Entropy Technologies LP Has $2.28 Million Stock Position in Principal Financial Group, Inc. $PFG

Entropy Technologies LP reduced its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 24.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 28,660 shares of the company’s stock after selling 9,133 shares during the quarter. Entropy Technologies LP’s holdings in Principal Financial Group were worth $2,276,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Goldman Sachs Group Inc. grew its position in shares of Principal Financial Group by 114.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,613,143 shares of the company’s stock worth $220,471,000 after buying an additional 1,393,008 shares during the period. Nuveen LLC acquired a new stake in Principal Financial Group in the first quarter worth $47,986,000. AQR Capital Management LLC increased its stake in Principal Financial Group by 443.6% in the first quarter. AQR Capital Management LLC now owns 645,431 shares of the company’s stock valued at $53,597,000 after purchasing an additional 526,701 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Principal Financial Group by 88.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 291,979 shares of the company’s stock valued at $24,634,000 after purchasing an additional 137,445 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in shares of Principal Financial Group by 28.7% during the 1st quarter. BNP Paribas Financial Markets now owns 604,121 shares of the company’s stock worth $50,970,000 after purchasing an additional 134,697 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors.

Principal Financial Group Trading Up 2.3%

NYSE PFG opened at $84.29 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. The business has a fifty day simple moving average of $81.99 and a 200 day simple moving average of $79.95. Principal Financial Group, Inc. has a 12 month low of $68.39 and a 12 month high of $90.31. The firm has a market capitalization of $18.78 billion, a P/E ratio of 12.62, a PEG ratio of 0.76 and a beta of 1.02.

Principal Financial Group (NYSE:PFG) last posted its earnings results on Monday, October 27th. The company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.12. 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 posted $2.05 earnings per share. On average, analysts predict that Principal Financial Group, Inc. will post 8.5 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Wednesday, December 3rd will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Wednesday, December 3rd. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.78. Principal Financial Group’s payout ratio is currently 46.00%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PFG. Piper Sandler set a $94.00 target price on Principal Financial Group and gave the company an “overweight” rating in a research report on Tuesday, October 7th. Evercore ISI upped their target price on Principal Financial Group from $92.00 to $94.00 and gave the stock an “in-line” rating in a research report on Thursday, October 9th. UBS Group lifted their price target on shares of Principal Financial Group from $85.00 to $87.00 and gave the company a “neutral” rating in a research report on Tuesday, July 29th. Morgan Stanley upgraded shares of Principal Financial Group from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $80.00 to $81.00 in a research note on Thursday, October 23rd. Finally, Wells Fargo & Company raised their price objective on shares of Principal Financial Group from $73.00 to $74.00 and gave the company an “underweight” rating in a research note on Wednesday, October 29th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $88.90.

Insider Activity at Principal Financial Group

In other Principal Financial Group news, EVP Wee Yee Cheong sold 1,887 shares of Principal Financial Group stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $85.04, for a total transaction of $160,470.48. Following the transaction, the executive vice president owned 81,421 shares of the company’s stock, valued at $6,924,041.84. This trade represents a 2.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.08% of the stock is currently owned by corporate insiders.

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.