Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Gilbert & Cook Inc.

Gilbert & Cook Inc. decreased its position in Principal Financial Group, Inc. (NYSE:PFG) by 4.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,918 shares of the company’s stock after selling 292 shares during the quarter. Gilbert & Cook Inc.’s holdings in Principal Financial Group were worth $594,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Research Global Investors raised 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 valued at $569,844,000 after purchasing an additional 152,774 shares during the period. Dimensional Fund Advisors LP raised its position in Principal Financial Group by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,905,124 shares of the company’s stock valued at $306,393,000 after purchasing an additional 39,854 shares during the period. Bank of New York Mellon Corp raised its position in Principal Financial Group by 2.9% in 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 raised its position in Principal Financial Group by 27.2% in the third quarter. AustralianSuper Pty Ltd now owns 540,212 shares of the company’s stock valued at $46,404,000 after purchasing an additional 115,569 shares during the period. Finally, Rhumbline Advisers raised its position in Principal Financial Group by 0.5% in the second quarter. Rhumbline Advisers now owns 478,129 shares of the company’s stock valued at $37,509,000 after purchasing an additional 2,487 shares during the period. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

NYSE:PFG opened at $86.56 on Friday. The firm has a market capitalization of $19.80 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 1.00 and a beta of 1.20. The business’s fifty day moving average price is $85.60 and its 200 day moving average price is $82.22. 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 12 month low of $71.37 and a 12 month high of $91.97.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings data 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). 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 analyst estimates of $3.92 billion. During the same quarter in the prior year, the company earned $1.72 EPS. On average, sell-side analysts anticipate that Principal Financial Group, Inc. will post 7.09 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be paid a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 3.37%. The ex-dividend date is Monday, December 2nd. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s dividend payout ratio is currently -320.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PFG. Citigroup boosted their target price on Principal Financial Group from $68.00 to $70.00 and gave the company a “sell” rating in a research report on Tuesday, July 23rd. Wells Fargo & Company upped their price objective on Principal Financial Group from $85.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Bank of America cut their price objective on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Royal Bank of Canada upped their price objective on Principal Financial Group from $83.00 to $87.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Finally, Piper Sandler upped their price objective on Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. 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.com, the company presently has an average rating of “Hold” and an average price target of $85.58.

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.