Siemens Fonds Invest GmbH Decreases Stock Position in Principal Financial Group, Inc. (NYSE:PFG)

Siemens Fonds Invest GmbH trimmed its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 84.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,661 shares of the company's stock after selling 20,378 shares during the period. Siemens Fonds Invest GmbH's holdings in Principal Financial Group were worth $283,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Leavell Investment Management Inc. lifted its holdings in shares of Principal Financial Group by 5.4% during the fourth quarter. Leavell Investment Management Inc. now owns 2,693 shares of the company's stock valued at $208,000 after purchasing an additional 138 shares during the last quarter. CENTRAL TRUST Co increased its position in shares of Principal Financial Group by 9.6% during the fourth quarter. CENTRAL TRUST Co now owns 1,730 shares of the company's stock valued at $134,000 after acquiring an additional 151 shares in the last quarter. Cidel Asset Management Inc. increased its position in shares of Principal Financial Group by 6.3% during the fourth quarter. Cidel Asset Management Inc. now owns 2,636 shares of the company's stock valued at $204,000 after acquiring an additional 156 shares in the last quarter. Hartford Funds Management Co LLC increased its position in shares of Principal Financial Group by 1.5% during the fourth quarter. Hartford Funds Management Co LLC now owns 11,241 shares of the company's stock valued at $870,000 after acquiring an additional 161 shares in the last quarter. Finally, Argent Trust Co increased its position in shares of Principal Financial Group by 0.6% during the fourth quarter. Argent Trust Co now owns 29,345 shares of the company's stock valued at $2,272,000 after acquiring an additional 161 shares in the last quarter. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PFG has been the subject of several analyst reports. Wells Fargo & Company raised their price target on shares of Principal Financial Group from $68.00 to $69.00 and gave the company an "underweight" rating in a research report on Tuesday, April 29th. Morgan Stanley raised their price target on shares of Principal Financial Group from $67.00 to $71.00 and gave the company an "underweight" rating in a research report on Monday, May 19th. Piper Sandler raised 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. Keefe, Bruyette & Woods raised their price target on shares of Principal Financial Group from $86.00 to $87.00 and gave the company a "market perform" rating in a research report on Wednesday, May 7th. Finally, 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. Four analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $83.85.

Principal Financial Group Stock Performance

NYSE:PFG traded down $0.34 during trading hours on Friday, reaching $77.01. The company had a trading volume of 846,029 shares, compared to its average volume of 1,323,696. Principal Financial Group, Inc. has a 52 week low of $68.39 and a 52 week high of $91.98. The firm's 50 day moving average price is $77.70 and its 200-day moving average price is $80.94. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The firm has a market cap of $17.26 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 0.76 and a beta of 1.01.

Principal Financial Group (NYSE:PFG - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The company reported $1.81 earnings per share (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 company posted $1.65 EPS. On average, analysts forecast that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

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

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.