Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lowered its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 14.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,147 shares of the company’s stock after selling 1,584 shares during the period. Oppenheimer & Co. Inc.’s holdings in Principal Financial Group were worth $786,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Acadian Asset Management LLC increased its holdings in Principal Financial Group by 403.6% in the 2nd quarter. Acadian Asset Management LLC now owns 354,447 shares of the company’s stock valued at $27,800,000 after purchasing an additional 284,067 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of Principal Financial Group in the second quarter worth about $19,698,000. Swedbank AB acquired a new stake in shares of Principal Financial Group in the first quarter valued at about $13,996,000. Capital Research Global Investors raised its holdings in shares of Principal Financial Group by 2.4% during the 1st quarter. Capital Research Global Investors now owns 6,602,298 shares of the company’s stock valued at $569,844,000 after buying an additional 152,774 shares during the period. Finally, International Assets Investment Management LLC lifted its position in Principal Financial Group by 6,593.7% during the 3rd quarter. International Assets Investment Management LLC now owns 132,200 shares of the company’s stock worth $11,356,000 after acquiring an additional 130,225 shares in the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Down 2.2 %

Shares of NYSE:PFG opened at $84.18 on Wednesday. Principal Financial Group, Inc. has a 1-year low of $71.39 and a 1-year high of $91.97. The company’s fifty day moving average is $85.84 and its two-hundred day moving average is $82.30. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a market capitalization of $19.25 billion, a price-to-earnings ratio of -93.53, a price-to-earnings-growth ratio of 1.00 and a beta of 1.20.

Principal Financial Group (NYSE:PFG) last issued its earnings results on Thursday, October 24th. The company reported $1.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.26). The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate 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 prior year, the business earned $1.72 EPS. Equities analysts anticipate that Principal Financial Group, Inc. will post 7.09 EPS for the current year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be paid a dividend of $0.73 per share. This is an increase 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 3.47%. The ex-dividend date of this dividend is Monday, December 2nd. Principal Financial Group’s dividend payout ratio is presently -320.00%.

Analyst Ratings Changes

PFG has been the subject of several recent research reports. Morgan Stanley lowered their price objective on shares of Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Wells Fargo & Company lifted their price target on shares of Principal Financial Group from $85.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Royal Bank of Canada boosted their price objective on shares of Principal Financial Group from $87.00 to $91.00 and gave the stock a “sector perform” rating in a report on Tuesday. Barclays raised their target price on Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Finally, Piper Sandler boosted their price target 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. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $85.92.

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.