Principal Financial Group, Inc. $PFG Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC trimmed its position in shares of Principal Financial Group, Inc. (NYSE:PFG) by 1.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 109,037 shares of the company’s stock after selling 1,322 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Principal Financial Group were worth $8,661,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of Principal Financial Group during the 2nd quarter worth $25,000. American National Bank & Trust purchased a new stake in Principal Financial Group during the 2nd quarter worth $28,000. von Borstel & Associates Inc. purchased a new stake in Principal Financial Group during the 1st quarter worth $32,000. Private Wealth Asset Management LLC boosted its position in Principal Financial Group by 163.4% during the 2nd quarter. Private Wealth Asset Management LLC now owns 403 shares of the company’s stock worth $32,000 after purchasing an additional 250 shares during the period. Finally, Zions Bancorporation National Association UT purchased a new stake in Principal Financial Group during the 1st quarter worth $34,000. 75.08% of the stock is currently owned by institutional investors and hedge funds.

Principal Financial Group Stock Performance

NYSE:PFG opened at $78.63 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.30. The firm has a 50-day moving average of $80.73 and a two-hundred day moving average of $78.46. The stock has a market cap of $17.52 billion, a P/E ratio of 11.77, a PEG ratio of 0.76 and a beta of 1.03. Principal Financial Group, Inc. has a 1-year low of $68.39 and a 1-year high of $91.40.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings data on Monday, July 28th. The company reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.19. Principal Financial Group had a net margin of 9.74% and a return on equity of 14.68%. During the same period in the previous year, the company posted $1.63 earnings per share. On average, research analysts expect 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 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. 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. This represents a $3.12 annualized dividend and a dividend yield of 4.0%. Principal Financial Group’s dividend payout ratio is 62.78%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PFG. Barclays upped their price target on shares of Principal Financial Group from $80.00 to $83.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 8th. Wells Fargo & Company upped their price target on shares of Principal Financial Group from $72.00 to $73.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods upped their price target on shares of Principal Financial Group from $88.00 to $90.00 and gave the stock a “market perform” rating in a research report on Thursday, October 9th. JPMorgan Chase & Co. upped their price target on shares of Principal Financial Group from $92.00 to $101.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Finally, Morgan Stanley upped their price objective on shares of Principal Financial Group from $77.00 to $80.00 and gave the company an “underweight” rating in a research report on Tuesday, October 7th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Principal Financial Group currently has an average rating of “Reduce” and an average target price of $88.60.

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.