Yousif Capital Management LLC Decreases Stock Holdings in Principal Financial Group, Inc. $PFG

Yousif Capital Management LLC trimmed its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 1.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,241 shares of the company’s stock after selling 466 shares during the period. Yousif Capital Management LLC’s holdings in Principal Financial Group were worth $2,243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of Principal Financial Group during the 2nd quarter worth approximately $25,000. American National Bank & Trust purchased a new stake in shares of Principal Financial Group during the 2nd quarter worth approximately $28,000. von Borstel & Associates Inc. purchased a new stake in shares of Principal Financial Group during the 1st quarter worth approximately $32,000. Zions Bancorporation National Association UT purchased a new stake in shares of Principal Financial Group during the 1st quarter worth approximately $34,000. Finally, GKV Capital Management Co. Inc. purchased a new stake in Principal Financial Group during the 1st quarter valued at $45,000. 75.08% of the stock is owned by hedge funds and other institutional investors.

Principal Financial Group Stock Performance

Shares of Principal Financial Group stock opened at $78.63 on Friday. The stock’s fifty day moving average is $80.73 and its two-hundred day moving average is $78.47. The company has a market capitalization of $17.52 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 0.76 and a beta of 1.03. 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, Inc. has a 52 week low of $68.39 and a 52 week high of $91.40.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Monday, July 28th. The company reported $2.16 EPS for the quarter, beating the consensus estimate of $1.97 by $0.19. 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 $1.63 EPS. As a group, analysts expect that Principal Financial Group, Inc. will post 8.5 earnings per share for the current year.

Principal Financial Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Thursday, September 4th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Thursday, September 4th. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.76. Principal Financial Group’s dividend payout ratio is currently 62.78%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PFG. Piper Sandler set a $94.00 price target on Principal Financial Group and gave the company an “overweight” rating in a report on Tuesday, October 7th. Keefe, Bruyette & Woods increased their price target on Principal Financial Group from $88.00 to $90.00 and gave the company a “market perform” rating in a report on Thursday, October 9th. Barclays increased their price target on Principal Financial Group from $80.00 to $83.00 and gave the company an “underweight” rating in a report on Wednesday, October 8th. UBS Group increased their price target on Principal Financial Group from $85.00 to $87.00 and gave the company a “neutral” rating in a report on Tuesday, July 29th. Finally, Wells Fargo & Company increased their price target on Principal Financial Group from $72.00 to $73.00 and gave the company an “underweight” rating in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $88.60.

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.