Mercer Global Advisors Inc. ADV Sells 3,637 Shares of Principal Financial Group, Inc. (NYSE:PFG)

Mercer Global Advisors Inc. ADV cut its stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 15.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,794 shares of the company's stock after selling 3,637 shares during the period. Mercer Global Advisors Inc. ADV's holdings in Principal Financial Group were worth $1,532,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Curio Wealth LLC acquired a new stake in Principal Financial Group in the fourth quarter valued at about $29,000. BankPlus Trust Department acquired a new stake in shares of Principal Financial Group in the fourth quarter valued at approximately $33,000. Navigoe LLC purchased a new position in Principal Financial Group during the fourth quarter worth $37,000. Covestor Ltd raised its stake in Principal Financial Group by 144.3% in the 4th 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, Sugarloaf Wealth Management LLC increased 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 valued at $43,000 after purchasing an additional 195 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company's stock.

Principal Financial Group Stock Down 0.6%

Shares of PFG stock traded down $0.52 during trading on Wednesday, hitting $81.18. 231,687 shares of the company were exchanged, compared to its average volume of 1,313,277. The business's 50-day simple moving average is $78.24 and its 200 day simple moving average is $81.15. The firm has a market capitalization of $18.20 billion, a price-to-earnings ratio of 12.15, 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 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 released its quarterly earnings results on Monday, April 28th. The company reported $1.81 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 business posted $1.65 earnings per share. As a group, analysts forecast that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm 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 is an increase from Principal Financial Group's previous quarterly dividend of $0.75. The ex-dividend date is Monday, June 2nd. This represents a $3.04 annualized dividend and a yield of 3.74%. Principal Financial Group's payout ratio is presently 65.10%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Keefe, Bruyette & Woods raised their price objective on 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. 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 objective on the stock. 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 note on Wednesday, April 2nd. UBS Group reduced their price objective on shares of Principal Financial Group from $93.00 to $80.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Finally, Wells Fargo & Company lifted their price target on Principal Financial Group from $68.00 to $69.00 and gave the company an "underweight" rating in a research report on Tuesday, April 29th. 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, the company has a consensus rating of "Hold" and an average target price of $83.54.

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.