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

Siemens Fonds Invest GmbH trimmed its stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 84.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Curio Wealth LLC bought a new position in Principal Financial Group during the fourth quarter worth $29,000. BankPlus Trust Department bought a new stake in shares of Principal Financial Group in the 4th quarter worth approximately $33,000. Navigoe LLC bought a new stake in Principal Financial Group during the 4th quarter valued at $37,000. Covestor Ltd raised its holdings in 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 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 4th quarter worth about $46,000. 75.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PFG shares. Barclays lowered their price objective on shares of 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. UBS Group reduced their price target 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 boosted their target price on shares of Principal Financial Group from $86.00 to $87.00 and gave the company a "market perform" rating in a research note on Wednesday, May 7th. Morgan Stanley upped their price objective on shares of Principal Financial Group from $67.00 to $71.00 and gave the stock an "underweight" rating in a research note on Monday. Finally, Piper Sandler upped their price objective on shares of Principal Financial Group from $93.00 to $95.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. 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 given a strong buy rating to the company's stock. According to MarketBeat, Principal Financial Group presently has a consensus rating of "Hold" and an average price target of $83.85.

Principal Financial Group Stock Performance

Principal Financial Group stock traded down $3.17 during mid-day trading on Wednesday, hitting $77.36. 1,040,347 shares of the company's stock traded hands, compared to its average volume of 1,322,119. Principal Financial Group, Inc. has a one year low of $68.39 and a one year high of $91.98. 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 firm has a 50 day moving average price of $77.96 and a 200 day moving average price of $81.04. The company has a market cap of $17.34 billion, a PE ratio of 11.58, a price-to-earnings-growth 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 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 period in the prior year, the company earned $1.65 earnings per share. On average, equities 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 disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 3.93%. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.75. The ex-dividend date is Monday, June 2nd. Principal Financial Group's dividend payout ratio (DPR) is presently 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.