Principal Financial Group, Inc. $PFG Shares Sold by Montag A & Associates Inc.

Montag A & Associates Inc. lessened its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 13.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,065 shares of the company’s stock after selling 2,127 shares during the quarter. Montag A & Associates Inc.’s holdings in Principal Financial Group were worth $1,117,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of Principal Financial Group in the second quarter valued at $25,000. American National Bank & Trust purchased a new position in shares of Principal Financial Group in the 2nd quarter valued at about $28,000. Curio Wealth LLC grew its position in shares of Principal Financial Group by 37,800.0% during the second quarter. Curio Wealth LLC now owns 379 shares of the company’s stock worth $30,000 after buying an additional 378 shares in the last quarter. Private Wealth Asset Management LLC increased its stake in shares of Principal Financial Group by 163.4% during the second quarter. Private Wealth Asset Management LLC now owns 403 shares of the company’s stock worth $32,000 after buying an additional 250 shares during the period. Finally, Zions Bancorporation National Association UT purchased a new position in Principal Financial Group in the first quarter worth approximately $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 $84.38 on Wednesday. The business’s 50-day moving average price is $81.57 and its 200 day moving average price is $79.55. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.36. Principal Financial Group, Inc. has a twelve month low of $68.39 and a twelve month high of $90.31. The company has a market capitalization of $18.80 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 0.76 and a beta of 1.02.

Principal Financial Group (NYSE:PFG) last issued its earnings results on Monday, October 27th. The company reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.20 by $0.12. Principal Financial Group had a return on equity of 14.68% and a net margin of 9.74%.During the same quarter in the previous year, the company posted $2.05 earnings per share. On average, research analysts predict 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 disclosed a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Wednesday, December 3rd will be issued a $0.79 dividend. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.78. This represents a $3.16 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Wednesday, December 3rd. Principal Financial Group’s dividend payout ratio is presently 46.00%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Piper Sandler set a $94.00 target price on shares of Principal Financial Group and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. Morgan Stanley upgraded 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 report on Thursday, October 23rd. Evercore ISI boosted their price target on shares of Principal Financial Group from $92.00 to $94.00 and gave the company an “in-line” rating in a research report on Thursday, October 9th. UBS Group boosted their target price 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, Barclays boosted their price objective on Principal Financial Group from $80.00 to $83.00 and gave the company an “underweight” rating in a research note on Wednesday, October 8th. Two 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 company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus 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.