Hsbc Holdings PLC Has $111.23 Million Position in Principal Financial Group, Inc. (NYSE:PFG)

Hsbc Holdings PLC lessened its position in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,436,859 shares of the company's stock after selling 17,108 shares during the quarter. Hsbc Holdings PLC owned about 0.63% of Principal Financial Group worth $111,234,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Curio Wealth LLC bought a new position in shares of Principal Financial Group during the 4th quarter worth about $29,000. BankPlus Trust Department bought a new stake in Principal Financial Group during the fourth quarter worth about $33,000. Covestor Ltd increased its holdings in Principal Financial Group by 144.3% during the 4th quarter. Covestor Ltd now owns 540 shares of the company's stock valued at $42,000 after purchasing an additional 319 shares in the last quarter. Sugarloaf Wealth Management LLC boosted its stake in Principal Financial Group by 53.6% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 559 shares of the company's stock worth $43,000 after purchasing an additional 195 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in shares of Principal Financial Group during the fourth quarter worth $46,000. Institutional investors and hedge funds own 75.08% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on PFG. Royal Bank of Canada reiterated a "sector perform" rating and set a $91.00 price target on shares of Principal Financial Group in a research report on Thursday, January 16th. BMO Capital Markets started coverage on shares of Principal Financial Group in a research note on Thursday, January 23rd. They set a "market perform" rating and a $93.00 price target for the company. UBS Group dropped their price objective on Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating for the company in a report on Tuesday. JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a "neutral" rating to an "overweight" rating and decreased their price objective for the company from $95.00 to $92.00 in a report on Tuesday, January 7th. Finally, Barclays dropped their price target on Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating on the stock in a research report on Friday, April 11th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Principal Financial Group has an average rating of "Hold" and a consensus target price of $83.31.

Principal Financial Group Stock Up 0.8 %

NYSE PFG traded up $0.57 during trading hours on Tuesday, hitting $74.44. 410,659 shares of the company traded hands, compared to its average volume of 1,294,263. The stock has a market capitalization of $16.75 billion, a price-to-earnings ratio of 11.14, a P/E/G ratio of 0.76 and a beta of 1.01. Principal Financial Group, Inc. has a twelve month low of $68.39 and a twelve month high of $91.98. The business's 50-day moving average is $80.25 and its 200-day moving average is $82.02. 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 issued its earnings results 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 firm earned $1.65 earnings per share. Sell-side analysts anticipate that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business 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 dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 4.08%. 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. Principal Financial Group's payout ratio is 65.10%.

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.