Daiwa Securities Group Inc. Has $2.36 Million Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Daiwa Securities Group Inc. grew its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 1.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,523 shares of the company’s stock after acquiring an additional 457 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Principal Financial Group were worth $2,364,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Metis Global Partners LLC raised its stake in shares of Principal Financial Group by 5.0% during the 3rd quarter. Metis Global Partners LLC now owns 11,230 shares of the company’s stock worth $965,000 after purchasing an additional 533 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of Principal Financial Group by 108.1% during the 1st quarter. Cetera Investment Advisers now owns 53,579 shares of the company’s stock worth $4,624,000 after purchasing an additional 27,827 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Principal Financial Group by 57.3% during the 2nd quarter. SG Americas Securities LLC now owns 178,635 shares of the company’s stock worth $14,014,000 after purchasing an additional 65,070 shares in the last quarter. Tidal Investments LLC raised its stake in shares of Principal Financial Group by 54.2% during the 1st quarter. Tidal Investments LLC now owns 26,847 shares of the company’s stock worth $2,317,000 after purchasing an additional 9,432 shares in the last quarter. Finally, Intech Investment Management LLC raised its stake in shares of Principal Financial Group by 27.1% during the 2nd quarter. Intech Investment Management LLC now owns 298,562 shares of the company’s stock worth $23,422,000 after purchasing an additional 63,747 shares in the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Analysts Set New Price Targets

PFG has been the topic of a number of analyst reports. Morgan Stanley dropped their price objective 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. Royal Bank of Canada increased their price target on Principal Financial Group from $87.00 to $91.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 19th. Piper Sandler increased 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. Barclays increased their price target on Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Finally, Wells Fargo & Company increased their price target 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. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Principal Financial Group presently has an average rating of “Hold” and a consensus price target of $85.92.

Principal Financial Group Stock Performance

Shares of NYSE PFG opened at $87.28 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. The stock’s fifty day moving average price is $86.38 and its two-hundred day moving average price is $82.45. Principal Financial Group, Inc. has a one year low of $71.39 and a one year high of $91.97. The firm has a market cap of $19.96 billion, a price-to-earnings ratio of -96.98, a P/E/G ratio of 1.01 and a beta of 1.20.

Principal Financial Group (NYSE:PFG) last issued its quarterly earnings data on Thursday, October 24th. The company reported $1.76 EPS for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.26). Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same period in the prior year, the company earned $1.72 earnings per share. On average, equities analysts forecast that Principal Financial Group, Inc. will post 7.04 EPS for the current year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.73 per share. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. This represents a $2.92 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Monday, December 2nd. Principal Financial Group’s dividend payout ratio is -324.44%.

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.