B. Metzler seel. Sohn & Co. AG Decreases Stock Position in Principal Financial Group, Inc. $PFG

Key Points

• B. Metzler seel. Sohn & Co. AG reduced its stock holdings in Principal Financial Group, Inc. by 46.5%, owning 11,486 shares worth approximately $969,000 after selling 9,972 shares in the first quarter.
• Principal Financial Group has reported a quarterly earnings per share (EPS) of $2.16, surpassing analyst expectations of $1.97, and plans to distribute a dividend increase to $0.78 per share.
• Institutional investors currently hold 75.08% of the stock, with multiple firms, including Transamerica and Ieq Capital, significantly increasing their positions in the company.

B. Metzler seel. Sohn & Co. AG lessened its stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 46.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,486 shares of the company's stock after selling 9,972 shares during the period. B. Metzler seel. Sohn & Co. AG's holdings in Principal Financial Group were worth $969,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PFG. von Borstel & Associates Inc. acquired a new position in shares of Principal Financial Group during the 1st quarter valued at $32,000. Zions Bancorporation National Association UT acquired a new position in Principal Financial Group during the 1st quarter worth approximately $34,000. Ameriflex Group Inc. acquired a new position in Principal Financial Group during the 4th quarter worth approximately $37,000. GKV Capital Management Co. Inc. acquired a new position in Principal Financial Group during the 1st quarter worth approximately $45,000. Finally, MorganRosel Wealth Management LLC acquired a new position in Principal Financial Group during the 1st quarter worth approximately $46,000. Institutional investors and hedge funds own 75.08% of the company's stock.

Principal Financial Group Stock Up 1.9%

Shares of PFG stock traded up $1.55 on Thursday, hitting $80.95. The stock had a trading volume of 417,672 shares, compared to its average volume of 1,388,379. The business has a 50 day moving average of $79.30 and a 200 day moving average of $79.27. The stock has a market cap of $18.03 billion, a price-to-earnings ratio of 12.12, a price-to-earnings-growth ratio of 0.76 and a beta of 1.03. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. Principal Financial Group, Inc. has a 12-month low of $68.39 and a 12-month high of $91.97.

Principal Financial Group (NYSE:PFG - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The company reported $2.16 EPS for the quarter, beating analysts' consensus estimates of $1.97 by $0.19. Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%.During the same quarter in the prior year, the business earned $1.63 earnings per share. As a group, analysts expect that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Principal Financial Group from $92.00 to $101.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods lowered their price objective on shares of Principal Financial Group from $90.00 to $88.00 and set a "market perform" rating on the stock in a report on Monday, August 4th. Wells Fargo & Company lowered their price objective on shares of Principal Financial Group from $73.00 to $72.00 and set an "underweight" rating on the stock in a report on Wednesday, July 30th. UBS Group upped their price objective on shares of Principal Financial Group from $85.00 to $87.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Finally, Piper Sandler upped their price objective on shares of Principal Financial Group from $88.00 to $89.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. 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's stock. Based on data from MarketBeat, Principal Financial Group currently has an average rating of "Reduce" and a consensus price target of $86.90.

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.