Deutsche Bank AG Decreases Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

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 lowered its position in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 32.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,000,837 shares of the company's stock after selling 481,216 shares during the quarter. Deutsche Bank AG owned approximately 0.45% of Principal Financial Group worth $84,441,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PFG. von Borstel & Associates Inc. acquired a new position in shares of Principal Financial Group during the first quarter valued at approximately $32,000. Navigoe LLC acquired a new stake in shares of Principal Financial Group in the fourth quarter valued at approximately $37,000. Ameriflex Group Inc. acquired a new stake in shares of Principal Financial Group in the fourth quarter valued at approximately $37,000. Covestor Ltd increased 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 during the last quarter. Finally, MorganRosel Wealth Management LLC acquired a new stake in shares of Principal Financial Group in the first quarter valued at approximately $46,000. Institutional investors and hedge funds own 75.08% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PFG shares. Barclays increased their price target on Principal Financial Group from $76.00 to $80.00 and gave the company an "underweight" rating in a report on Monday, July 7th. Morgan Stanley reissued an "underweight" rating and set a $75.00 target price (up previously from $71.00) on shares of Principal Financial Group in a research note on Monday, July 14th. Piper Sandler raised their target price on Principal Financial Group from $88.00 to $89.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. UBS Group raised their target price on Principal Financial Group from $85.00 to $87.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 29th. Finally, Wells Fargo & Company cut their target price on Principal Financial Group from $73.00 to $72.00 and set an "underweight" rating for the company in a research note on Wednesday, July 30th. Three 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. According to data from MarketBeat.com, Principal Financial Group has a consensus rating of "Hold" and a consensus target price of $86.70.

Principal Financial Group Trading Down 0.4%

Shares of PFG traded down $0.32 during midday trading on Friday, hitting $77.78. 172,659 shares of the stock were exchanged, compared to its average volume of 1,412,656. Principal Financial Group, Inc. has a 52-week low of $68.39 and a 52-week high of $91.97. The stock has a fifty day simple moving average of $78.46 and a 200 day simple moving average of $79.61. The firm has a market cap of $17.33 billion, a P/E ratio of 11.64, a P/E/G ratio of 0.76 and a beta of 1.00. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The company reported $2.16 EPS for the quarter, topping the consensus estimate 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 quarter last year, the company earned $1.63 earnings per share. On average, research analysts anticipate that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Thursday, September 4th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 4.0%. This is a boost from Principal Financial Group's previous quarterly dividend of $0.76. The ex-dividend date is Thursday, September 4th. Principal Financial Group's dividend payout ratio (DPR) is 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.