Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC decreased its holdings in Principal Financial Group, Inc. (NYSE:PFG - Free Report) by 8.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,201 shares of the company's stock after selling 5,811 shares during the period. Voya Investment Management LLC's holdings in Principal Financial Group were worth $4,815,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of PFG. Barclays PLC lifted its stake in shares of Principal Financial Group by 12.3% during the 3rd quarter. Barclays PLC now owns 806,672 shares of the company's stock worth $69,293,000 after purchasing an additional 88,179 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Principal Financial Group in the 3rd quarter worth approximately $114,000. Synovus Financial Corp bought a new position in shares of Principal Financial Group during the 3rd quarter worth approximately $281,000. Franklin Resources Inc. lifted its position in Principal Financial Group by 16.4% during the third quarter. Franklin Resources Inc. now owns 84,378 shares of the company's stock valued at $7,570,000 after acquiring an additional 11,868 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Principal Financial Group by 3.0% in the third quarter. Principal Financial Group Inc. now owns 231,277 shares of the company's stock valued at $19,867,000 after acquiring an additional 6,817 shares in the last quarter. Hedge funds and other institutional investors own 75.08% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Piper Sandler raised their price objective on Principal Financial Group from $93.00 to $95.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Morgan Stanley dropped their price target on Principal Financial Group from $77.00 to $65.00 and set an "underweight" rating on the stock in a research note on Thursday, April 10th. UBS Group decreased 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 research report on Tuesday, April 29th. Barclays dropped their target price on shares of 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. Finally, JPMorgan Chase & Co. raised shares of Principal Financial Group from a "neutral" rating to an "overweight" rating and decreased their price target for the stock from $95.00 to $92.00 in a report on Tuesday, January 7th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $83.31.

Principal Financial Group Stock Performance

PFG stock traded up $0.18 during trading on Monday, hitting $77.01. 432,670 shares of the company traded hands, compared to its average volume of 1,306,370. Principal Financial Group, Inc. has a 1 year low of $68.39 and a 1 year high of $91.98. The company has a market cap of $17.26 billion, a PE ratio of 11.54, a P/E/G ratio of 0.76 and a beta of 1.01. The stock's 50-day simple moving average is $79.42 and its 200 day simple moving average is $81.59. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30.

Principal Financial Group (NYSE:PFG - Get Free Report) last posted its earnings results on Monday, April 28th. The company reported $1.81 earnings per share 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 in the previous year, the business earned $1.65 EPS. On average, equities analysts expect that Principal Financial Group, Inc. will post 8.5 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend is Monday, June 2nd. This is a positive change from Principal Financial Group's previous quarterly dividend of $0.75. Principal Financial Group's payout ratio is currently 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.