KBC Group NV Grows Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

KBC Group NV boosted its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 1.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,464 shares of the company’s stock after acquiring an additional 1,046 shares during the quarter. KBC Group NV’s holdings in Principal Financial Group were worth $5,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of PFG. Acadian Asset Management LLC boosted its stake in shares of Principal Financial Group by 403.6% during the second 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 during the period. Massachusetts Financial Services Co. MA purchased a new stake in Principal Financial Group during the 2nd quarter valued at $19,698,000. Swedbank AB bought a new stake in Principal Financial Group in the 1st quarter worth $13,996,000. Capital Research Global Investors increased its position in shares of Principal Financial Group by 2.4% in the first quarter. Capital Research Global Investors now owns 6,602,298 shares of the company’s stock valued at $569,844,000 after acquiring an additional 152,774 shares during the period. Finally, International Assets Investment Management LLC raised its stake in shares of Principal Financial Group by 6,593.7% during the third quarter. International Assets Investment Management LLC now owns 132,200 shares of the company’s stock valued at $11,356,000 after acquiring an additional 130,225 shares during the last quarter. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Stock Performance

Shares of PFG opened at $86.56 on Monday. Principal Financial Group, Inc. has a 52 week low of $71.37 and a 52 week high of $91.97. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. The stock has a market cap of $19.80 billion, a P/E ratio of -96.18, a P/E/G ratio of 1.00 and a beta of 1.20. The business’s 50 day moving average price is $85.60 and its 200-day moving average price is $82.23.

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

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.73 per share. 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 3.37%. The ex-dividend date of this dividend is Monday, December 2nd. Principal Financial Group’s dividend payout ratio (DPR) is currently -320.00%.

Wall Street Analyst Weigh In

PFG has been the topic of a number of research analyst reports. Morgan Stanley reduced their price target on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Barclays upped their target price on Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Citigroup lifted their price target on shares of Principal Financial Group from $68.00 to $70.00 and gave the company a “sell” rating in a report on Tuesday, July 23rd. Wells Fargo & Company raised 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, Keefe, Bruyette & Woods reduced their price target on shares of Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $85.58.

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.