Mn Services Vermogensbeheer B.V. Sells 6,700 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Mn Services Vermogensbeheer B.V. decreased its position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 7.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 86,280 shares of the company's stock after selling 6,700 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Principal Financial Group were worth $7,279,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PFG. Norges Bank bought a new stake in shares of Principal Financial Group during the 4th quarter worth about $217,021,000. Deutsche Bank AG lifted its holdings in Principal Financial Group by 73.5% in the 4th quarter. Deutsche Bank AG now owns 1,482,053 shares of the company's stock worth $114,726,000 after purchasing an additional 627,865 shares during the last quarter. GAMMA Investing LLC boosted its position in Principal Financial Group by 11,781.7% during the first quarter. GAMMA Investing LLC now owns 478,715 shares of the company's stock worth $40,389,000 after purchasing an additional 474,686 shares during the period. Woodline Partners LP acquired a new position in Principal Financial Group during the fourth quarter valued at approximately $28,448,000. Finally, Northern Trust Corp raised its position in shares of Principal Financial Group by 9.8% in the fourth 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 during the period. Hedge funds and other institutional investors own 75.08% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Barclays lowered their price objective on shares of Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating on the stock in a research note on Friday, April 11th. UBS Group dropped 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 report on Tuesday, April 29th. Wells Fargo & Company upped their price objective on shares of Principal Financial Group from $68.00 to $69.00 and gave the company an "underweight" rating in a research report on Tuesday, April 29th. Morgan Stanley increased 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. Finally, Piper Sandler boosted their price target on Principal Financial Group from $93.00 to $95.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Principal Financial Group presently has an average rating of "Hold" and an average price target of $83.85.

Principal Financial Group Stock Up 0.8%

Shares of PFG stock traded up $0.64 during trading hours on Friday, hitting $76.61. 2,048,740 shares of the company were exchanged, compared to its average volume of 1,336,030. Principal Financial Group, Inc. has a 52 week low of $68.39 and a 52 week high of $91.98. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The business has a 50 day moving average of $76.49 and a two-hundred day moving average of $79.76. The company has a market capitalization of $17.18 billion, a PE ratio of 11.47, a PEG ratio of 0.76 and a beta of 1.00.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its earnings results on Monday, April 28th. The company reported $1.81 earnings per share (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 posted $1.65 EPS. 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be issued a $0.76 dividend. 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 dividend on an annualized basis and a dividend yield of 3.97%. Principal Financial Group's dividend payout ratio (DPR) is 65.10%.

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.