Principal Financial Group, Inc. $PFG Shares Sold by DMKC Advisory Services LLC

DMKC Advisory Services LLC cut its position in Principal Financial Group, Inc. (NASDAQ:PFG) by 15.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,616 shares of the company’s stock after selling 11,231 shares during the quarter. Principal Financial Group comprises 1.7% of DMKC Advisory Services LLC’s investment portfolio, making the stock its 17th biggest position. DMKC Advisory Services LLC’s holdings in Principal Financial Group were worth $6,899,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PFG. Jupiter Topco LLC purchased a new stake in shares of Principal Financial Group in the second quarter worth $2,581,000. BlackRock Inc. bought a new stake in Principal Financial Group during the second quarter valued at $2,157,181,000. Nykredit A S purchased a new position in Principal Financial Group during the second quarter worth about $6,436,000. Bank of America Corp DE purchased a new position in Principal Financial Group during the second quarter worth about $741,960,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Principal Financial Group in the 2nd quarter worth about $47,220,000. 75.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PFG has been the topic of several recent analyst reports. JPMorgan Chase & Co. lowered their price target on Principal Financial Group from $107.00 to $106.00 and set a “neutral” rating on the stock in a report on Thursday, October 15th. Evercore set a $111.00 price objective on Principal Financial Group in a report on Wednesday, October 28th. Bank of America upped their price objective on shares of Principal Financial Group from $94.00 to $104.00 and gave the stock an “underperform” rating in a research report on Tuesday, July 28th. Piper Sandler lowered their target price on shares of Principal Financial Group from $128.00 to $125.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 28th. Finally, Wells Fargo & Company lowered their target price on shares of Principal Financial Group from $112.00 to $109.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 28th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Principal Financial Group presently has an average rating of “Hold” and an average price target of $107.75.

Principal Financial Group Stock Up 4.0%

Shares of NASDAQ:PFG opened at $115.39 on Tuesday. The firm has a market capitalization of $24.51 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 1.34 and a beta of 0.87. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.28 and a current ratio of 0.28. Principal Financial Group, Inc. has a 52-week low of $80.00 and a 52-week high of $121.18. The firm has a fifty day moving average of $112.39 and a 200 day moving average of $104.18.

Principal Financial Group (NASDAQ:PFG) last released its quarterly earnings results on Thursday, October 29th. The company reported $2.22 earnings per share for the quarter, missing analysts’ consensus estimates of $2.46 by ($0.24). Principal Financial Group had a net margin of 11.89% and a return on equity of 16.51%. The firm had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.31 billion. During the same quarter in the previous year, the business earned $2.32 EPS. As a group, research analysts anticipate that Principal Financial Group, Inc. will post 9.18 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Wednesday, December 2nd will be given a dividend of $0.85 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.84. The ex-dividend date is Wednesday, December 2nd. This represents a $3.40 annualized dividend and a dividend yield of 2.9%. Principal Financial Group’s dividend payout ratio is currently 37.33%.

Principal Financial Group Profile

Principal Financial Group, Inc is a financial services company headquartered in Des Moines, Iowa. Founded in 1879 as Bankers Life Association, it later adopted the Principal name and expanded beyond its original insurance business.

The company provides retirement and pension solutions, investment management, life and disability insurance, and employee benefits to businesses, individuals, and institutional clients. Its offerings include workplace retirement plans, group benefits, and investment products and services.

Principal serves customers in the United States and internationally, with operations spanning markets in Latin America and Asia.