Jump Financial LLC Sells 6,372 Shares of Principal Financial Group, Inc. $PFG

Key Points

• Jump Financial LLC decreased its stake in Principal Financial Group by 65.9%, resulting in ownership of 3,300 shares after selling 6,372 during the first quarter.
• The company's stock has seen a slight increase of 0.3%, with a current market capitalization of $17.86 billion and a price-to-earnings ratio of 12.00.
• Principal Financial Group recently announced a quarterly dividend of $0.78, representing a yield of 3.9%, an increase from the previous dividend of $0.76.

Jump Financial LLC reduced its holdings in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 65.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,300 shares of the company's stock after selling 6,372 shares during the quarter. Jump Financial LLC's holdings in Principal Financial Group were worth $278,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Stifel Financial Corp raised its position in Principal Financial Group by 3.8% during the fourth quarter. Stifel Financial Corp now owns 14,638 shares of the company's stock valued at $1,133,000 after purchasing an additional 530 shares during the period. AQR Capital Management LLC grew its stake in Principal Financial Group by 431.3% during the 4th quarter. AQR Capital Management LLC now owns 118,730 shares of the company's stock valued at $9,191,000 after purchasing an additional 96,381 shares during the last quarter. Aptus Capital Advisors LLC raised its holdings in shares of Principal Financial Group by 12.4% during the fourth quarter. Aptus Capital Advisors LLC now owns 3,109 shares of the company's stock valued at $241,000 after acquiring an additional 344 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Principal Financial Group by 27.6% during the fourth quarter. BNP Paribas Financial Markets now owns 469,424 shares of the company's stock worth $36,338,000 after acquiring an additional 101,579 shares during the last quarter. Finally, Captrust Financial Advisors increased its stake in Principal Financial Group by 13.9% in the fourth quarter. Captrust Financial Advisors now owns 30,607 shares of the company's stock valued at $2,369,000 after purchasing an additional 3,731 shares during the last quarter. Hedge funds and other institutional investors own 75.08% of the company's stock.

Principal Financial Group Price Performance

Shares of PFG traded down $0.41 during trading hours on Monday, hitting $79.57. 416,223 shares of the company were exchanged, compared to its average volume of 1,384,578. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The company has a market cap of $17.73 billion, a price-to-earnings ratio of 11.89, a P/E/G ratio of 0.76 and a beta of 1.03. Principal Financial Group, Inc. has a fifty-two week low of $68.39 and a fifty-two week high of $91.97. The firm's fifty day moving average is $79.37 and its 200 day moving average is $79.10.

Principal Financial Group (NYSE:PFG - Get Free Report) last issued its earnings results on Monday, July 28th. The company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.19. Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%.During the same period last year, the firm earned $1.63 EPS. On average, equities 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 company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Thursday, September 4th will be paid a dividend of $0.78 per share. The ex-dividend date is Thursday, September 4th. 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 3.9%. Principal Financial Group's payout ratio is presently 62.78%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods reduced their price objective on 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. Piper Sandler boosted their target price on Principal Financial Group from $88.00 to $89.00 and gave the company an "overweight" rating in a research note on Thursday, July 3rd. JPMorgan Chase & Co. lifted their price target on Principal Financial Group from $92.00 to $101.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Barclays boosted their price objective on Principal Financial Group from $76.00 to $80.00 and gave the stock an "underweight" rating in a research report on Monday, July 7th. Finally, Morgan Stanley upped their price objective on 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 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 company. According to MarketBeat, the stock currently has an average rating of "Reduce" and a consensus price target of $86.90.

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.