Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. reduced its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 1.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 76,227 shares of the company’s stock after selling 1,140 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Principal Financial Group were worth $6,548,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Prospera Private Wealth LLC purchased a new position in Principal Financial Group in the third quarter valued at approximately $45,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Principal Financial Group in the 3rd quarter valued at $2,441,000. S&CO Inc. acquired a new stake in Principal Financial Group during the 3rd quarter worth $214,000. Peterson Financial Group Inc. purchased a new stake in Principal Financial Group in the third quarter valued at $33,000. Finally, GoalVest Advisory LLC grew its holdings in shares of Principal Financial Group by 5.6% during the third quarter. GoalVest Advisory LLC now owns 18,024 shares of the company’s stock worth $1,548,000 after purchasing an additional 960 shares during the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Performance

NYSE PFG opened at $85.73 on Monday. The stock has a market capitalization 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 business’s 50 day moving average is $86.12 and its two-hundred day moving average is $82.34. Principal Financial Group, Inc. has a 12-month low of $71.39 and a 12-month high of $91.97. 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 (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 the consensus estimate 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 business had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the previous year, the company posted $1.72 EPS. Research analysts expect that Principal Financial Group, Inc. will post 7.04 EPS for the current year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be paid a $0.73 dividend. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, December 2nd. This represents a $2.92 annualized dividend and a dividend yield of 3.41%. Principal Financial Group’s dividend payout ratio (DPR) is -320.00%.

Analyst Ratings Changes

A number of research firms recently issued reports on PFG. Barclays raised their price target on Principal Financial Group from $75.00 to $77.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Bank of America reduced their price target on shares of 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. Wells Fargo & Company lifted their price objective on shares of Principal Financial Group from $85.00 to $86.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Piper Sandler raised their price target on Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley reduced their price objective on Principal Financial Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a strong buy rating to the stock. According to MarketBeat, Principal Financial Group has a consensus rating of “Hold” and a consensus price target of $85.92.

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.