Worldquant Millennium Advisors LLC Sells 4,291 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Worldquant Millennium Advisors LLC trimmed its stake in shares of Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 3.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 136,540 shares of the company's stock after selling 4,291 shares during the period. Worldquant Millennium Advisors LLC owned approximately 0.06% of Principal Financial Group worth $10,570,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in PFG. Curio Wealth LLC purchased a new position in shares of Principal Financial Group during the fourth quarter valued at approximately $29,000. BankPlus Trust Department purchased a new position in shares of Principal Financial Group during the fourth quarter valued at approximately $33,000. Navigoe LLC purchased a new position in shares of Principal Financial Group during the fourth quarter valued at approximately $37,000. Covestor Ltd raised its holdings 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 purchasing an additional 319 shares during the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in Principal Financial Group during the fourth quarter valued at approximately $46,000. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Price Performance

Shares of PFG traded down $0.34 during mid-day trading on Friday, reaching $77.01. The stock had a trading volume of 846,029 shares, compared to its average volume of 1,323,696. 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, Inc. has a 12 month low of $68.39 and a 12 month high of $91.98. The business has a fifty day moving average of $77.70 and a 200 day moving average of $80.97. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.30 and a current ratio of 0.29.

Principal Financial Group (NYSE:PFG - Get Free Report) last posted its quarterly earnings results 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 return on equity of 14.68% and a net margin of 9.74%. During the same quarter in the prior year, the business earned $1.65 earnings per share. Equities 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. Investors of record on Monday, June 2nd will be given a dividend of $0.76 per share. 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 3.95%. Principal Financial Group's dividend payout ratio is currently 65.10%.

Analysts Set New Price Targets

Several analysts recently issued reports on PFG shares. Wells Fargo & Company boosted 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 report on Tuesday, April 29th. Morgan Stanley boosted their target price 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. Barclays cut their target price 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. 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 report on Wednesday, May 7th. Finally, Piper Sandler boosted their target price 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 equities research 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. Based on data from MarketBeat, Principal Financial Group 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.