Allianz Asset Management GmbH Has $6.27 Million Stock Holdings in Principal Financial Group, Inc. $PFG

Key Points

• Allianz Asset Management GmbH has significantly reduced its holdings in Principal Financial Group by 62.8%, owning 78,948 shares valued at approximately $6.27 million at the end of the most recent quarter.
• Wall Street analysts have mixed ratings for Principal Financial Group, with price targets ranging from $73.00 to $94.00, and an average rating of "Reduce" with a price target of $88.60.
• Principal Financial Group has announced an increase in its quarterly dividend from $0.76 to $0.78 per share, resulting in an annualized yield of 3.9%.

Allianz Asset Management GmbH cut its position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 62.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 78,948 shares of the company's stock after selling 133,102 shares during the period. Allianz Asset Management GmbH's holdings in Principal Financial Group were worth $6,271,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Oliver Lagore Vanvalin Investment Group acquired a new position in Principal Financial Group in the 2nd quarter valued at about $25,000. American National Bank & Trust acquired a new position in Principal Financial Group in the 2nd quarter valued at about $28,000. von Borstel & Associates Inc. acquired a new position in Principal Financial Group in the 1st quarter valued at about $32,000. Private Wealth Asset Management LLC grew its stake in Principal Financial Group by 163.4% in the 2nd quarter. Private Wealth Asset Management LLC now owns 403 shares of the company's stock valued at $32,000 after buying an additional 250 shares during the last quarter. Finally, Zions Bancorporation National Association UT acquired a new position in Principal Financial Group in the 1st quarter valued at about $34,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PFG shares. Evercore ISI upped their price target on shares of Principal Financial Group from $92.00 to $94.00 and gave the company an "in-line" rating in a research note on Thursday, October 9th. Morgan Stanley upped their price target on shares of Principal Financial Group from $77.00 to $80.00 and gave the company an "underweight" rating in a research note on Tuesday, October 7th. Barclays upped their price target on shares of Principal Financial Group from $80.00 to $83.00 and gave the company an "underweight" rating in a research note on Wednesday, October 8th. Wells Fargo & Company boosted their price objective on shares of Principal Financial Group from $72.00 to $73.00 and gave the company an "underweight" rating in a report on Wednesday, October 8th. Finally, UBS Group boosted their price objective on shares of Principal Financial Group from $85.00 to $87.00 and gave the company a "neutral" rating in a report on Tuesday, July 29th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Principal Financial Group currently has an average rating of "Reduce" and an average price target of $88.60.

Principal Financial Group Stock Performance

Shares of Principal Financial Group stock opened at $79.14 on Thursday. The company has a 50 day moving average of $80.84 and a 200-day moving average of $78.51. Principal Financial Group, Inc. has a 1-year low of $68.39 and a 1-year high of $90.31. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The company has a market cap of $17.63 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 0.76 and a beta of 1.03.

Principal Financial Group (NYSE:PFG - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The company reported $2.16 earnings per share for the quarter, topping analysts' consensus estimates of $1.97 by $0.19. 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 firm posted $1.63 earnings per share. As a group, equities research analysts forecast that Principal Financial Group, Inc. will post 8.5 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Thursday, September 4th were given a dividend of $0.78 per share. The ex-dividend date was Thursday, September 4th. This represents a $3.12 dividend on an annualized basis and a yield of 3.9%. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.76. Principal Financial Group's dividend payout ratio is currently 62.78%.

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.

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