Asset Management One Co. Ltd. Sells 12,341 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Asset Management One Co. Ltd. cut its position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 11.3% in the first quarter, according to its most recent disclosure 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 quarter. Asset Management One Co. Ltd.'s holdings in Principal Financial Group were worth $8,201,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Curio Wealth LLC purchased a new stake in shares of Principal Financial Group in the 4th quarter valued at approximately $29,000. Navigoe LLC purchased a new position in Principal Financial Group during the 4th quarter worth approximately $37,000. Ameriflex Group Inc. acquired a new stake in Principal Financial Group during the 4th quarter valued at $37,000. Covestor Ltd lifted its holdings in shares of Principal Financial Group by 144.3% in the fourth quarter. Covestor Ltd now owns 540 shares of the company's stock valued at $42,000 after purchasing an additional 319 shares in the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Principal Financial Group in the fourth quarter worth $54,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Stock Up 1.8%

PFG stock traded up $1.40 during trading hours on Tuesday, hitting $80.83. The company's stock had a trading volume of 1,185,862 shares, compared to its average volume of 1,328,337. The stock has a 50 day moving average price of $77.46 and a two-hundred day moving average price of $79.53. Principal Financial Group, Inc. has a 12 month low of $68.39 and a 12 month high of $91.98. The company has a market capitalization of $18.12 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 0.76 and a beta of 1.00. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The company reported $1.81 earnings per share (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 last year, the business posted $1.65 earnings per share. On average, equities research analysts expect 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 declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Monday, June 2nd were given a $0.76 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.76%. 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 Analysts Forecast Growth

Several research analysts recently weighed in on the company. Wells Fargo & Company upped their price target 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 lowered their target price on 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. Morgan Stanley increased their price target on shares of Principal Financial Group from $67.00 to $71.00 and gave the stock an "underweight" rating in a research report on Monday, May 19th. Piper Sandler boosted their price objective on shares of Principal Financial Group from $93.00 to $95.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. Finally, 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 research note on Tuesday, April 29th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Principal Financial Group has a consensus rating of "Hold" and a consensus target price of $83.85.

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.