QS Investors LLC trimmed its position in Principal Financial Group Inc (NYSE:PFG) by 4.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 113,849 shares of the financial services provider’s stock after selling 4,936 shares during the period. QS Investors LLC’s holdings in Principal Financial Group were worth $8,033,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Resources Investment Advisors Inc. increased its stake in shares of Principal Financial Group by 268.6% during the 4th quarter. Resources Investment Advisors Inc. now owns 2,997 shares of the financial services provider’s stock valued at $155,000 after acquiring an additional 2,184 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of Principal Financial Group during the 4th quarter valued at about $174,000. Acadian Asset Management LLC increased its stake in shares of Principal Financial Group by 215.0% during the 4th quarter. Acadian Asset Management LLC now owns 2,611 shares of the financial services provider’s stock valued at $184,000 after acquiring an additional 1,782 shares during the last quarter. Synovus Financial Corp acquired a new position in shares of Principal Financial Group during the 4th quarter valued at about $214,000. Finally, First Heartland Consultants Inc. acquired a new position in shares of Principal Financial Group during the 3rd quarter valued at about $224,000. Institutional investors own 68.64% of the company’s stock.
A number of research analysts have recently commented on the stock. Zacks Investment Research raised shares of Principal Financial Group from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a research note on Friday, January 12th. Wells Fargo & Co downgraded shares of Principal Financial Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 9th. Goldman Sachs Group raised shares of Principal Financial Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 9th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $73.00 target price on shares of Principal Financial Group in a research report on Monday, December 11th. Finally, Morgan Stanley dropped their target price on shares of Principal Financial Group from $80.00 to $79.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $73.10.
Shares of Principal Financial Group Inc (NYSE:PFG) opened at $63.05 on Monday. The stock has a market cap of $18,760.00, a P/E ratio of 10.78, a P/E/G ratio of 1.35 and a beta of 1.60. Principal Financial Group Inc has a 1 year low of $59.25 and a 1 year high of $75.58. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.26.
Principal Financial Group (NYSE:PFG) last posted its earnings results on Monday, January 29th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.37 by ($0.18). The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.32 billion. Principal Financial Group had a return on equity of 13.55% and a net margin of 12.35%. During the same period last year, the company posted $1.27 EPS. analysts expect that Principal Financial Group Inc will post 5.22 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Monday, March 5th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Friday, March 2nd. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.49. Principal Financial Group’s dividend payout ratio is currently 34.87%.
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About Principal Financial Group
Principal Financial Group, Inc is an investment management company. The Company offers a range of financial products and services, including retirement, asset management and insurance. Its segments include Retirement and Income Solutions; Principal Global Investors, Principal International; U.S. Insurance Solutions, and Corporate.
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