Cambridge Investment Research Advisors Inc. Sells 3,282 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Cambridge Investment Research Advisors Inc. lowered its stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 3.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 84,886 shares of the company's stock after selling 3,282 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Principal Financial Group were worth $7,162,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Curio Wealth LLC purchased a new position in shares of Principal Financial Group in the fourth quarter worth $29,000. Ameriflex Group Inc. purchased a new position in shares of Principal Financial Group in the fourth quarter valued at about $37,000. Navigoe LLC bought a new position in shares of Principal Financial Group during the fourth quarter valued at about $37,000. Covestor Ltd raised its stake 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 acquiring an additional 319 shares during the last quarter. Finally, Tompkins Financial Corp purchased a new stake in shares of Principal Financial Group during the first quarter worth about $55,000. Institutional investors own 75.08% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on PFG. Wells Fargo & Company upped their price target 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. Piper Sandler raised their price target on Principal Financial Group from $93.00 to $95.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. UBS Group reduced their price objective on shares of Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Barclays decreased their price objective on shares of Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating for the company in a report on Friday, April 11th. Finally, Morgan Stanley lifted their target price on shares of Principal Financial Group from $67.00 to $71.00 and gave the company an "underweight" rating in a research note on Monday, May 19th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $83.85.

Principal Financial Group Price Performance

Shares of PFG opened at $78.40 on Friday. Principal Financial Group, Inc. has a fifty-two week low of $68.39 and a fifty-two week high of $91.98. The firm's 50-day simple moving average is $76.98 and its two-hundred day simple moving average is $79.53. The stock has a market cap of $17.58 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 0.76 and a beta of 1.00. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29.

Principal Financial Group (NYSE:PFG - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The company reported $1.81 EPS for the quarter, missing analysts' consensus estimates of $1.83 by ($0.02). Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%. During the same period in the prior year, the firm earned $1.65 earnings per share. Analysts anticipate 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 declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.76 per share. The ex-dividend date is Monday, June 2nd. This is an increase from Principal Financial Group's previous quarterly dividend of $0.75. This represents a $3.04 annualized dividend and a dividend yield of 3.88%. Principal Financial Group's dividend payout ratio (DPR) is presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.