Principal Financial Group, Inc. (NYSE:PFG) Shares Sold by Utah Retirement Systems

Utah Retirement Systems reduced its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 0.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 37,713 shares of the company’s stock after selling 300 shares during the quarter. Utah Retirement Systems’ holdings in Principal Financial Group were worth $2,919,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PFG. Curio Wealth LLC acquired a new position in shares of Principal Financial Group during the 4th quarter valued at about $29,000. BankPlus Trust Department acquired a new position in Principal Financial Group during the fourth quarter worth approximately $33,000. Covestor Ltd raised its stake in Principal Financial Group by 144.3% during the fourth quarter. Covestor Ltd now owns 540 shares of the company’s stock worth $42,000 after purchasing an additional 319 shares during the period. Sugarloaf Wealth Management LLC boosted its holdings in shares of Principal Financial Group by 53.6% in the 4th 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. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Principal Financial Group during the 4th quarter valued at $46,000. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. UBS Group reduced their target price on Principal Financial Group from $93.00 to $80.00 and set a “neutral” rating on the stock in a report on Tuesday. Morgan Stanley reduced their price objective 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. Royal Bank of Canada restated a “sector perform” rating and issued a $91.00 price target on shares of Principal Financial Group in a report on Thursday, January 16th. Wells Fargo & Company boosted their price objective on shares of Principal Financial Group from $68.00 to $69.00 and gave the stock an “underweight” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and reduced their target price for the company from $95.00 to $92.00 in a report on Tuesday, January 7th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $83.31.

Principal Financial Group Stock Down 0.1 %

Shares of NYSE PFG opened at $74.07 on Friday. 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, Inc. has a 1 year low of $68.39 and a 1 year high of $91.98. The stock’s 50-day simple moving average is $79.59 and its 200-day simple moving average is $81.81. The firm has a market cap of $16.66 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 0.76 and a beta of 1.01.

Principal Financial Group (NYSE:PFG) last announced 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 period last year, the business earned $1.65 earnings per share. As a group, equities analysts anticipate that Principal Financial Group, Inc. will post 8.5 earnings per share for the current fiscal 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 issued a dividend of $0.76 per share. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.75. This represents a $3.04 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend is Monday, June 2nd. Principal Financial Group’s dividend payout ratio (DPR) is currently 65.10%.

Principal Financial Group 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.