Principal Financial Group, Inc. (NYSE:PFG) Stock Holdings Lessened by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky reduced its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 7.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,334 shares of the company’s stock after selling 1,385 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Principal Financial Group were worth $1,403,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC boosted its stake in shares of Principal Financial Group by 2.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 6,325 shares of the company’s stock valued at $493,000 after buying an additional 135 shares during the period. Ballentine Partners LLC boosted its position in Principal Financial Group by 5.0% during the second quarter. Ballentine Partners LLC now owns 2,906 shares of the company’s stock valued at $228,000 after purchasing an additional 138 shares during the last quarter. Graypoint LLC grew its stake in Principal Financial Group by 5.6% in the second quarter. Graypoint LLC now owns 2,654 shares of the company’s stock valued at $208,000 after purchasing an additional 140 shares in the last quarter. Prime Capital Investment Advisors LLC grew its stake in Principal Financial Group by 2.3% in the third quarter. Prime Capital Investment Advisors LLC now owns 6,358 shares of the company’s stock valued at $546,000 after purchasing an additional 142 shares in the last quarter. Finally, Empirical Finance LLC increased its position in Principal Financial Group by 1.8% in the 3rd quarter. Empirical Finance LLC now owns 7,875 shares of the company’s stock worth $676,000 after purchasing an additional 142 shares during the last quarter. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Trading Down 1.4 %

Principal Financial Group stock opened at $77.54 on Wednesday. Principal Financial Group, Inc. has a 52 week low of $72.21 and a 52 week high of $91.97. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a market capitalization of $17.74 billion, a PE ratio of -86.16, a PEG ratio of 0.92 and a beta of 1.20. The business’s 50-day simple moving average is $85.47 and its 200-day simple moving average is $82.38.

Principal Financial Group (NYSE:PFG) last issued its quarterly 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 the consensus estimate of $3.92 billion. During the same period in the prior year, the firm earned $1.72 earnings per share. Equities research analysts forecast that Principal Financial Group, Inc. will post 7.03 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be issued a $0.73 dividend. The ex-dividend date is Monday, December 2nd. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. This represents a $2.92 dividend on an annualized basis and a yield of 3.77%. Principal Financial Group’s dividend payout ratio is -324.44%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Piper Sandler lifted their price target on Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Royal Bank of Canada boosted their target price on shares of 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. Wells Fargo & Company restated an “underweight” rating and set a $75.00 price target (down previously from $84.00) on shares of Principal Financial Group in a research note on Wednesday, December 11th. Bank of America reduced their price objective on shares of Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Finally, Barclays increased their target price on shares of Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $84.75.

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.