Freestone Capital Holdings LLC Cuts Stock Holdings in Principal Financial Group, Inc. $PFG

Freestone Capital Holdings LLC lessened its stake in Principal Financial Group, Inc. (NYSE:PFG) by 4.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,258 shares of the company’s stock after selling 1,632 shares during the quarter. Freestone Capital Holdings LLC’s holdings in Principal Financial Group were worth $2,721,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Oliver Lagore Vanvalin Investment Group acquired a new position in Principal Financial Group in the second quarter valued at $25,000. American National Bank & Trust acquired a new stake in Principal Financial Group during the second quarter worth about $28,000. Curio Wealth LLC raised its holdings in shares of Principal Financial Group by 37,800.0% in the 2nd quarter. Curio Wealth LLC now owns 379 shares of the company’s stock worth $30,000 after purchasing an additional 378 shares during the period. Private Wealth Asset Management LLC lifted its stake in shares of Principal Financial Group by 163.4% in the 2nd quarter. Private Wealth Asset Management LLC now owns 403 shares of the company’s stock valued at $32,000 after purchasing an additional 250 shares in the last quarter. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of Principal Financial Group during the 1st quarter worth about $34,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PFG shares. Keefe, Bruyette & Woods lifted their price target on shares of Principal Financial Group from $90.00 to $91.00 and gave the company a “market perform” rating in a research report on Thursday, October 30th. UBS Group raised their target price on shares of Principal Financial Group from $85.00 to $87.00 and gave the company a “neutral” rating in a research note on Tuesday, July 29th. JPMorgan Chase & Co. upped their price target on shares of Principal Financial Group from $92.00 to $101.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Wells Fargo & Company increased their price target on Principal Financial Group from $73.00 to $74.00 and gave the company an “underweight” rating in a report on Wednesday, October 29th. Finally, Piper Sandler set a $94.00 price objective on Principal Financial Group and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Principal Financial Group currently has a consensus rating of “Hold” and a consensus price target of $88.90.

Principal Financial Group Price Performance

Shares of PFG stock opened at $83.02 on Tuesday. The firm has a fifty day simple moving average of $81.29 and a 200-day simple moving average of $79.13. The company has a market capitalization of $18.49 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 0.76 and a beta of 1.03. Principal Financial Group, Inc. has a twelve month low of $68.39 and a twelve month high of $90.31. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Monday, October 27th. The company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.12. Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same quarter in the prior year, the business posted $2.05 EPS. Equities research analysts anticipate that Principal Financial Group, Inc. will post 8.5 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Wednesday, December 3rd will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 3.8%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.78. The ex-dividend date is Wednesday, December 3rd. Principal Financial Group’s payout ratio is presently 46.00%.

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.