Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG has reduced its stake in Principal Financial Group, Inc. by 32.5%, now owning approximately 1,000,837 shares valued at $84.4 million.
• Principal Financial Group recently announced a quarterly dividend of $0.78 per share, an increase from the previous $0.76, reflecting a 4.1% dividend yield.
• The company reported an earnings per share of $2.16 for the last quarter, surpassing expectations and marking significant growth from the previous year's $1.63 EPS.

Deutsche Bank AG decreased its position in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 32.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,000,837 shares of the company's stock after selling 481,216 shares during the quarter. Deutsche Bank AG owned about 0.45% of Principal Financial Group worth $84,441,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. acquired a new position in shares of Principal Financial Group during the 1st quarter valued at about $32,000. Navigoe LLC acquired a new position in shares of Principal Financial Group during the 4th quarter valued at about $37,000. Ameriflex Group Inc. acquired a new position in shares of Principal Financial Group during the 4th quarter valued at about $37,000. Covestor Ltd increased its stake in shares of Principal Financial Group by 144.3% during the 4th quarter. Covestor Ltd now owns 540 shares of the company's stock valued at $42,000 after acquiring an additional 319 shares during the last quarter. Finally, MorganRosel Wealth Management LLC acquired a new position in shares of Principal Financial Group during the 1st quarter valued at about $46,000. Institutional investors and hedge funds own 75.08% of the company's stock.

Analyst Ratings Changes

PFG has been the subject of a number of research analyst reports. Piper Sandler upped their price objective on shares of Principal Financial Group from $88.00 to $89.00 and gave the company an "overweight" rating in a research note on Thursday, July 3rd. Keefe, Bruyette & Woods dropped their price objective on shares of Principal Financial Group from $90.00 to $88.00 and set a "market perform" rating for the company in a research note on Monday, August 4th. Wells Fargo & Company decreased their target price on Principal Financial Group from $73.00 to $72.00 and set an "underweight" rating for the company in a report on Wednesday, July 30th. Morgan Stanley reiterated an "underweight" rating and set a $75.00 target price (up previously from $71.00) on shares of Principal Financial Group in a report on Monday, July 14th. Finally, JPMorgan Chase & Co. boosted their target price on Principal Financial Group from $92.00 to $101.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Principal Financial Group presently has an average rating of "Hold" and a consensus target price of $86.70.

Principal Financial Group Stock Up 1.3%

NYSE PFG opened at $76.59 on Monday. The stock has a market cap of $17.06 billion, a PE ratio of 11.47, a P/E/G ratio of 0.76 and a beta of 1.00. Principal Financial Group, Inc. has a fifty-two week low of $68.39 and a fifty-two week high of $91.97. The business has a 50 day moving average price of $78.39 and a two-hundred day moving average price of $79.71. 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 results on Monday, July 28th. The company reported $2.16 earnings per share for the quarter, topping analysts' consensus estimates of $1.97 by $0.19. Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%. During the same period in the previous year, the firm posted $1.63 earnings per share. As a group, sell-side analysts predict that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Thursday, September 4th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Thursday, September 4th. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.76. Principal Financial Group's dividend payout ratio is currently 62.78%.

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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