SageView Advisory Group LLC Sells 415 Shares of Principal Financial Group, Inc. (NYSE:PFG)

SageView Advisory Group LLC trimmed its holdings in shares of Principal Financial Group, Inc. (NYSE:PFG) by 13.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,687 shares of the company’s stock after selling 415 shares during the quarter. SageView Advisory Group LLC’s holdings in Principal Financial Group were worth $231,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in PFG. Acadian Asset Management LLC lifted its stake in shares of Principal Financial Group by 403.6% in the 2nd quarter. Acadian Asset Management LLC now owns 354,447 shares of the company’s stock valued at $27,800,000 after purchasing an additional 284,067 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in Principal Financial Group in the second quarter worth $19,698,000. Bank of Montreal Can boosted its stake in Principal Financial Group by 41.0% during the third quarter. Bank of Montreal Can now owns 503,735 shares of the company’s stock worth $43,367,000 after buying an additional 146,473 shares during the period. Mizuho Securities USA LLC increased its position in Principal Financial Group by 818.1% during the third quarter. Mizuho Securities USA LLC now owns 152,648 shares of the company’s stock valued at $13,112,000 after acquiring an additional 136,021 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of Principal Financial Group by 6,593.7% during the 3rd quarter. International Assets Investment Management LLC now owns 132,200 shares of the company’s stock worth $11,356,000 after purchasing an additional 130,225 shares during the period. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Principal Financial Group Trading Up 0.8 %

NYSE:PFG opened at $84.40 on Friday. The stock has a market capitalization of $19.30 billion, a price-to-earnings ratio of -93.78, a PEG ratio of 0.99 and a beta of 1.20. Principal Financial Group, Inc. has a 52 week low of $72.21 and a 52 week high of $91.97. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. The firm has a 50 day moving average of $86.31 and a 200 day moving average of $82.48.

Principal Financial Group (NYSE:PFG) last issued its earnings results on Thursday, October 24th. The company reported $1.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.26). The firm had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Principal Financial Group had a positive return on equity of 14.67% and a negative net margin of 1.47%. During the same quarter last year, the business earned $1.72 EPS. As a group, sell-side analysts anticipate that Principal Financial Group, Inc. will post 7.04 earnings per share for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Monday, December 2nd will be issued a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 3.46%. The ex-dividend date is Monday, December 2nd. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.72. Principal Financial Group’s dividend payout ratio is -324.44%.

Wall Street Analyst Weigh In

Several research analysts recently commented on PFG shares. Piper Sandler raised their price target on shares of Principal Financial Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Morgan Stanley reiterated an “underweight” rating and issued a $80.00 price target (down previously from $86.00) on shares of Principal Financial Group in a report on Thursday. Bank of America decreased their target price on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a research report on Thursday, October 10th. Royal Bank of Canada increased their price target on Principal Financial Group from $87.00 to $91.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 19th. Finally, Wells Fargo & Company lifted their price objective on Principal Financial Group from $85.00 to $86.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $85.67.

Principal Financial Group Company 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.