Arjuna Capital Lowers Position in Principal Financial Group, Inc. (NYSE:PFG)

Arjuna Capital cut its position in Principal Financial Group, Inc. (NYSE:PFG) by 0.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 85,785 shares of the company’s stock after selling 699 shares during the quarter. Principal Financial Group makes up approximately 1.9% of Arjuna Capital’s investment portfolio, making the stock its 12th largest holding. Arjuna Capital’s holdings in Principal Financial Group were worth $7,369,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Pinnacle Financial Partners Inc acquired a new stake in shares of Principal Financial Group during the 3rd quarter worth approximately $57,000. Prime Capital Investment Advisors LLC raised its holdings in Principal Financial Group by 2.3% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 6,358 shares of the company’s stock valued at $546,000 after buying an additional 142 shares during the period. WCM Investment Management LLC purchased a new stake in Principal Financial Group in the 3rd quarter valued at about $265,000. Versor Investments LP purchased a new stake in Principal Financial Group during the third quarter worth about $825,000. Finally, Venturi Wealth Management LLC grew its position in shares of Principal Financial Group by 24.0% during the third quarter. Venturi Wealth Management LLC now owns 1,226 shares of the company’s stock worth $105,000 after buying an additional 237 shares in the last quarter. 75.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PFG. Barclays boosted their price objective on Principal Financial Group from $75.00 to $77.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Bank of America decreased their price target on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating on the stock in a research note on Thursday, October 10th. Keefe, Bruyette & Woods dropped their target price on Principal Financial Group from $88.00 to $86.00 and set a “market perform” rating on the stock in a report on Tuesday, July 30th. Jefferies Financial Group lifted their target price on Principal Financial Group from $73.00 to $76.00 and gave the stock a “hold” rating in a research report on Thursday, July 18th. Finally, Royal Bank of Canada boosted their price objective on Principal Financial Group from $83.00 to $87.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $85.58.

Principal Financial Group Stock Up 0.3 %

Shares of Principal Financial Group stock traded up $0.24 during trading on Wednesday, reaching $87.35. The stock had a trading volume of 40,466 shares, compared to its average volume of 1,129,616. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. The stock has a fifty day moving average price of $85.18 and a two-hundred day moving average price of $82.09. The company has a market capitalization of $19.98 billion, a price-to-earnings ratio of -96.79, a P/E/G ratio of 1.00 and a beta of 1.20. Principal Financial Group, Inc. has a 52 week low of $70.22 and a 52 week high of $91.97.

Principal Financial Group (NYSE:PFG) last announced its quarterly earnings results on Thursday, October 24th. The company reported $1.76 earnings per share for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.26). The business had revenue of $3.01 billion for the quarter, compared to analyst estimates 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 period last year, the firm earned $1.72 EPS. Sell-side analysts predict that Principal Financial Group, Inc. will post 7.12 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.73 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Principal Financial Group’s previous quarterly dividend of $0.72. This represents a $2.92 annualized dividend and a yield of 3.34%. Principal Financial Group’s dividend payout ratio is presently -320.00%.

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.