Siemens Fonds Invest GmbH Sells 20,378 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Siemens Fonds Invest GmbH reduced its position in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 84.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,661 shares of the company's stock after selling 20,378 shares during the quarter. Siemens Fonds Invest GmbH's holdings in Principal Financial Group were worth $283,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Curio Wealth LLC purchased a new position in Principal Financial Group in the 4th quarter worth approximately $29,000. BankPlus Trust Department bought a new position in Principal Financial Group in the 4th quarter worth $33,000. Ameriflex Group Inc. bought a new position in Principal Financial Group in the 4th quarter worth $37,000. Navigoe LLC bought a new position in Principal Financial Group in the 4th quarter worth $37,000. Finally, Covestor Ltd grew its position in shares of Principal Financial Group by 144.3% in the 4th quarter. Covestor Ltd now owns 540 shares of the company's stock worth $42,000 after buying an additional 319 shares during the period. Institutional investors own 75.08% of the company's stock.

Principal Financial Group Stock Performance

Shares of NYSE:PFG traded down $0.52 during trading on Friday, hitting $78.03. 1,960,651 shares of the stock were exchanged, compared to its average volume of 1,326,446. The company's fifty day simple moving average is $77.05 and its 200-day simple moving average is $80.69. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29. The company has a market capitalization of $17.49 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 0.76 and a beta of 1.01. Principal Financial Group, Inc. has a 1-year low of $68.39 and a 1-year high of $91.98.

Principal Financial Group (NYSE:PFG - Get Free Report) last released its quarterly earnings data 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 return on equity of 14.68% and a net margin of 9.74%. During the same quarter in the prior year, the business posted $1.65 EPS. Sell-side analysts expect that Principal Financial Group, Inc. will post 8.5 EPS 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. Investors of record on Monday, June 2nd will be paid a $0.76 dividend. 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 annualized dividend and a yield of 3.90%. Principal Financial Group's payout ratio is 65.10%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PFG. Wells Fargo & Company upped their target price on shares of Principal Financial Group from $68.00 to $69.00 and gave the company an "underweight" rating in a research note on Tuesday, April 29th. UBS Group reduced their price objective on shares of Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Keefe, Bruyette & Woods lifted their price objective on shares of Principal Financial Group from $86.00 to $87.00 and gave the stock a "market perform" rating in a research note on Wednesday, May 7th. Morgan Stanley lifted their price objective on Principal Financial Group from $67.00 to $71.00 and gave the company an "underweight" rating in a report on Monday, May 19th. Finally, Piper Sandler boosted their price target on Principal Financial Group from $93.00 to $95.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. 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 assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $83.85.

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.