Vinva Investment Management Ltd Decreases Position in Principal Financial Group, Inc. (NYSE:PFG)

Vinva Investment Management Ltd trimmed its stake in Principal Financial Group, Inc. (NYSE:PFG) by 4.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,554 shares of the company’s stock after selling 365 shares during the period. Vinva Investment Management Ltd’s holdings in Principal Financial Group were worth $650,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EdgeRock Capital LLC bought a new position in Principal Financial Group during the second quarter valued at $26,000. Peterson Financial Group Inc. bought a new position in shares of Principal Financial Group during the third quarter valued at approximately $33,000. Family Firm Inc. bought a new stake in shares of Principal Financial Group during the 2nd quarter worth approximately $33,000. Truvestments Capital LLC bought a new stake in shares of Principal Financial Group during the 3rd quarter worth approximately $43,000. Finally, Prospera Private Wealth LLC purchased a new position in Principal Financial Group during the 3rd quarter valued at $45,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Price Performance

Shares of PFG stock opened at $87.09 on Friday. The stock’s 50-day moving average is $86.41 and its 200 day moving average is $82.46. Principal Financial Group, Inc. has a 1-year low of $72.21 and a 1-year high of $91.97. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30. The company has a market cap of $19.92 billion, a P/E ratio of -96.77, a PEG ratio of 1.02 and a beta of 1.20.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Thursday, October 24th. The company reported $1.76 earnings per share for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.26). The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.92 billion. Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. During the same quarter in the prior year, the business posted $1.72 earnings per share. Research analysts predict that Principal Financial Group, Inc. will post 7.04 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be issued a $0.73 dividend. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.72. This represents a $2.92 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Monday, December 2nd. Principal Financial Group’s payout ratio is currently -320.00%.

Analysts Set New Price Targets

Several research firms have recently weighed in on PFG. Wells Fargo & Company lifted their target price on Principal Financial Group from $85.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Barclays lifted their price objective on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Bank of America dropped their target price on shares of Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Piper Sandler lifted their price target on shares of Principal Financial Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada increased their price objective on Principal Financial Group from $87.00 to $91.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $85.92.

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.