Principal Financial Group, Inc. (NYSE:PFG) Holdings Trimmed by ProShare Advisors LLC

ProShare Advisors LLC cut its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 6.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,475 shares of the company’s stock after selling 2,805 shares during the quarter. ProShare Advisors LLC’s holdings in Principal Financial Group were worth $3,666,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PFG. Spire Wealth Management raised its holdings in shares of Principal Financial Group by 152.0% in the 4th quarter. Spire Wealth Management now owns 373 shares of the company’s stock worth $29,000 after purchasing an additional 225 shares in the last quarter. EdgeRock Capital LLC acquired a new position in Principal Financial Group in the fourth quarter worth approximately $31,000. Newbridge Financial Services Group Inc. bought a new position in shares of Principal Financial Group in the fourth quarter valued at $33,000. Riverview Trust Co acquired a new stake in shares of Principal Financial Group during the 1st quarter valued at $34,000. Finally, PrairieView Partners LLC acquired a new stake in shares of Principal Financial Group during the 4th quarter valued at $39,000. 75.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PFG has been the topic of a number of recent analyst reports. Morgan Stanley boosted their target price on Principal Financial Group from $81.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Bank of America upped their price objective on shares of Principal Financial Group from $87.00 to $94.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. JPMorgan Chase & Co. raised shares of Principal Financial Group from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $88.00 to $96.00 in a research report on Tuesday, July 2nd. Keefe, Bruyette & Woods upped their price target on shares of Principal Financial Group from $85.00 to $89.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Finally, Piper Sandler lifted their price objective on shares of Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Principal Financial Group has an average rating of “Hold” and an average price target of $84.75.

Principal Financial Group Trading Down 2.4 %

NYSE PFG opened at $85.34 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.35. Principal Financial Group, Inc. has a 1-year low of $66.21 and a 1-year high of $88.26. The firm’s fifty day simple moving average is $81.16 and its 200-day simple moving average is $80.87. The company has a market capitalization of $20.00 billion, a PE ratio of 16.29, a price-to-earnings-growth ratio of 0.97 and a beta of 1.21.

Principal Financial Group (NYSE:PFG) last issued its earnings results on Thursday, April 25th. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.09). The firm had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.68 billion. Principal Financial Group had a return on equity of 15.06% and a net margin of 8.70%. During the same period in the previous year, the company earned $1.48 earnings per share. As a group, sell-side analysts anticipate that Principal Financial Group, Inc. will post 7.43 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 Thursday, June 27th. Shareholders of record on Monday, June 3rd were paid a $0.71 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.69. This represents a $2.84 dividend on an annualized basis and a yield of 3.33%. Principal Financial Group’s payout ratio is 54.20%.

Principal Financial Group 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.