Cwm LLC Cuts Position in Principal Financial Group, Inc. $PFG

Cwm LLC lowered its holdings in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 20.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,181 shares of the company's stock after selling 3,829 shares during the quarter. Cwm LLC's holdings in Principal Financial Group were worth $1,206,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Geneos Wealth Management Inc. boosted its holdings in Principal Financial Group by 7.6% during the first quarter. Geneos Wealth Management Inc. now owns 1,889 shares of the company's stock worth $159,000 after buying an additional 134 shares in the last quarter. Federation des caisses Desjardins du Quebec grew its holdings in shares of Principal Financial Group by 0.5% in the 1st quarter. Federation des caisses Desjardins du Quebec now owns 27,536 shares of the company's stock worth $2,323,000 after acquiring an additional 139 shares during the period. Stratos Wealth Partners LTD. increased its stake in Principal Financial Group by 3.9% in the 1st quarter. Stratos Wealth Partners LTD. now owns 3,826 shares of the company's stock valued at $323,000 after purchasing an additional 144 shares in the last quarter. Raiffeisen Bank International AG raised its holdings in Principal Financial Group by 12.6% during the first quarter. Raiffeisen Bank International AG now owns 1,380 shares of the company's stock worth $115,000 after purchasing an additional 154 shares during the last quarter. Finally, Gentry Private Wealth LLC boosted its position in Principal Financial Group by 2.2% during the second quarter. Gentry Private Wealth LLC now owns 7,099 shares of the company's stock worth $564,000 after purchasing an additional 156 shares in the last quarter. 75.08% of the stock is owned by institutional investors and hedge funds.

Principal Financial Group Stock Performance

NYSE:PFG opened at $78.97 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The firm has a market cap of $17.59 billion, a PE ratio of 11.82, a P/E/G ratio of 0.76 and a beta of 1.03. The firm has a 50 day simple moving average of $80.78 and a 200-day simple moving average of $78.50. Principal Financial Group, Inc. has a 1-year low of $68.39 and a 1-year high of $90.71.

Principal Financial Group (NYSE:PFG - Get Free Report) last announced its earnings results on Monday, July 28th. The company reported $2.16 earnings per share (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 last year, the company earned $1.63 EPS. On average, equities analysts expect that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Thursday, September 4th were given a $0.78 dividend. This is an increase from Principal Financial Group's previous quarterly dividend of $0.76. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Thursday, September 4th. Principal Financial Group's dividend payout ratio (DPR) is presently 62.78%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PFG. Wells Fargo & Company lifted their price target on Principal Financial Group from $72.00 to $73.00 and gave the stock an "underweight" rating in a research note on Wednesday, October 8th. UBS Group raised their target price 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. JPMorgan Chase & Co. lifted their target price on shares of Principal Financial Group from $92.00 to $101.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Piper Sandler set a $94.00 price target on shares of Principal Financial Group and gave the company an "overweight" rating in a research report on Tuesday, October 7th. Finally, Barclays raised their price objective on shares of Principal Financial Group from $80.00 to $83.00 and gave the stock an "underweight" rating in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of $88.60.

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.

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