Jump Financial LLC Trims Position in Principal Financial Group, Inc. (NYSE:PFG)

Jump Financial LLC cut its stake in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 72.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,672 shares of the company's stock after selling 24,832 shares during the quarter. Jump Financial LLC's holdings in Principal Financial Group were worth $749,000 as of its most recent SEC filing.

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

Principal Financial Group Stock Performance

Shares of PFG stock traded up $0.41 during mid-day trading on Monday, hitting $73.87. The stock had a trading volume of 1,811,578 shares, compared to its average volume of 1,297,709. Principal Financial Group, Inc. has a fifty-two week low of $68.39 and a fifty-two week high of $91.98. The firm has a market cap of $16.62 billion, a PE ratio of 11.06, a PEG ratio of 0.76 and a beta of 1.01. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The company's 50-day simple moving average is $80.25 and its 200-day simple moving average is $82.02.

Principal Financial Group (NYSE:PFG - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The company reported $1.81 EPS for the quarter, missing the consensus estimate 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 last year, the firm posted $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 firm also recently announced 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. The ex-dividend date is Monday, June 2nd. This represents a $3.04 dividend on an annualized basis and a yield of 4.12%. This is a boost from Principal Financial Group's previous quarterly dividend of $0.75. Principal Financial Group's payout ratio is presently 65.10%.

Analysts Set New Price Targets

A number of analysts recently issued reports on PFG shares. JPMorgan Chase & Co. raised Principal Financial Group from a "neutral" rating to an "overweight" rating and cut their price objective for the stock from $95.00 to $92.00 in a research report on Tuesday, January 7th. UBS Group raised their price objective on Principal Financial Group from $87.00 to $93.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods raised their target price on Principal Financial Group from $90.00 to $92.00 and gave the company a "market perform" rating in a report on Wednesday, February 12th. Barclays lowered their target price on Principal Financial Group from $80.00 to $76.00 and set an "underweight" rating for the company in a report on Friday, April 11th. Finally, Morgan Stanley lowered their target price on Principal Financial Group from $77.00 to $65.00 and set an "underweight" rating for the company in a report on Thursday, April 10th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $84.69.

About Principal Financial Group

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.