company’s stock valued at $11,356,000 after buying an additional 130,225 shares in the last quarter. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Price Performance

Shares of PFG opened at $86.56 on Friday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. The stock has a market cap of $19.80 billion, a P/E ratio of -96.20, a price-to-earnings-growth ratio of 1.00 and a beta of 1.20. The stock’s 50-day moving average price is $85.42 and its two-hundred day moving average price is $82.15. Principal Financial Group, Inc. has a 1 year low of $71.37 and a 1 year high of $91.97.

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

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be paid a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s dividend payout ratio (DPR) is presently -320.00%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PFG shares. Citigroup upped their price target on shares of Principal Financial Group from $68.00 to $70.00 and gave the stock a “sell” rating in a research report on Tuesday, July 23rd. Bank of America lowered 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 report on Thursday, October 10th. 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. Wells Fargo & Company lifted their target price on Principal Financial Group from $85.00 to $86.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Finally, Morgan Stanley cut their price target on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.