Illinois Municipal Retirement Fund Has $7.93 Million Stock Holdings in Principal Financial Group, Inc. $PFG

Illinois Municipal Retirement Fund lowered its stake in Principal Financial Group, Inc. (NYSE:PFG) by 17.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,778 shares of the company’s stock after selling 20,968 shares during the period. Illinois Municipal Retirement Fund’s holdings in Principal Financial Group were worth $7,925,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Oliver Lagore Vanvalin Investment Group bought a new position in shares of Principal Financial Group in the 2nd quarter valued at $25,000. American National Bank & Trust bought a new stake in Principal Financial Group during the 2nd quarter worth $28,000. Curio Wealth LLC increased its holdings in Principal Financial Group by 37,800.0% in the 2nd quarter. Curio Wealth LLC now owns 379 shares of the company’s stock worth $30,000 after purchasing an additional 378 shares in the last quarter. Private Wealth Asset Management LLC raised its position in Principal Financial Group by 163.4% in the second quarter. Private Wealth Asset Management LLC now owns 403 shares of the company’s stock valued at $32,000 after purchasing an additional 250 shares during the last quarter. Finally, Zions Bancorporation National Association UT bought a new position in Principal Financial Group in the first quarter valued at about $34,000. Institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Up 1.0%

Shares of NYSE PFG opened at $84.38 on Wednesday. The company has a quick ratio of 0.30, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. The firm has a market cap of $18.80 billion, a PE ratio of 12.63, a P/E/G ratio of 0.76 and a beta of 1.02. The company’s fifty day simple moving average is $81.57 and its 200 day simple moving average is $79.55. Principal Financial Group, Inc. has a 12-month low of $68.39 and a 12-month high of $90.31.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings data on Monday, October 27th. The company reported $2.32 earnings per share for the quarter, beating 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 quarter last year, the company earned $2.05 EPS. As a group, sell-side analysts forecast that Principal Financial Group, Inc. will post 8.5 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

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

Analysts Set New Price Targets

Several research firms have recently weighed in on PFG. Barclays boosted their price target on Principal Financial Group from $80.00 to $83.00 and gave the stock an “underweight” rating in a report on Wednesday, October 8th. Evercore ISI boosted their target price on shares of Principal Financial Group from $92.00 to $94.00 and gave the stock an “in-line” rating in a report on Thursday, October 9th. Piper Sandler set a $94.00 price target on shares of Principal Financial Group and gave the company an “overweight” rating in a research report on Tuesday, October 7th. Keefe, Bruyette & Woods raised their price target on shares of Principal Financial Group from $90.00 to $91.00 and gave the company a “market perform” rating in a research note on Thursday, October 30th. Finally, Morgan Stanley raised shares of Principal Financial Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $80.00 to $81.00 in a research note on Thursday, October 23rd. Two 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. Based on data from MarketBeat.com, Principal Financial Group has a consensus rating of “Hold” and an average target price of $88.90.

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.