Principal Financial Group, Inc. (NYSE:PFG) Holdings Decreased by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. reduced its holdings in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 11.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,207 shares of the company's stock after selling 12,341 shares during the period. Asset Management One Co. Ltd.'s holdings in Principal Financial Group were worth $8,201,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Curio Wealth LLC purchased a new position in Principal Financial Group during the 4th quarter valued at about $29,000. Ameriflex Group Inc. acquired a new stake in shares of Principal Financial Group during the fourth quarter worth approximately $37,000. Navigoe LLC acquired a new stake in shares of Principal Financial Group during the fourth quarter worth approximately $37,000. Covestor Ltd boosted its holdings in shares of Principal Financial Group by 144.3% during the fourth quarter. Covestor Ltd now owns 540 shares of the company's stock worth $42,000 after purchasing an additional 319 shares during the period. Finally, Tompkins Financial Corp acquired a new stake in shares of Principal Financial Group during the first quarter worth approximately $55,000. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Price Performance

Shares of Principal Financial Group stock opened at $79.19 on Friday. The firm has a fifty day simple moving average of $77.12 and a 200-day simple moving average of $79.52. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a 1-year low of $68.39 and a 1-year high of $91.98. The stock has a market capitalization of $17.75 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 0.76 and a beta of 1.00.

Principal Financial Group (NYSE:PFG - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The company reported $1.81 earnings per share 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 quarter last year, the firm earned $1.65 earnings per share. On average, sell-side analysts expect that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Monday, June 2nd were given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 3.84%. The ex-dividend date was Monday, June 2nd. This is a boost from Principal Financial Group's previous quarterly dividend of $0.75. Principal Financial Group's payout ratio is currently 65.10%.

Wall Street Analyst Weigh In

PFG has been the subject of a number of research reports. Keefe, Bruyette & Woods lifted their target price on shares of Principal Financial Group from $86.00 to $87.00 and gave the company a "market perform" rating in a research note on Wednesday, May 7th. Wells Fargo & Company lifted their price objective on Principal Financial Group from $68.00 to $69.00 and gave the company an "underweight" rating in a research report on Tuesday, April 29th. Barclays reduced their price objective on Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating for the company in a research report on Friday, April 11th. UBS Group reduced 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. Finally, Morgan Stanley lifted their price target on Principal Financial Group from $67.00 to $71.00 and gave the company an "underweight" rating in a report on Monday, May 19th. Four analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $83.85.

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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