Daiwa Securities Group Inc. Has $2.36 Million Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Daiwa Securities Group Inc. lifted its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 1.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 27,523 shares of the company’s stock after buying an additional 457 shares during the period. Daiwa Securities Group Inc.’s holdings in Principal Financial Group were worth $2,364,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Acadian Asset Management LLC boosted its stake in Principal Financial Group by 403.6% in the second quarter. Acadian Asset Management LLC now owns 354,447 shares of the company’s stock valued at $27,800,000 after buying an additional 284,067 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Principal Financial Group in the second quarter valued at about $19,698,000. Swedbank AB acquired a new stake in Principal Financial Group in the first quarter valued at about $13,996,000. Mizuho Securities USA LLC boosted its stake in Principal Financial Group by 818.1% in the third quarter. Mizuho Securities USA LLC now owns 152,648 shares of the company’s stock valued at $13,112,000 after buying an additional 136,021 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in Principal Financial Group by 6,593.7% in the third quarter. International Assets Investment Management LLC now owns 132,200 shares of the company’s stock valued at $11,356,000 after buying an additional 130,225 shares in the last quarter. 75.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PFG has been the subject of several research reports. Wells Fargo & Company increased their target price on Principal Financial Group from $85.00 to $86.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Piper Sandler increased their target price on Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada increased their target price on Principal Financial Group from $87.00 to $91.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 19th. Morgan Stanley dropped their target price on 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. Finally, Bank of America dropped their target price on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a research report on Thursday, October 10th. Two 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, Principal Financial Group currently has a consensus rating of “Hold” and an average price target of $85.92.

Principal Financial Group Trading Up 0.6 %

Shares of PFG stock opened at $87.28 on Friday. The company has a market cap of $19.96 billion, a P/E ratio of -96.98, a PEG ratio of 1.01 and a beta of 1.20. The stock has a 50 day simple moving average of $86.38 and a two-hundred day simple moving average of $82.45. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. Principal Financial Group, Inc. has a fifty-two week low of $71.39 and a fifty-two week high of $91.97.

Principal Financial Group (NYSE:PFG) last issued its earnings results on Thursday, October 24th. The company reported $1.76 earnings per share 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 quarter in the previous year, the firm posted $1.72 earnings per share. Research analysts forecast that Principal Financial Group, Inc. will post 7.04 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm 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 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 3.35%. The ex-dividend date is Monday, December 2nd. Principal Financial Group’s payout ratio is presently -324.44%.

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.