GAMMA Investing LLC Reduces Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

GAMMA Investing LLC lowered its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 5.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,029 shares of the company’s stock after selling 211 shares during the quarter. GAMMA Investing LLC’s holdings in Principal Financial Group were worth $312,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Strategic Financial Concepts LLC purchased a new stake in shares of Principal Financial Group in the second quarter valued at $32,000. Peterson Financial Group Inc. bought a new position in Principal Financial Group during the 3rd quarter valued at about $33,000. Truvestments Capital LLC purchased a new stake in Principal Financial Group in the 3rd quarter worth about $43,000. Prospera Private Wealth LLC purchased a new stake in Principal Financial Group in the 3rd quarter worth about $45,000. Finally, Capital Performance Advisors LLP bought a new stake in Principal Financial Group in the third quarter worth about $50,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Wall Street Analysts Forecast Growth

PFG has been the topic of several recent analyst reports. Morgan Stanley reiterated an “underweight” rating and issued a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a report on Thursday, December 5th. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $75.00 price objective (down previously from $84.00) on shares of Principal Financial Group in a research report on Wednesday, December 11th. Royal Bank of Canada lifted their target price on Principal Financial Group from $87.00 to $91.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 19th. Barclays upped 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. Finally, Piper Sandler upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 price objective for the company in a report on Wednesday, December 18th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $84.75.

Principal Financial Group Trading Down 0.1 %

NYSE:PFG opened at $77.82 on Tuesday. The firm has a 50-day simple moving average of $82.23 and a 200-day simple moving average of $82.23. Principal Financial Group, Inc. has a one year low of $72.21 and a one year high of $91.97. The firm has a market cap of $17.80 billion, a P/E ratio of -86.47, a P/E/G ratio of 0.92 and a beta of 1.22. 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 (NYSE:PFG) last issued its quarterly earnings data on Thursday, October 24th. The company reported $1.76 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 last year, the firm earned $1.72 EPS. Equities analysts anticipate that Principal Financial Group, Inc. will post 7.03 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were given a dividend of $0.73 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.92 dividend on an annualized basis and a yield of 3.75%. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s dividend payout ratio (DPR) is presently -324.44%.

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.