Mn Services Vermogensbeheer B.V. Decreases Stake in Principal Financial Group, Inc. (NYSE:PFG)

Mn Services Vermogensbeheer B.V. cut its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 7.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,280 shares of the company’s stock after selling 6,700 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Principal Financial Group were worth $7,279,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in Principal Financial Group by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 5,466,587 shares of the company’s stock valued at $422,074,000 after purchasing an additional 52,410 shares during the period. Northern Trust Corp raised its position in Principal Financial Group by 9.8% during the fourth quarter. Northern Trust Corp now owns 3,662,918 shares of the company’s stock valued at $283,546,000 after purchasing an additional 326,604 shares during the period. Norges Bank purchased a new stake in Principal Financial Group during the fourth quarter valued at approximately $217,021,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Principal Financial Group by 12.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,877,246 shares of the company’s stock valued at $145,318,000 after purchasing an additional 209,885 shares during the period. Finally, Deutsche Bank AG raised its position in Principal Financial Group by 73.5% during the fourth quarter. Deutsche Bank AG now owns 1,482,053 shares of the company’s stock valued at $114,726,000 after purchasing an additional 627,865 shares during the period. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PFG. Morgan Stanley upped their price objective on Principal Financial Group from $67.00 to $71.00 and gave the company an “underweight” rating in a research report on Monday, May 19th. Piper Sandler upped their price objective on Principal Financial Group from $93.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, April 2nd. Barclays reduced their price target on Principal Financial Group from $80.00 to $76.00 and set an “underweight” rating on the stock in a report on Friday, April 11th. Wells Fargo & Company increased their price target on Principal Financial Group from $68.00 to $69.00 and gave the stock an “underweight” rating in a report on Tuesday, April 29th. Finally, UBS Group reduced their price target on Principal Financial Group from $93.00 to $80.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $83.85.

Principal Financial Group Stock Up 1.1%

Shares of NYSE:PFG opened at $76.73 on Tuesday. Principal Financial Group, Inc. has a 52-week low of $68.39 and a 52-week high of $91.98. The stock has a market cap of $17.20 billion, a P/E ratio of 11.49, a price-to-earnings-growth ratio of 0.76 and a beta of 1.00. The business’s 50 day moving average is $76.47 and its 200 day moving average is $79.88. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Monday, April 28th. The company reported $1.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.83 by ($0.02). Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%. During the same period in the prior year, the firm posted $1.65 earnings per share. Sell-side analysts predict that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Monday, June 2nd. This represents a $3.04 annualized dividend and a yield of 3.96%. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.75. Principal Financial Group’s dividend payout ratio is 65.10%.

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.