Mutual of America Capital Management LLC Sells 955 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Mutual of America Capital Management LLC trimmed its stake in Principal Financial Group, Inc. (NYSE:PFG) by 3.5% in the third quarter, Holdings Channel reports. The firm owned 26,238 shares of the company’s stock after selling 955 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Principal Financial Group were worth $2,254,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PFG. Farther Finance Advisors LLC increased its holdings in Principal Financial Group by 2.2% during the second quarter. Farther Finance Advisors LLC now owns 6,325 shares of the company’s stock worth $493,000 after buying an additional 135 shares during the last quarter. Ballentine Partners LLC raised its stake in 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 period. Graypoint LLC lifted its holdings in 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 purchasing an additional 140 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its position 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 worth $546,000 after purchasing an additional 142 shares during the period. Finally, Empirical Finance LLC increased its holdings in shares of Principal Financial Group by 1.8% in the third quarter. Empirical Finance LLC now owns 7,875 shares of the company’s stock valued at $676,000 after purchasing an additional 142 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

Principal Financial Group Stock Up 1.2 %

Shares of NYSE PFG opened at $85.73 on Monday. The company has a market cap of $19.61 billion, a price-to-earnings ratio of -95.25, a PEG ratio of 0.99 and a beta of 1.20. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. Principal Financial Group, Inc. has a 12 month low of $71.39 and a 12 month high of $91.97. The stock has a 50-day moving average price of $86.12 and a two-hundred day moving average price of $82.34.

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 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 company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the prior year, the company earned $1.72 earnings per share. As a group, analysts forecast that Principal Financial Group, Inc. will post 7.04 earnings per share 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. Shareholders of record on Monday, December 2nd will be issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s dividend payout ratio is presently -320.00%.

Analyst Upgrades and Downgrades

Several analysts recently commented on PFG shares. Keefe, Bruyette & Woods reduced their target price on shares of Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating for the company in a report on Tuesday, July 30th. Bank of America decreased their target price 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. Morgan Stanley dropped their price target on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Barclays upped their price objective on Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Finally, Wells Fargo & Company lifted their target price on Principal Financial Group from $85.00 to $86.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $85.92.

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.