Public Employees Retirement System of Ohio Trims Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Public Employees Retirement System of Ohio lessened its stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 6.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 77,960 shares of the company's stock after selling 5,493 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Principal Financial Group were worth $6,035,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Curio Wealth LLC bought a new stake in Principal Financial Group in the 4th quarter worth approximately $29,000. BankPlus Trust Department bought a new stake in Principal Financial Group in the fourth quarter valued at approximately $33,000. Navigoe LLC bought a new stake in Principal Financial Group in the fourth quarter valued at approximately $37,000. Covestor Ltd increased its stake in shares of Principal Financial Group by 144.3% during the fourth quarter. Covestor Ltd now owns 540 shares of the company's stock valued at $42,000 after buying an additional 319 shares during the period. Finally, Golden State Wealth Management LLC purchased a new position in shares of Principal Financial Group during the fourth quarter valued at approximately $46,000. Institutional investors own 75.08% of the company's stock.

Principal Financial Group Price Performance

NYSE PFG traded down $0.52 during trading on Friday, hitting $78.03. 1,960,651 shares of the stock traded hands, compared to its average volume of 1,326,675. The company has a market capitalization of $17.49 billion, a P/E ratio of 11.68, a price-to-earnings-growth ratio of 0.76 and a beta of 1.01. The firm has a 50-day simple moving average of $77.20 and a 200-day simple moving average of $80.75. 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, Inc. has a 12-month low of $68.39 and a 12-month high of $91.98.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The company reported $1.81 earnings per share 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 period in the previous year, the firm posted $1.65 EPS. As a group, analysts predict that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be issued a $0.76 dividend. This is a boost 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 3.90%. Principal Financial Group's payout ratio is 65.10%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PFG. Piper Sandler lifted their price objective on Principal Financial Group from $93.00 to $95.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. UBS Group lowered their price target on Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Morgan Stanley upped their price target on Principal Financial Group from $67.00 to $71.00 and gave the company an "underweight" rating in a report on Monday, May 19th. Keefe, Bruyette & Woods increased their target price on Principal Financial Group from $86.00 to $87.00 and gave the company a "market perform" rating in a report on Wednesday, May 7th. Finally, Wells Fargo & Company increased their target price on Principal Financial Group from $68.00 to $69.00 and gave the company an "underweight" rating in a report on Tuesday, April 29th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Principal Financial Group currently 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.