Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by West Financial Advisors LLC

West Financial Advisors LLC trimmed its position in Principal Financial Group, Inc. (NYSE:PFG) by 23.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,870 shares of the company’s stock after selling 579 shares during the period. West Financial Advisors LLC’s holdings in Principal Financial Group were worth $145,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Metis Global Partners LLC increased its holdings in Principal Financial Group by 5.0% in the third quarter. Metis Global Partners LLC now owns 11,230 shares of the company’s stock valued at $965,000 after buying an additional 533 shares during the last quarter. Sanctuary Advisors LLC boosted its position in shares of Principal Financial Group by 66.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 24,932 shares of the company’s stock worth $2,137,000 after acquiring an additional 9,933 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of Principal Financial Group by 27.1% in the 2nd quarter. Intech Investment Management LLC now owns 298,562 shares of the company’s stock valued at $23,422,000 after acquiring an additional 63,747 shares during the last quarter. Empowered Funds LLC raised its position in shares of Principal Financial Group by 358.7% during the 3rd quarter. Empowered Funds LLC now owns 16,328 shares of the company’s stock worth $1,403,000 after acquiring an additional 12,768 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Principal Financial Group during the third quarter worth approximately $2,441,000. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Stock Performance

NYSE PFG opened at $80.08 on Thursday. The business’s 50-day moving average price is $81.64 and its 200 day moving average price is $82.16. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. The firm has a market cap of $18.32 billion, a P/E ratio of 11.11, a P/E/G ratio of 0.75 and a beta of 1.22. Principal Financial Group, Inc. has a 52-week low of $72.21 and a 52-week high of $91.97.

Principal Financial Group (NYSE:PFG) last released its earnings results on Thursday, October 24th. The company reported $1.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.26). Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. The firm had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the firm earned $1.72 earnings per share. On average, equities research analysts expect that Principal Financial Group, Inc. will post 7.01 earnings per share for the current year.

Principal Financial Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 2nd were issued a dividend of $0.73 per share. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.72. This represents a $2.92 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend was Monday, December 2nd. Principal Financial Group’s dividend payout ratio (DPR) is currently -324.44%.

Analysts Set New Price Targets

Several equities analysts have commented on PFG shares. Barclays increased their price target on shares of Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. raised shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and dropped their target price for the company from $95.00 to $92.00 in a research report on Tuesday, January 7th. Piper Sandler upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 price target on the stock in a research note on Wednesday, December 18th. Morgan Stanley restated an “underweight” rating and issued a $80.00 price objective (down previously from $86.00) on shares of Principal Financial Group in a research note on Thursday, December 5th. Finally, Bank of America cut their target price on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Four analysts have rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $84.25.

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.