M&T Bank Corp Sells 4,446 Shares of Principal Financial Group, Inc. (NYSE:PFG)

M&T Bank Corp lowered its position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 37.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,353 shares of the company's stock after selling 4,446 shares during the period. M&T Bank Corp's holdings in Principal Financial Group were worth $620,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in Principal Financial Group by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 5,466,587 shares of the company's stock valued at $422,074,000 after acquiring an additional 52,410 shares during the period. Northern Trust Corp grew its holdings 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 worth $283,546,000 after acquiring an additional 326,604 shares during the period. Norges Bank acquired a new stake in shares of Principal Financial Group in the 4th quarter worth approximately $217,021,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings 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 worth $145,318,000 after acquiring an additional 209,885 shares during the period. Finally, Deutsche Bank AG lifted its stake 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 valued at $114,726,000 after buying an additional 627,865 shares in the last quarter. Institutional investors and hedge funds own 75.08% of the company's stock.

Principal Financial Group Price Performance

Principal Financial Group stock traded up $0.09 during mid-day trading on Friday, hitting $81.06. The company's stock had a trading volume of 867,487 shares, compared to its average volume of 1,316,593. 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 stock has a market capitalization of $18.17 billion, a P/E ratio of 12.13, a P/E/G ratio of 0.76 and a beta of 0.99. Principal Financial Group, Inc. has a twelve month low of $68.39 and a twelve month high of $91.98. The stock's fifty day moving average price is $78.76 and its two-hundred day moving average price is $79.82.

Principal Financial Group (NYSE:PFG - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The company reported $1.81 EPS for the quarter, missing the consensus estimate of $1.83 by ($0.02). Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same quarter in the previous year, the firm earned $1.65 EPS. Research analysts forecast 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 disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Monday, June 2nd were issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 3.75%. This is an increase from Principal Financial Group's previous quarterly dividend of $0.75. The ex-dividend date was Monday, June 2nd. Principal Financial Group's payout ratio is presently 65.10%.

Wall Street Analyst Weigh In

PFG has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods increased their price target on Principal Financial Group from $87.00 to $90.00 and gave the stock a "market perform" rating in a research note on Wednesday, July 9th. Wells Fargo & Company increased their price target on Principal Financial Group from $69.00 to $73.00 and gave the company an "underweight" rating in a report on Thursday, July 10th. UBS Group lowered their price target on Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Barclays raised their target price on Principal Financial Group from $76.00 to $80.00 and gave the company an "underweight" rating in a research note on Monday, July 7th. Finally, Morgan Stanley reaffirmed an "underweight" rating and set a $75.00 price target (up previously from $71.00) on shares of Principal Financial Group in a research report on Monday, July 14th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Principal Financial Group has a consensus rating of "Hold" and a consensus price target of $84.82.

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.