BlackRock Inc. Sells 131,945 Shares of Principal Financial Group, Inc. (NASDAQ:PFG)

BlackRock Inc. decreased its stake in Principal Financial Group, Inc. (NASDAQ:PFG) by 0.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 21,985,005 shares of the company’s stock after selling 131,945 shares during the quarter. BlackRock Inc. owned approximately 0.08% of Principal Financial Group worth $1,415,834,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hudock Inc. grew its holdings in Principal Financial Group by 201.4% during the third quarter. Hudock Inc. now owns 446 shares of the company’s stock worth $28,000 after purchasing an additional 298 shares during the period. C M Bidwell & Associates Ltd. bought a new position in Principal Financial Group during the second quarter worth about $32,000. Lloyd Advisory Services LLC. grew its holdings in Principal Financial Group by 105.4% during the third quarter. Lloyd Advisory Services LLC. now owns 495 shares of the company’s stock worth $32,000 after purchasing an additional 254 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in Principal Financial Group by 129.8% during the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 501 shares of the company’s stock worth $32,000 after purchasing an additional 283 shares during the period. Finally, First Horizon Advisors Inc. grew its holdings in Principal Financial Group by 45.4% during the third quarter. First Horizon Advisors Inc. now owns 615 shares of the company’s stock worth $40,000 after purchasing an additional 192 shares during the period. Institutional investors own 71.77% of the company’s stock.

Shares of PFG opened at $76.82 on Friday. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $20.36 billion, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 0.64 and a beta of 1.59. The firm’s fifty day simple moving average is $71.98 and its two-hundred day simple moving average is $67.59. Principal Financial Group, Inc. has a 12 month low of $48.88 and a 12 month high of $77.68.

Principal Financial Group (NASDAQ:PFG) last posted its earnings results on Tuesday, October 26th. The company reported $1.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.10. Principal Financial Group had a net margin of 12.28% and a return on equity of 10.91%. The company had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same quarter in the prior year, the business posted $0.85 EPS. As a group, research analysts predict that Principal Financial Group, Inc. will post 6.55 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 21st. Investors of record on Wednesday, December 1st were issued a $0.64 dividend. The ex-dividend date was Tuesday, November 30th. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.63. This represents a $2.56 annualized dividend and a yield of 3.33%. Principal Financial Group’s dividend payout ratio (DPR) is 41.22%.

PFG has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Principal Financial Group from a “sell” rating to a “hold” rating and set a $79.00 price target for the company in a report on Thursday, January 6th. JPMorgan Chase & Co. raised their price objective on shares of Principal Financial Group from $71.00 to $72.00 in a research report on Tuesday, January 4th. Morgan Stanley raised their price objective on shares of Principal Financial Group from $73.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, January 7th. The Goldman Sachs Group started coverage on shares of Principal Financial Group in a research report on Thursday, December 2nd. They set a “sell” rating and a $64.00 price objective for the company. Finally, Piper Sandler raised their price objective on shares of Principal Financial Group from $68.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, December 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $71.91.

Principal Financial Group Company Profile

Principal Financial Group, Inc is a financial company, which offers financial products and services to businesses, individuals and institutional clients. It specializes in retirement solutions, insurance, and investment products through its diverse family of financial services companies and national network of financial professionals.

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Institutional Ownership by Quarter for Principal Financial Group (NASDAQ:PFG)

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