Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lessened its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 44.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 38,022 shares of the company's stock after selling 30,000 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main's holdings in Principal Financial Group were worth $2,943,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Curio Wealth LLC purchased a new position in shares of Principal Financial Group in the fourth quarter worth $29,000. BankPlus Trust Department purchased a new stake in Principal Financial Group in the 4th quarter worth $33,000. Navigoe LLC bought a new position in shares of Principal Financial Group during the 4th quarter valued at about $37,000. Covestor Ltd grew its position in shares of Principal Financial Group by 144.3% during the fourth quarter. Covestor Ltd now owns 540 shares of the company's stock valued at $42,000 after purchasing an additional 319 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC grew its position in shares of Principal Financial Group by 53.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company's stock valued at $43,000 after purchasing an additional 195 shares in the last quarter. 75.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PFG has been the subject of a number of research reports. Barclays dropped their price target on Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating for the company in a research note on Friday, April 11th. Wells Fargo & Company increased their target price on Principal Financial Group from $68.00 to $69.00 and gave the company an "underweight" rating in a research report on Tuesday, April 29th. Royal Bank of Canada restated a "sector perform" rating and issued a $91.00 price target on shares of Principal Financial Group in a research report on Thursday, January 16th. BMO Capital Markets began coverage on shares of Principal Financial Group in a research note on Thursday, January 23rd. They set a "market perform" rating and a $93.00 price target on the stock. Finally, Morgan Stanley lifted their price objective on shares of Principal Financial Group from $65.00 to $67.00 and gave the stock an "underweight" rating in a research note on Tuesday, May 6th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $83.54.

Principal Financial Group Stock Performance

Shares of PFG stock remained flat at $81.70 on Tuesday. The company had a trading volume of 978,911 shares, compared to its average volume of 1,317,566. Principal Financial Group, Inc. has a 52-week low of $68.39 and a 52-week high of $91.98. The company has a market cap of $18.32 billion, a PE ratio of 12.23, a PEG ratio of 0.76 and a beta of 1.01. The business has a 50 day moving average of $78.34 and a two-hundred day moving average of $81.15. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The company reported $1.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.83 by ($0.02). Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same quarter in the prior year, the company earned $1.65 EPS. As a group, sell-side analysts predict that Principal Financial Group, Inc. will post 8.5 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend is Monday, June 2nd. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.75. Principal Financial Group's payout ratio is 65.10%.

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.