Quantitative Systematic Strategies LLC Sells 15,978 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Quantitative Systematic Strategies LLC trimmed its stake in Principal Financial Group, Inc. (NYSE:PFG) by 70.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,833 shares of the financial services provider’s stock after selling 15,978 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Principal Financial Group were worth $275,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PFG. Holderness Investments Co. increased its position in Principal Financial Group by 2.9% in the 2nd quarter. Holderness Investments Co. now owns 8,489 shares of the financial services provider’s stock worth $353,000 after buying an additional 240 shares during the period. Resources Investment Advisors LLC. increased its position in Principal Financial Group by 3.6% in the 2nd quarter. Resources Investment Advisors LLC. now owns 7,392 shares of the financial services provider’s stock worth $307,000 after buying an additional 254 shares during the period. CWM LLC increased its position in Principal Financial Group by 4.7% in the 3rd quarter. CWM LLC now owns 5,715 shares of the financial services provider’s stock worth $230,000 after buying an additional 256 shares during the period. First Command Bank increased its position in Principal Financial Group by 72.1% in the 3rd quarter. First Command Bank now owns 628 shares of the financial services provider’s stock worth $25,000 after buying an additional 263 shares during the period. Finally, CIBC Asset Management Inc increased its position in Principal Financial Group by 1.4% in the 2nd quarter. CIBC Asset Management Inc now owns 23,077 shares of the financial services provider’s stock worth $959,000 after buying an additional 323 shares during the period. 68.64% of the stock is currently owned by institutional investors and hedge funds.

Shares of PFG stock opened at $49.00 on Friday. The stock’s fifty day simple moving average is $42.68 and its 200 day simple moving average is $41.76. Principal Financial Group, Inc. has a one year low of $23.31 and a one year high of $57.16.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings results on Saturday, October 31st. The financial services provider reported $0.85 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.39 by ($0.54). During the same quarter last year, the business earned $1.23 earnings per share.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Investors of record on Wednesday, December 2nd will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 4.57%. The ex-dividend date is Tuesday, December 1st.

Several research analysts have commented on PFG shares. Credit Suisse Group lifted their price target on Principal Financial Group from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Monday, August 24th. Barclays assumed coverage on Principal Financial Group in a research report on Tuesday. They issued an “overweight” rating and a $53.00 price target on the stock. Royal Bank of Canada restated a “hold” rating and set a $45.00 price objective on shares of Principal Financial Group in a research report on Thursday, July 30th. Morgan Stanley boosted their price objective on Principal Financial Group from $48.00 to $54.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Piper Sandler boosted their price objective on Principal Financial Group from $48.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. Principal Financial Group has an average rating of “Hold” and a consensus target price of $47.25.

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 Global Investors, Principal International, and U.S. Insurance Solutions segments.

See Also: Earnings Per Share (EPS)

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Institutional Ownership by Quarter for Principal Financial Group (NYSE:PFG)

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