Hsbc Holdings PLC Reduces Position in Principal Financial Group, Inc. $PFG

Key Points

• Hsbc Holdings PLC reduced its stake in Principal Financial Group by 18.1% in the first quarter, holding 1,177,467 shares valued at approximately $99.23 million.
• Principal Financial Group recently declared a quarterly dividend of $0.78 per share, increasing from the previous $0.76 and offering a yield of 4.0% for investors.
• Research analysts have mixed ratings on Principal Financial Group, with a consensus price target of $86.90 and varying recommendations ranging from "Buy" to "Sell."

Hsbc Holdings PLC trimmed its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 18.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,177,467 shares of the company's stock after selling 259,392 shares during the period. Hsbc Holdings PLC owned approximately 0.53% of Principal Financial Group worth $99,230,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PFG. von Borstel & Associates Inc. acquired a new stake in Principal Financial Group during the 1st quarter valued at approximately $32,000. Zions Bancorporation National Association UT acquired a new stake in Principal Financial Group during the 1st quarter valued at approximately $34,000. Navigoe LLC acquired a new stake in Principal Financial Group during the 4th quarter valued at approximately $37,000. Ameriflex Group Inc. acquired a new position in shares of Principal Financial Group in the 4th quarter valued at $37,000. Finally, GKV Capital Management Co. Inc. acquired a new position in shares of Principal Financial Group in the 1st quarter valued at $45,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on PFG shares. Piper Sandler boosted their target price on shares of Principal Financial Group from $88.00 to $89.00 and gave the company an "overweight" rating in a research note on Thursday, July 3rd. Keefe, Bruyette & Woods decreased their target price on shares of Principal Financial Group from $90.00 to $88.00 and set a "market perform" rating for the company in a research note on Monday, August 4th. Wells Fargo & Company decreased their target price on shares of Principal Financial Group from $73.00 to $72.00 and set an "underweight" rating for the company in a research note on Wednesday, July 30th. UBS Group boosted their target price on shares of Principal Financial Group from $85.00 to $87.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. Finally, Morgan Stanley boosted their target price on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an "underweight" rating in a research note on Monday, August 18th. Two 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 stock currently has a consensus rating of "Reduce" and a consensus target price of $86.90.

Principal Financial Group Price Performance

NYSE PFG traded down $0.20 on Tuesday, hitting $80.09. The company had a trading volume of 114,888 shares, compared to its average volume of 1,394,299. The company has a market capitalization of $17.84 billion, a PE ratio of 11.98, a PEG ratio of 0.76 and a beta of 1.00. The company's fifty day moving average price is $78.77 and its 200-day moving average price is $79.44. 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, topping the consensus estimate 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 period last year, the firm posted $1.63 earnings per share. As a group, analysts predict that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

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

About Principal Financial Group

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.