Quantinno Capital Management LP Sells 7,351 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Quantinno Capital Management LP lowered its stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 16.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,843 shares of the company's stock after selling 7,351 shares during the period. Quantinno Capital Management LP's holdings in Principal Financial Group were worth $2,929,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Curio Wealth LLC acquired a new position in Principal Financial Group in the fourth quarter valued at about $29,000. BankPlus Trust Department acquired a new stake in Principal Financial Group during the fourth quarter worth approximately $33,000. Navigoe LLC acquired a new position in Principal Financial Group in the fourth quarter valued at $37,000. Covestor Ltd increased its holdings in shares of Principal Financial Group by 144.3% in 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 period. Finally, Golden State Wealth Management LLC acquired a new position in shares of Principal Financial Group in the fourth quarter valued at approximately $46,000. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PFG has been the topic of a number of research reports. Keefe, Bruyette & Woods upped their price target on Principal Financial Group from $86.00 to $87.00 and gave the stock a "market perform" rating in a report on Wednesday, May 7th. Morgan Stanley lifted their target price 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 increased their price target 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. Barclays reduced 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. Finally, UBS Group dropped their price target on Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $83.85.

Principal Financial Group Price Performance

Shares of Principal Financial Group stock traded down $0.34 during trading on Friday, hitting $77.01. The stock had a trading volume of 846,029 shares, compared to its average volume of 1,323,696. The business has a fifty day moving average of $77.70 and a two-hundred day moving average of $80.90. The firm has a market cap of $17.26 billion, a P/E ratio of 11.53, a PEG ratio of 0.76 and a beta of 1.01. Principal Financial Group, Inc. has a fifty-two week low of $68.39 and a fifty-two week high of $91.98. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30.

Principal Financial Group (NYSE:PFG - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The company reported $1.81 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 in the previous year, the company posted $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 fiscal year.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.76 per share. The ex-dividend date is Monday, June 2nd. This is an increase from Principal Financial Group's previous quarterly dividend of $0.75. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.95%. Principal Financial Group's dividend payout ratio (DPR) is 65.10%.

About Principal Financial Group

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.