Principal Financial Group, Inc. $PFG Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. lessened its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 30.1% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,607 shares of the company’s stock after selling 1,555 shares during the quarter. iA Global Asset Management Inc.’s holdings in Principal Financial Group were worth $287,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PFG. Oliver Lagore Vanvalin Investment Group purchased a new position in Principal Financial Group in the 2nd quarter worth approximately $25,000. American National Bank & Trust purchased a new position in Principal Financial Group in the 2nd quarter worth approximately $28,000. Curio Wealth LLC boosted its holdings in 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 acquiring an additional 378 shares during the period. Private Wealth Asset Management LLC boosted its holdings in Principal Financial Group by 163.4% in the 2nd quarter. Private Wealth Asset Management LLC now owns 403 shares of the company’s stock worth $32,000 after acquiring an additional 250 shares during the period. Finally, Zions Bancorporation National Association UT purchased a new position in Principal Financial Group in the 1st quarter worth approximately $34,000. Institutional investors and hedge funds own 75.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PFG. Piper Sandler set a $94.00 price objective on shares of Principal Financial Group and gave the stock an “overweight” rating in a report on Tuesday, October 7th. JPMorgan Chase & Co. boosted their price objective on shares of Principal Financial Group from $92.00 to $101.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. Wells Fargo & Company boosted their price objective on shares of Principal Financial Group from $73.00 to $74.00 and gave the stock an “underweight” rating in a report on Wednesday, October 29th. Barclays boosted their price objective on shares of Principal Financial Group from $80.00 to $83.00 and gave the stock an “underweight” rating in a report on Wednesday, October 8th. Finally, Morgan Stanley upgraded shares of Principal Financial Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $80.00 to $81.00 in a report on Thursday, October 23rd. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $88.90.

Principal Financial Group Stock Performance

Principal Financial Group stock opened at $82.06 on Wednesday. The stock has a market cap of $18.28 billion, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 0.76 and a beta of 1.03. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The stock has a 50 day moving average of $81.32 and a 200-day moving average of $79.20. Principal Financial Group, Inc. has a 52 week low of $68.39 and a 52 week high of $90.31.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data 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 return on equity of 14.68% and a net margin of 9.74%.During the same quarter in the previous year, the firm earned $2.05 EPS. On average, analysts expect that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Wednesday, December 3rd will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 3.9%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.78. The ex-dividend date is Wednesday, December 3rd. Principal Financial Group’s dividend payout ratio (DPR) is 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.