Tokio Marine Asset Management Co. Ltd. Boosts Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Tokio Marine Asset Management Co. Ltd. raised its stake in Principal Financial Group, Inc. (NYSE:PFG) by 13.1% during the third quarter, Holdings Channel reports. The firm owned 6,910 shares of the company’s stock after purchasing an additional 798 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Principal Financial Group were worth $594,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Cetera Investment Advisers boosted its holdings in Principal Financial Group by 108.1% in the first quarter. Cetera Investment Advisers now owns 53,579 shares of the company’s stock valued at $4,624,000 after acquiring an additional 27,827 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Principal Financial Group by 59.4% during the 1st quarter. Sei Investments Co. now owns 24,275 shares of the company’s stock worth $2,095,000 after purchasing an additional 9,048 shares during the period. SG Americas Securities LLC increased its position in Principal Financial Group by 57.3% during the 2nd quarter. SG Americas Securities LLC now owns 178,635 shares of the company’s stock worth $14,014,000 after purchasing an additional 65,070 shares in the last quarter. Tidal Investments LLC raised its holdings in Principal Financial Group by 54.2% in the first quarter. Tidal Investments LLC now owns 26,847 shares of the company’s stock valued at $2,317,000 after buying an additional 9,432 shares during the period. Finally, Acadian Asset Management LLC lifted its position in Principal Financial Group by 10.0% during the first quarter. Acadian Asset Management LLC now owns 70,380 shares of the company’s stock valued at $6,071,000 after buying an additional 6,375 shares in the last quarter. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Stock Up 0.2 %

NYSE:PFG opened at $86.56 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market capitalization of $19.80 billion, a price-to-earnings ratio of -96.18, a price-to-earnings-growth ratio of 1.00 and a beta of 1.20. Principal Financial Group, Inc. has a one year low of $71.37 and a one year high of $91.97. The stock has a 50-day simple moving average of $85.60 and a 200 day simple moving average of $82.20.

Principal Financial Group (NYSE:PFG) last issued its earnings results on Thursday, October 24th. The company reported $1.76 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.26). The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.92 billion. Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. During the same quarter in the previous year, the business posted $1.72 EPS. Sell-side analysts predict that Principal Financial Group, Inc. will post 7.12 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.73 per share. This is a positive change 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 yield of 3.37%. Principal Financial Group’s payout ratio is presently -320.00%.

Analyst Ratings Changes

Several equities research analysts have issued reports on PFG shares. Bank of America decreased their price objective on shares of Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Barclays raised their price objective on Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Wells Fargo & Company raised their target price on Principal Financial Group from $85.00 to $86.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Morgan Stanley decreased their target price on shares of 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. Finally, Royal Bank of Canada boosted their price objective on shares of Principal Financial Group from $83.00 to $87.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $85.58.

About Principal Financial Group

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.