Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Commerce Bank

Commerce Bank lowered its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 3.4% during the 3rd quarter, Holdings Channel reports. The fund owned 22,862 shares of the company’s stock after selling 813 shares during the period. Commerce Bank’s holdings in Principal Financial Group were worth $1,964,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in PFG. EdgeRock Capital LLC bought a new stake in shares of Principal Financial Group during the second quarter valued at about $26,000. Strategic Financial Concepts LLC acquired a new stake in shares of Principal Financial Group in the 2nd quarter worth approximately $32,000. Family Firm Inc. bought a new position in shares of Principal Financial Group in the second quarter valued at approximately $33,000. Peterson Financial Group Inc. acquired a new position in shares of Principal Financial Group during the third quarter valued at approximately $33,000. Finally, Innealta Capital LLC bought a new stake in Principal Financial Group during the second quarter worth approximately $43,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PFG shares. Wells Fargo & Company lifted their price target 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. 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 report on Tuesday, November 19th. Piper Sandler upped their price target on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Morgan Stanley lowered their price objective on shares of Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Finally, Keefe, Bruyette & Woods cut 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 research note on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Principal Financial Group currently has an average rating of “Hold” and an average target price of $85.92.

Principal Financial Group Trading Up 1.2 %

NYSE PFG opened at $85.73 on Friday. The firm’s 50 day moving average price is $86.12 and its two-hundred day moving average price is $82.35. 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 twelve month low of $71.39 and a twelve month high of $91.97. The stock 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.

Principal Financial Group (NYSE:PFG) last issued its quarterly 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 for the quarter, compared to analysts’ expectations of $3.92 billion. Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. During the same quarter in the prior year, the firm posted $1.72 EPS. Equities analysts anticipate that Principal Financial Group, Inc. will post 7.04 EPS for the current year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Monday, December 2nd will be given a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 3.41%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, December 2nd. Principal Financial Group’s dividend payout ratio is -320.00%.

Principal Financial Group Company 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.