Principal Financial Group, Inc. (NYSE:PFG) Stock Holdings Lowered by Tidal Investments LLC

Tidal Investments LLC cut its position in Principal Financial Group, Inc. (NYSE:PFG) by 2.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,799 shares of the company’s stock after selling 417 shares during the quarter. Tidal Investments LLC’s holdings in Principal Financial Group were worth $1,357,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PFG. Metis Global Partners LLC raised its holdings in shares of Principal Financial Group by 5.0% during the third quarter. Metis Global Partners LLC now owns 11,230 shares of the company’s stock valued at $965,000 after buying an additional 533 shares during the last quarter. Intech Investment Management LLC increased its holdings in shares of Principal Financial Group by 27.1% during the second quarter. Intech Investment Management LLC now owns 298,562 shares of the company’s stock valued at $23,422,000 after purchasing an additional 63,747 shares during the period. Empowered Funds LLC raised its stake in shares of Principal Financial Group by 358.7% during the third quarter. Empowered Funds LLC now owns 16,328 shares of the company’s stock valued at $1,403,000 after purchasing an additional 12,768 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Principal Financial Group by 3.0% in the third quarter. Principal Financial Group Inc. now owns 231,277 shares of the company’s stock worth $19,867,000 after purchasing an additional 6,817 shares during the period. Finally, Frank Rimerman Advisors LLC acquired a new position in Principal Financial Group during the 3rd quarter valued at about $769,000. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Stock Performance

Shares of Principal Financial Group stock opened at $74.91 on Thursday. 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 stock has a market capitalization of $17.13 billion, a price-to-earnings ratio of -83.23, a PEG ratio of 0.92 and a beta of 1.20. The firm has a fifty day moving average of $85.22 and a two-hundred day moving average of $82.33. Principal Financial Group, Inc. has a 52 week low of $72.21 and a 52 week high of $91.97.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Thursday, October 24th. The company reported $1.76 EPS for the quarter, missing the consensus estimate of $2.02 by ($0.26). Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the prior year, the firm posted $1.72 earnings per share. As a group, equities research analysts predict that Principal Financial Group, Inc. will post 7.03 EPS for the current year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd were given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 3.90%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.72. The ex-dividend date was Monday, December 2nd. Principal Financial Group’s payout ratio is -324.44%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PFG shares. Morgan Stanley reaffirmed an “underweight” rating and issued a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Royal Bank of Canada upped their price objective on Principal Financial Group from $87.00 to $91.00 and gave the company a “sector perform” rating in a report on Tuesday, November 19th. Piper Sandler upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 price target on the stock in a research report on Wednesday. Bank of America reduced 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 report on Thursday, October 10th. Finally, Wells Fargo & Company reaffirmed an “underweight” rating and issued a $75.00 price target (down previously from $84.00) on shares of Principal Financial Group in a report on Wednesday, December 11th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $84.75.

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 Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and services.