Principal Financial Group, Inc. (NYSE:PFG) Stock Holdings Lessened by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC cut its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 86.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,490 shares of the company’s stock after selling 21,649 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Principal Financial Group were worth $300,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PFG. EdgeRock Capital LLC purchased a new stake in shares of Principal Financial Group in the 2nd quarter valued at approximately $26,000. Strategic Financial Concepts LLC purchased a new stake in shares of Principal Financial Group in the second quarter valued at $32,000. Family Firm Inc. purchased a new stake in shares of Principal Financial Group in the second quarter valued at $33,000. Peterson Financial Group Inc. acquired a new stake in shares of Principal Financial Group in the third quarter worth $33,000. Finally, Innealta Capital LLC purchased a new position in shares of Principal Financial Group during the second quarter valued at $43,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PFG shares. Piper Sandler increased their price objective on Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Barclays raised their price target on shares of Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Morgan Stanley lowered their price objective on shares of Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Wells Fargo & Company increased their target price on shares of 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. Finally, Royal Bank of Canada boosted their price target on shares of Principal Financial Group from $87.00 to $91.00 and gave the company a “sector perform” rating in a report on Tuesday, November 19th. Two investment 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 company’s stock. Based on data from MarketBeat.com, Principal Financial Group presently has a consensus rating of “Hold” and an average price target of $85.92.

Principal Financial Group Price Performance

Shares of NYSE:PFG opened at $87.09 on Friday. The stock has a market capitalization of $19.92 billion, a P/E ratio of -96.77, a P/E/G ratio of 1.02 and a beta of 1.20. The business has a 50-day moving average of $86.41 and a two-hundred day moving average of $82.48. Principal Financial Group, Inc. has a fifty-two week low of $72.21 and a fifty-two week high of $91.97. 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 (NYSE:PFG) last posted its earnings results on Thursday, October 24th. The company reported $1.76 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same quarter last year, the firm posted $1.72 earnings per share. On average, equities research analysts predict that Principal Financial Group, Inc. will post 7.04 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be paid a $0.73 dividend. The ex-dividend date of this dividend 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 3.35%. Principal Financial Group’s dividend payout ratio (DPR) is presently -320.00%.

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.