Principal Financial Group, Inc. $PFG Shares Sold by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp trimmed its holdings in Principal Financial Group, Inc. (NYSE:PFG) by 66.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,418 shares of the company’s stock after selling 35,700 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Principal Financial Group were worth $1,463,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of Principal Financial Group in the second quarter worth approximately $25,000. Traub Capital Management LLC acquired a new position in Principal Financial Group during the second quarter worth approximately $26,000. American National Bank & Trust acquired a new position in shares of Principal Financial Group in the 2nd quarter valued at $28,000. Curio Wealth LLC boosted its holdings in shares of Principal Financial Group by 37,800.0% in the 2nd quarter. Curio Wealth LLC now owns 379 shares of the company’s stock valued at $30,000 after purchasing an additional 378 shares during the last quarter. Finally, Private Wealth Asset Management LLC grew its stake in shares of Principal Financial Group by 163.4% during the 2nd quarter. Private Wealth Asset Management LLC now owns 403 shares of the company’s stock valued at $32,000 after buying an additional 250 shares during the period. Institutional investors and hedge funds own 75.08% of the company’s stock.

Insider Transactions at Principal Financial Group

In other Principal Financial Group news, EVP Wee Yee Cheong sold 1,887 shares of Principal Financial Group stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $85.04, for a total value of $160,470.48. Following the completion of the transaction, the executive vice president directly owned 81,421 shares in the company, valued at $6,924,041.84. The trade was a 2.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.08% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Evercore ISI increased their target price on Principal Financial Group from $92.00 to $94.00 and gave the stock an “in-line” rating in a research report on Thursday, October 9th. Wells Fargo & Company upped their price target on Principal Financial Group from $73.00 to $74.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 29th. Piper Sandler set a $94.00 target price on Principal Financial Group and gave the company an “overweight” rating in a report on Tuesday, October 7th. Keefe, Bruyette & Woods increased their price objective on shares of Principal Financial Group from $90.00 to $91.00 and gave the company a “market perform” rating in a research report on Thursday, October 30th. Finally, Barclays boosted their target price 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. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $88.90.

Principal Financial Group Trading Down 0.2%

NYSE:PFG opened at $84.32 on Wednesday. Principal Financial Group, Inc. has a 52 week low of $68.39 and a 52 week high of $90.31. 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 company has a market cap of $18.78 billion, a PE ratio of 12.62, a P/E/G ratio of 0.76 and a beta of 1.02. The business’s 50 day moving average is $82.40 and its two-hundred day moving average is $80.18.

Principal Financial Group (NYSE:PFG) last posted its quarterly earnings results on Monday, October 27th. The company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate 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 last year, the company posted $2.05 EPS. On average, analysts predict that Principal Financial Group, Inc. will post 8.5 EPS for the current year.

Principal Financial Group Increases Dividend

The firm also recently disclosed 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 represents a $3.16 annualized dividend and a yield of 3.7%. This is a positive change from Principal Financial Group’s previous quarterly dividend of $0.78. The ex-dividend date is Wednesday, December 3rd. Principal Financial Group’s dividend payout ratio (DPR) is currently 46.00%.

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.