JPMorgan Chase & Co. Trims Holdings in Principal Financial Group, Inc. $PFG

JPMorgan Chase & Co. trimmed its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 4.5% in the 3rd quarter, Holdings Channel reports. The fund owned 977,625 shares of the company’s stock after selling 46,225 shares during the quarter. JPMorgan Chase & Co.’s holdings in Principal Financial Group were worth $81,058,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Principal Financial Group by 0.4% in the second quarter. Vanguard Group Inc. now owns 27,345,064 shares of the company’s stock worth $2,172,018,000 after purchasing an additional 97,149 shares during the period. Bank of America Corp DE lifted its holdings in shares of Principal Financial Group by 9.6% during the second quarter. Bank of America Corp DE now owns 12,370,852 shares of the company’s stock valued at $982,617,000 after purchasing an additional 1,083,991 shares during the last quarter. Norges Bank bought a new stake in shares of Principal Financial Group in the 2nd quarter worth approximately $227,098,000. Invesco Ltd. grew its stake in shares of Principal Financial Group by 5.4% in the 2nd quarter. Invesco Ltd. now owns 2,740,463 shares of the company’s stock worth $217,675,000 after buying an additional 139,953 shares during the last quarter. Finally, Amundi increased its position in Principal Financial Group by 57.6% during the 2nd quarter. Amundi now owns 1,791,246 shares of the company’s stock valued at $144,213,000 after buying an additional 654,408 shares in the last quarter. Institutional investors own 75.08% of the company’s stock.

Insiders Place Their Bets

In other Principal Financial Group news, CEO Deanna D. Strable-Soethout sold 9,300 shares of the stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $95.12, for a total value of $884,616.00. Following the transaction, the chief executive officer owned 144,168 shares of the company’s stock, valued at approximately $13,713,260.16. This represents a 6.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 24,965 shares of company stock valued at $2,352,460 over the last 90 days. 1.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Wells Fargo & Company boosted their target price on Principal Financial Group from $74.00 to $85.00 and gave the stock an “underweight” rating in a report on Tuesday, January 13th. Piper Sandler lifted their price target on Principal Financial Group from $94.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 23rd. Morgan Stanley set a $93.00 price objective on shares of Principal Financial Group in a research report on Monday, December 15th. Keefe, Bruyette & Woods raised their price objective on shares of Principal Financial Group from $90.00 to $91.00 and gave the company a “market perform” rating in a research note on Thursday, October 30th. Finally, Barclays reiterated an “underweight” rating and issued a $85.00 target price on shares of Principal Financial Group in a research note on Thursday, January 8th. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $93.22.

Principal Financial Group Stock Down 3.2%

Shares of Principal Financial Group stock opened at $92.69 on Tuesday. Principal Financial Group, Inc. has a twelve month low of $68.39 and a twelve month high of $97.88. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The company’s 50 day moving average is $91.46 and its 200 day moving average is $85.42. The company has a market cap of $20.10 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 0.76 and a beta of 0.89.

Principal Financial Group (NYSE:PFG) last posted its earnings results on Monday, February 9th. The company reported $2.19 EPS for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.03). Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%.During the same quarter in the prior year, the company posted $1.94 earnings per share. Principal Financial Group has set its FY 2026 guidance at 9.010-9.260 EPS. Research analysts anticipate that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Wednesday, March 11th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.5%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.79. The ex-dividend date is Wednesday, March 11th. Principal Financial Group’s dividend payout ratio (DPR) is currently 60.72%.

Principal Financial Group Company Profile

Principal Financial Group, commonly known as Principal, is a global financial services company headquartered in Des Moines, Iowa. The firm provides a broad range of retirement, investment management and insurance solutions for individual, employer and institutional clients. Its core businesses include retirement plan services and recordkeeping, asset management, and life and disability insurance, supported by distribution through employers, financial advisors and direct channels.

On the retirement side, Principal offers 401(k) and other workplace retirement plans, individual retirement accounts and annuity products designed to help clients accumulate and manage retirement savings.