Kentucky Retirement Systems Insurance Trust Fund Trims Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Kentucky Retirement Systems Insurance Trust Fund lessened its stake in Principal Financial Group, Inc. (NYSE:PFG) by 9.3% in the third quarter, Holdings Channel reports. The institutional investor owned 6,308 shares of the company’s stock after selling 647 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Principal Financial Group were worth $542,000 as of its most recent SEC filing.

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

Principal Financial Group Price Performance

Shares of NYSE:PFG opened at $86.07 on Tuesday. The stock has a market cap of $19.69 billion, a price-to-earnings ratio of -95.63, a PEG ratio of 1.00 and a beta of 1.20. 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 $71.39 and a 12 month high of $91.97. The stock’s 50 day moving average price is $85.74 and its 200 day moving average price is $82.27.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Thursday, October 24th. The company reported $1.76 EPS for the quarter, missing analysts’ consensus estimates 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 firm 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 posted $1.72 EPS. Equities research 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 firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.73 per share. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, December 2nd. This represents a $2.92 annualized dividend and a dividend yield of 3.39%. Principal Financial Group’s dividend payout ratio (DPR) is -324.44%.

Analyst Ratings Changes

Several research firms have recently commented on PFG. Wells Fargo & Company lifted their price target on shares of Principal Financial Group from $85.00 to $86.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Barclays upped their target price on Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Citigroup raised their price target on Principal Financial Group from $68.00 to $70.00 and gave the stock a “sell” rating in a report on Tuesday, July 23rd. Bank of America lowered their price objective on 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, Morgan Stanley cut their target price 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. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company 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.