BI Asset Management Fondsmaeglerselskab A S Sells 4,156 Shares of Principal Financial Group, Inc. $PFG

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its stake in Principal Financial Group by 36.3% in the 1st quarter, holding 7,299 shares valued at $616,000 after selling 4,156 shares.
• The company announced a quarterly dividend increase to $0.78 per share, payable on September 26th, representing a 3.9% yield and an increase from the previous $0.76 dividend.
• Principal Financial Group's stock price hit $80.72, with a 12-month low of $68.39 and a high of $91.97, and its consensus rating currently stands at "Reduce" with a target price of $86.90.

BI Asset Management Fondsmaeglerselskab A S trimmed its position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 36.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 7,299 shares of the company's stock after selling 4,156 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Principal Financial Group were worth $616,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Versor Investments LP purchased a new stake in Principal Financial Group during the 1st quarter valued at about $1,443,000. Freestone Capital Holdings LLC raised its holdings in shares of Principal Financial Group by 1.5% during the first quarter. Freestone Capital Holdings LLC now owns 35,890 shares of the company's stock valued at $3,028,000 after purchasing an additional 534 shares during the last quarter. Cresset Asset Management LLC grew its position in Principal Financial Group by 2.9% in the 1st quarter. Cresset Asset Management LLC now owns 10,209 shares of the company's stock worth $861,000 after purchasing an additional 292 shares during the period. Brandywine Global Investment Management LLC raised its stake in Principal Financial Group by 2.1% during the 1st quarter. Brandywine Global Investment Management LLC now owns 137,495 shares of the company's stock valued at $11,600,000 after buying an additional 2,795 shares during the last quarter. Finally, Aberdeen Group plc boosted its stake in shares of Principal Financial Group by 113.5% in the 1st quarter. Aberdeen Group plc now owns 165,700 shares of the company's stock worth $13,874,000 after buying an additional 88,100 shares during the last quarter. 75.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PFG has been the subject of a number of research reports. Keefe, Bruyette & Woods reduced their price objective on Principal Financial Group from $90.00 to $88.00 and set a "market perform" rating for the company in a research report on Monday, August 4th. Morgan Stanley upped their price target on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an "underweight" rating in a research report on Monday, August 18th. UBS Group raised 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. JPMorgan Chase & Co. raised their price objective on shares of Principal Financial Group from $92.00 to $101.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Finally, Barclays raised their price objective on shares of Principal Financial Group from $76.00 to $80.00 and gave the stock an "underweight" rating in a report on Monday, July 7th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Reduce" and a consensus price target of $86.90.

Principal Financial Group Stock Performance

NYSE PFG traded up $0.36 on Friday, reaching $80.58. 142,930 shares of the stock were exchanged, compared to its average volume of 1,387,269. Principal Financial Group, Inc. has a one year low of $68.39 and a one year high of $91.97. The firm has a market capitalization of $17.95 billion, a PE ratio of 12.07, a PEG ratio of 0.76 and a beta of 1.00. The company's 50-day simple moving average is $79.05 and its two-hundred day simple moving average is $79.43. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its earnings results on Monday, July 28th. The company reported $2.16 EPS 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 previous year, the business posted $1.63 EPS. Analysts expect that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Thursday, September 4th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Thursday, September 4th. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.76. Principal Financial Group's dividend payout ratio (DPR) is 62.78%.

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.