Invesco Ltd. Has $219.41 Million Stake in Principal Financial Group, Inc. (NYSE:PFG)

Invesco Ltd. trimmed its position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 5.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,600,510 shares of the company's stock after selling 153,477 shares during the period. Invesco Ltd. owned approximately 1.16% of Principal Financial Group worth $219,405,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Victory Capital Management Inc. boosted its stake in shares of Principal Financial Group by 802.2% in the 1st quarter. Victory Capital Management Inc. now owns 3,707,534 shares of the company's stock valued at $312,805,000 after purchasing an additional 3,296,608 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Principal Financial Group by 9.8% in the 4th quarter. Northern Trust Corp now owns 3,662,918 shares of the company's stock valued at $283,546,000 after purchasing an additional 326,604 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Principal Financial Group by 12.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,877,246 shares of the company's stock valued at $145,318,000 after purchasing an additional 209,885 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Principal Financial Group by 73.5% in the 4th quarter. Deutsche Bank AG now owns 1,482,053 shares of the company's stock valued at $114,726,000 after purchasing an additional 627,865 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Principal Financial Group by 1.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,468,728 shares of the company's stock valued at $123,917,000 after purchasing an additional 20,221 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Stock Up 1.4%

Principal Financial Group stock opened at $78.34 on Thursday. 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, Inc. has a 52-week low of $68.39 and a 52-week high of $91.97. The firm has a 50 day moving average price of $78.42 and a two-hundred day moving average price of $79.64. The firm has a market cap of $17.45 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 0.76 and a beta of 1.00.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The company reported $2.16 earnings per share (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 quarter last year, the business posted $1.63 earnings per share. Equities analysts predict that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Thursday, September 4th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 4.0%. 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%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PFG. Wells Fargo & Company reduced their price target on shares of Principal Financial Group from $73.00 to $72.00 and set an "underweight" rating on the stock in a research note on Wednesday, July 30th. Barclays raised their price objective on shares of Principal Financial Group from $76.00 to $80.00 and gave the company an "underweight" rating in a report on Monday, July 7th. UBS Group raised their price objective 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. raised their price objective on shares of Principal Financial Group from $92.00 to $101.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Principal Financial Group from $90.00 to $88.00 and set a "market perform" rating for the company in a report on Monday, August 4th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Principal Financial Group has an average rating of "Hold" and a consensus target price of $86.70.

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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