Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Quantinno Capital Management LP

Quantinno Capital Management LP lessened its stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 16.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor 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.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PFG. Curio Wealth LLC bought a new position in shares of Principal Financial Group during the 4th quarter valued at about $29,000. BankPlus Trust Department purchased a new stake in shares of Principal Financial Group in the fourth quarter worth approximately $33,000. Navigoe LLC purchased a new stake in shares of Principal Financial Group in the fourth quarter worth approximately $37,000. Covestor Ltd lifted its position in shares of Principal Financial Group by 144.3% in the fourth quarter. Covestor Ltd now owns 540 shares of the company's stock worth $42,000 after purchasing an additional 319 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Principal Financial Group in the fourth quarter worth approximately $46,000. Institutional investors own 75.08% of the company's stock.

Analysts Set New Price Targets

PFG has been the subject of a number of research analyst reports. BMO Capital Markets initiated coverage on shares of Principal Financial Group in a research report on Thursday, January 23rd. They issued a "market perform" rating and a $93.00 price target for the company. Wells Fargo & Company increased their price target on shares of Principal Financial Group from $68.00 to $69.00 and gave the stock an "underweight" rating in a research report on Tuesday, April 29th. Barclays reduced their price target on shares of 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 shares of 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. Finally, Piper Sandler raised 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. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $83.85.

Principal Financial Group Trading Down 0.3%

NYSE:PFG opened at $81.30 on Tuesday. Principal Financial Group, Inc. has a 12 month low of $68.39 and a 12 month high of $91.98. The firm has a market cap of $18.23 billion, a price-to-earnings ratio of 12.17, a P/E/G ratio of 0.76 and a beta of 1.01. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The company's 50 day moving average is $78.06 and its 200-day moving average is $81.07.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The company reported $1.81 EPS for the quarter, missing analysts' consensus estimates 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 prior year, the business posted $1.65 earnings per share. Equities analysts anticipate that Principal Financial Group, Inc. will post 8.5 EPS for the current 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 given a $0.76 dividend. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.74%. Principal Financial Group's dividend payout ratio (DPR) is currently 65.10%.

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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