International Private Wealth Advisors LLC Sells 123 Shares of Principal Financial Group, Inc. (NYSE:PFG)

International Private Wealth Advisors LLC decreased its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 4.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,812 shares of the company’s stock after selling 123 shares during the quarter. International Private Wealth Advisors LLC’s holdings in Principal Financial Group were worth $242,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in PFG. Capital Research Global Investors increased its position in Principal Financial Group by 2.4% in the first quarter. Capital Research Global Investors now owns 6,602,298 shares of the company’s stock worth $569,844,000 after buying an additional 152,774 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Principal Financial Group by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,905,124 shares of the company’s stock worth $306,393,000 after buying an additional 39,854 shares in the last quarter. Bank of New York Mellon Corp raised its position in Principal Financial Group by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 1,903,138 shares of the company’s stock valued at $149,301,000 after purchasing an additional 53,516 shares during the period. AustralianSuper Pty Ltd lifted its holdings in shares of Principal Financial Group by 27.2% in the 3rd quarter. AustralianSuper Pty Ltd now owns 540,212 shares of the company’s stock worth $46,404,000 after acquiring an additional 115,569 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Principal Financial Group by 0.5% during the second quarter. Rhumbline Advisers now owns 478,129 shares of the company’s stock valued at $37,509,000 after buying an additional 2,487 shares during the period. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Trading Up 0.2 %

NYSE:PFG traded up $0.14 during trading hours on Thursday, reaching $86.78. 105,388 shares of the stock were exchanged, compared to its average volume of 1,128,768. Principal Financial Group, Inc. has a twelve month low of $71.37 and a twelve month high of $91.97. The business has a 50-day moving average of $85.29 and a two-hundred day moving average of $82.12. The company has a market capitalization of $19.85 billion, a price-to-earnings ratio of -96.27, a PEG ratio of 1.00 and a beta of 1.20. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35.

Principal Financial Group (NYSE:PFG) last posted its earnings results on Thursday, October 24th. The company reported $1.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.02 by ($0.26). The firm had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.92 billion. Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. During the same period in the previous year, the company posted $1.72 EPS. On average, equities analysts predict that Principal Financial Group, Inc. will post 7.12 EPS for the current year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.73 per share. The ex-dividend date is Monday, December 2nd. This is a positive change 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 3.36%. Principal Financial Group’s dividend payout ratio is -320.00%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Morgan Stanley cut their price target 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. Piper Sandler boosted 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. Citigroup raised their target price on shares of Principal Financial Group from $68.00 to $70.00 and gave the stock a “sell” rating in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods lowered their price objective on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 30th. Finally, Royal Bank of Canada raised their target price on Principal Financial Group from $83.00 to $87.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $85.58.

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.