Principal Financial Group, Inc. (NYSE:PFG) Position Cut by Qsemble Capital Management LP

Qsemble Capital Management LP trimmed its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 43.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,620 shares of the company’s stock after selling 2,746 shares during the quarter. Qsemble Capital Management LP’s holdings in Principal Financial Group were worth $311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank of Montreal Can lifted its position in Principal Financial Group by 41.0% in the third quarter. Bank of Montreal Can now owns 503,735 shares of the company’s stock worth $43,367,000 after purchasing an additional 146,473 shares during the period. Truvestments Capital LLC acquired a new stake in Principal Financial Group in the third quarter worth approximately $43,000. Brown Brothers Harriman & Co. lifted its position in Principal Financial Group by 7.8% in the third quarter. Brown Brothers Harriman & Co. now owns 3,006 shares of the company’s stock worth $258,000 after purchasing an additional 218 shares during the period. Daiwa Securities Group Inc. lifted its position in Principal Financial Group by 1.7% in the third quarter. Daiwa Securities Group Inc. now owns 27,523 shares of the company’s stock worth $2,364,000 after purchasing an additional 457 shares during the period. Finally, Larson Financial Group LLC lifted its position in Principal Financial Group by 132.8% in the third quarter. Larson Financial Group LLC now owns 675 shares of the company’s stock worth $58,000 after purchasing an additional 385 shares during the period. 75.08% of the stock is owned by institutional investors.

Principal Financial Group Stock Up 0.6 %

PFG stock opened at $87.28 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. Principal Financial Group, Inc. has a 52-week low of $71.39 and a 52-week high of $91.97. The company has a 50-day moving average of $86.35 and a two-hundred day moving average of $82.42. The stock has a market capitalization of $19.96 billion, a price-to-earnings ratio of -96.98, a price-to-earnings-growth ratio of 1.01 and a beta of 1.20.

Principal Financial Group (NYSE:PFG) last released its earnings results on Thursday, October 24th. The company reported $1.76 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the previous year, the business posted $1.72 EPS. As a group, equities research analysts anticipate 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. 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 3.35%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s dividend payout ratio (DPR) is presently -324.44%.

Analyst Ratings Changes

PFG has been the subject of a number of research analyst reports. Royal Bank of Canada upped their target price on Principal Financial Group from $87.00 to $91.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 19th. Bank of America cut their target price on 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. Barclays increased their price objective on Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Piper Sandler increased their price objective on Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Morgan Stanley cut their price objective on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Principal Financial Group presently has an average rating of “Hold” and a consensus price target of $85.92.

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.