Principal Financial Group, Inc. $PFG Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System decreased its position in Principal Financial Group, Inc. (NASDAQ:PFG - Free Report) by 10.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 355,366 shares of the company's stock after selling 42,508 shares during the quarter. California State Teachers Retirement System owned about 0.17% of Principal Financial Group worth $38,301,347 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Hilton Head Capital Partners LLC acquired a new position in shares of Principal Financial Group during the 4th quarter worth approximately $26,000. Valley Wealth Managers Inc. purchased a new stake in Principal Financial Group during the 1st quarter valued at about $27,000. Ancora Advisors LLC purchased a new position in Principal Financial Group in the 2nd quarter worth approximately $27,000. MBM Wealth Consultants LLC purchased a new position in shares of Principal Financial Group during the first quarter valued at about $28,000. Finally, Signature Equity Partners LLC lifted its position in shares of Principal Financial Group by 5,733.3% in the 1st quarter. Signature Equity Partners LLC now owns 350 shares of the company's stock worth $32,000 after purchasing an additional 344 shares during the period. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Stock Up 0.8%

Shares of NASDAQ:PFG traded up $0.93 during trading on Tuesday, hitting $117.83. The company's stock had a trading volume of 407,653 shares, compared to its average volume of 1,464,309. The company has a market capitalization of $25.23 billion, a PE ratio of 16.74, a P/E/G ratio of 1.05 and a beta of 0.86. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.28 and a current ratio of 0.28. Principal Financial Group, Inc. has a fifty-two week low of $77.90 and a fifty-two week high of $121.18. The business has a 50 day moving average price of $112.97 and a two-hundred day moving average price of $103.77.

Principal Financial Group (NASDAQ:PFG - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $2.50 EPS for the quarter, topping analysts' consensus estimates of $2.33 by $0.17. Principal Financial Group had a return on equity of 16.49% and a net margin of 9.93%.The business had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $4.11 billion. During the same period in the prior year, the firm posted $2.16 EPS. As a group, research analysts expect that Principal Financial Group, Inc. will post 9.62 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 3rd will be given a dividend of $0.84 per share. The ex-dividend date is Thursday, September 3rd. This represents a $3.36 annualized dividend and a dividend yield of 2.9%. This is an increase from Principal Financial Group's previous quarterly dividend of $0.82. Principal Financial Group's dividend payout ratio is currently 47.73%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PFG shares. UBS Group lifted their price objective on shares of Principal Financial Group from $98.00 to $120.00 and gave the company a "neutral" rating in a report on Thursday, September 10th. Bank of America upped their price objective on shares of Principal Financial Group from $94.00 to $104.00 and gave the company an "underperform" rating in a research note on Tuesday, July 28th. Piper Sandler raised their target price on shares of Principal Financial Group from $113.00 to $125.00 and gave the company an "overweight" rating in a research note on Wednesday, June 24th. Barclays upped their price objective on shares of Principal Financial Group from $87.00 to $92.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. lifted their price target on Principal Financial Group from $106.00 to $107.00 and gave the company a "neutral" rating in a research report on Monday, August 3rd. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $108.83.

Principal Financial Group Company Profile

Principal Financial Group, Inc is a global financial services company headquartered in Des Moines, Iowa. Founded in 1879, the company provides investment management, retirement, insurance and financial wellness solutions to businesses, individuals and institutional investors.

Principal offers employer-sponsored retirement plans, including defined contribution and defined benefit programs, as well as pension risk transfer solutions. Its insurance products and services include group benefits, individual life insurance and disability insurance.

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