Nuveen Asset Management LLC Lowers Stock Holdings in Principal Financial Group, Inc. (NYSE:PFG)

Nuveen Asset Management LLC trimmed its position in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 553,555 shares of the company's stock after selling 7,732 shares during the quarter. Nuveen Asset Management LLC owned about 0.24% of Principal Financial Group worth $42,851,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of PFG. OMERS ADMINISTRATION Corp boosted its stake in shares of Principal Financial Group by 19.9% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 9,931 shares of the company's stock valued at $769,000 after purchasing an additional 1,648 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Principal Financial Group by 5.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,423 shares of the company's stock worth $4,445,000 after acquiring an additional 3,086 shares during the period. LMR Partners LLP acquired a new position in Principal Financial Group in the 4th quarter valued at approximately $696,000. Interval Partners LP increased its position in shares of Principal Financial Group by 1.2% during the fourth quarter. Interval Partners LP now owns 113,995 shares of the company's stock worth $8,824,000 after buying an additional 1,352 shares during the period. Finally, Graham Capital Management L.P. boosted its stake in Principal Financial Group by 240.8% during the fourth quarter. Graham Capital Management L.P. now owns 8,122 shares of the company's stock worth $629,000 after acquiring an additional 5,739 shares in the last quarter. Institutional investors own 75.08% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Principal Financial Group from $86.00 to $87.00 and gave the stock a "market perform" rating in a report on Wednesday, May 7th. Barclays reduced 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 report on Friday, April 11th. UBS Group reduced their target price on shares of Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Wells Fargo & Company raised their target price on shares of Principal Financial Group from $68.00 to $69.00 and gave the company an "underweight" rating in a report on Tuesday, April 29th. Finally, Piper Sandler raised their target price on shares of Principal Financial Group from $93.00 to $95.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $83.85.

Principal Financial Group Trading Down 0.4%

NYSE:PFG traded down $0.34 on Friday, hitting $77.01. 846,029 shares of the stock were exchanged, compared to its average volume of 1,323,696. The stock has a market capitalization of $17.26 billion, a price-to-earnings ratio of 11.53, a P/E/G ratio of 0.76 and a beta of 1.01. Principal Financial Group, Inc. has a 52 week low of $68.39 and a 52 week high of $91.98. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The company's 50-day moving average price is $77.70 and its 200 day moving average price is $80.90.

Principal Financial Group (NYSE:PFG - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The company reported $1.81 EPS for the quarter, missing analysts' consensus estimates 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 period in the prior year, the firm earned $1.65 earnings per share. On average, equities 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 will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.95%. The ex-dividend date is Monday, June 2nd. This is an increase from Principal Financial Group's previous quarterly dividend of $0.75. Principal Financial Group's dividend payout ratio is presently 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.